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AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

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AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

By: Michael Mike

The African Development Bank (ADB) has said it is presently seeking $42 billion to bridge the current financing gap hindering women-owned and women-led enterprises across the Africa continent.

The Director General, Nigerian Country Department of the bank, Dr Abdul Kamara made the disclosure on Tuesday in Abuja
at the High-Level Dialogue on Investment in Gender Equality and Ending Violence Against Women for Rights and Development organised by United Nations Women in partnership with ADB.

The event is part of the global “16 Days of Activism against Gender-Based Violence” campaign, which runs from November 25 (International Day for the Elimination of Violence against Women) to December 10th (Human Rights Day).

It brought together key stakeholders to address the pressing issue of gender-based violence in Nigeria, where women and girls continue to face various forms of discrimination and violence.

Kamara said the bank has a very clear stance on Gender Based Violence (GBV), stating that in 2024, ADB celebrated 25 years of gender mainstreaming in all its operations geared towards evidence based reduction in gender gaps and more importantly, in accelerating gender equality.

He said: “One area where the bank has made very visible impact in the economic empowerment in the last seven years is increasing access to finance through a special initiative called AFAWA which is an acronym for Affirmative Finance Action for Women in Africa.

“In the context of this Pan African Initiative, the African Development Bank seeks to bridge the financing gap of $42 billion currently hindering women-owned and women-led enterprises across the continent and I am glad to report that we disbursed over a billion dollars of this across Africa, seeking to increase access to finance for women.

“This is just one among many initiatives of the bank that are responding directly to the problem gender equality. In Nigeria, all our programmes and projects are gender mapped and have gender experts working with the government to design actions that will bridge gender gaps, looking to access to financing for women, access to market, access skills but most importantly access to jobs and incomes.

“Just last month, we approve here in the bank, $100 million in the programme called Youth Entrepreneurship Investment Bank for Nigeria. This is a non deposit bank, it is an access to finance. This operation will improve gender responsive, youth entrepreneurship and enterprise development by boosting financial services to foster a thriving entrepreneurial ecosystem and affirmative action for jobs focusing on women,” he said.

In his remarks, Minister of Budget and National Planning, Sen. Atiku Bagudu said GBV was a growing concern that required immediate attention and collective action, noting that despite progress made toward dealing with violence, women and girls continue to face violence, discrimination and marginalisation.

Bagudu, who was represented by Permanent Secretary in the ministry, Dr Vitalis Obi, said empowering women was crucial to breaking this cycle of violence and that can be done by creating and promoting gender responsive policies as well as practices.

He said: “We must take decisive action to prevent and protect our women from all forms of violence and to create a society where everyone feels safe irrespective of their gender. One of the ways by which we can bridge this persistent gap is by institutionalising gender responsive budgeting in all sectors of the economy.

“Gender responsive budgeting is the strategic approach that integrates gender perspectives into the entire budget cycle. Allocate adequate resources to the programmes that will address GBV, women empowerment and education,” he said.

On her part, the Chairperson, Nigerian Governors’ Spouses Forum, Prof. Olufolake Abdul-Razaq, said they remained steadfast in advocating gender responsive budgeting across the 36 states and FCT, spending institutional framework that integrate gender perspectives and championing initiatives to protect women rights.

The Kwara State First Lady said the forum was firmly committed to ensuring that all gender laws become a cornerstone of governance at the sub-national levels, adding that the well-being of women and girls remained a pivotal indicator of how well any nation was faring in driving her developmental plan.

“It is time to address the structural barriers that perpetrate inequality for women and girls to reach their full potentials. This is my believe and it is not only an act of justice but a strategic investment in resilience and productivity of our nation as this no doubt stands as a veritable gift to commemorate the 2024 16 days of activism against GBV.

“The Nigerian Governors Spouses Forum really made an effort in the last couple of years…We are also working to get women into leadership because we believe that when women are in leadership position they will help us to sustain this drive of bringing developments to women,” she added.

