Ministry of Women Affairs partners with BOI to assist women
The ministry of women affairs has entered into partnership with the Bank of Industry (BOI) with a contribution of N200 million to assist women entrepreneurs.
The Managing Director of the BOI, Ms Evelyn Oputu, disclosed this at the signing of the Memorandum of Understanding with the ministry today in Abuja.
Oputu said the amount was committed under the bank's Business and Development Fund for Women (BUDFOW), in furtherance of its gender empowerment objective.
She explained that the purpose of the BUDFOW include, to help the development of businesses owned by women, to augment the capital base of businesses of women to improve their earnings.
``We see a situation of lower default rate by women than what obtains with men, '' she said.
In view of this, Oputu said the BOI would be giving special consideration in the Boot Camp Workshop for entrepreneurial development in the first quarter of this year.
The minister of women affairs and social development, Mrs Maryam Ciroma expressed delight that the scheme had taken off after two years planning.
She said the project would help women in the country to be more self sufficient.
``Nigerian women are hardworking but the problem is how to access credit facility, which this scheme has provided,'' she said.
Ciroma, therefore, called on the Nigerian women to avail themselves of the opportunity to expand their businesses.
She said that a functional secretariat had been established in the ministry for effective coordination, monitoring and documentation.
NAN reports that the ministry also entered into a similar cooperation with the Nigerian Agricultural, Cooperative and Rural Development Bank (NACRDB), with the provision of N220 million for women in agriculture.