A Boost for Women Entrepreneurs
The Nigerian Federal Government has announced a N500 million initiative to empower women in the leather goods and footwear manufacturing sector. The program, unveiled by the Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, aims to provide women with the tools and resources needed to thrive in this lucrative industry. This move is part of broader efforts to boost local production, create jobs, and contribute to the nation’s economic growth.
The Initiative: What It Entails
The N500 million allocation will fund the provision of starter packs for women interested in leather and footwear manufacturing. These packs will include essential tools, equipment, and training to help women establish and expand their businesses.
Hajia Sulaiman-Ibrahim emphasized the importance of women’s participation in this sector, stating, “We pushed for a portion of this intervention to be allocated to women, ensuring they have the necessary tools to expand their businesses and contribute to local production.”
The initiative is expected to:
Empower women entrepreneurs in the leather and footwear industry.
Boost Nigeria’s Gross Domestic Product (GDP) through increased local production.
Create job opportunities and reduce unemployment.
A Broader Impact: Economic Growth and Food Affordability
In addition to the empowerment initiative, the Minister highlighted the positive impact of the Tinubu administration’s policies on food prices. She noted an unprecedented decline in food costs during this year’s Ramadan, attributing it to the government’s strategic interventions.
“For the first time, even during Ramadan, food prices are going down. This is a testament to the success of our policies, and Mr. President was applauded for this achievement,” Sulaiman-Ibrahim said.
This reduction in food prices has made it easier for families to afford meals during the fasting period, reflecting the administration’s commitment to improving the welfare of all citizens, particularly women.
Why This Matters
The N500 million initiative is a significant step toward gender equality and economic empowerment. By supporting women in the leather and footwear industry, the government is not only addressing unemployment but also fostering innovation and self-reliance.
Moreover, the decline in food prices during Ramadan demonstrates the effectiveness of the administration’s policies in tackling inflation and ensuring food security. These developments underscore the government’s focus on creating a more inclusive and prosperous Nigeria.
What’s Next?
The Ministry of Innovation, Science, and Technology will oversee the distribution of starter packs and training programs for women entrepreneurs. As the initiative rolls out, it is expected to inspire more women to venture into the leather and footwear industry, driving economic growth and transforming communities.
With continued support and strategic policies, Nigeria is poised to harness the potential of its women entrepreneurs and build a more resilient economy.