In her opening remarks, the UN Women Country Representative to Nigeria and ECOWAS, Beatrice Eyong, said GBV was not just a human rights issue but also an economic issue a statistics showed that the menace was costing the Nigerian government 1.5% of its Gross Domestic Product.

“We are talking in terms of billions of dollars that the country is losing every year because of Gender Based Violence. So Gender Based Violence is linked to the achievement of Sustainable Development Goals. So if we do nothing, we will not get out of poverty and we will not get sustainable development.

“The World Economic Forum estimated in its global gender gaps report of 2022 that it will take about 132 years for the world to achieve gender equality. What does this mean for Nigeria? At this space, some of us, including our daughters might not experience gender equality in their time.

“This is therefore a call to collective actions by all international organisations, government agencies, community stakeholders and even the private sector to address the under-representation of women and barriers to gender equality,” she noted.

The UN Resident Coordinator in Nigeria Mohammed Fall, on his part said: “Gender inequality and violence against women remain among the greatest challenges to sustainable development, not just in Nigeria but globally. These issues incur heavy costs—socially, economically, and individually—limiting our collective potential for progress.”

He added that: “Violence and harmful practices against women and girls happen every day in Nigeria, and most of the time they are not reported. The Nigerian Demographic and Health Survey in 2018 found that 9 percent of women aged 15 to 49 had suffered sexual assault at least once in their lifetime and 31% had experienced physical violence. Restrictions and implications from the COVID-19 pandemic exacerbated the gender-based violence (GBV) in the nation.”

He said: “The United Nations remains steadfast in its support for Nigeria’s journey towards creating an inclusive society where every woman and girl can thrive. We are committed to coordinating partnerships, providing technical expertise, and facilitating dialogues to ensure measurable impacts in Nigeria.”

AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

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NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

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NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

By: Michael Mike

The National Drug Enforcement Agency (NDLEA) has launched an Alternative Development Pilot Project aimed at ending illicit cannabis cultivation by providing affected communities with sustainable and legal livelihood options.

The initiative was unveiled on Tuesday in Akure, Ondo State, at a town hall meeting attended by national stakeholders, international development partners, traditional rulers and community leaders.

The project is designed to replace illicit drug farming with profitable food and cash cropu production, while reducing drug-related insecurity.

Speaking at the event, NDLEA Chairman and Chief Executive Officer, Brigadier General Buba Marwa (retd), said the programme represents a shift from confrontation to cooperation between law enforcement and farming communities involved in illicit crop cultivation.

According to Marwa, the Alternative Development Project will help break the long-standing cycle of poverty, insecurity and environmental damage associated with cannabis farming, while supporting Nigeria’s food security goals under President Bola Tinubu’s Renewed Hope Agenda.

He explained that drug cultivation often benefits criminal networks rather than host communities, leaving behind degraded farmland and social instability. “The kingpins prosper elsewhere, while the farmers are left with poverty and insecurity,” Marwa said, adding that the new approach prioritises empowerment over enforcement.

The NDLEA boss stressed that participation in the programme is voluntary and targeted only at communities willing to abandon illicitu cultivation. He assured residents that the initiative is not a trap to arrest farmers, but a genuine effort to help them transition to lawful agriculture.

Marwa noted that alternative crops such as Artemisia annua, which has medicinal and commercial value, could generate higher income than cannabis while contributing to public health and economic growth.

The Ondo State Governor, Dr. Lucky Ayedatiwa, welcomed the pilot project and pledged the full support of his administration. He said the state government would provide land, seedlings and other agricultural inputs to ensure the success of the initiative.

Ayedatiwa also urged young people to reject drug abuse and embrace legitimate opportunities offered through the programme, describing youths as key drivers of development.

International partners, including the United Nations Office on Drugs and Crime (UNODC) and development agencies from Europe, expressed support for the project, which aligns with global best practices on crop substitution and sustainable livelihoods.

Traditional rulers in the state also backed the initiative. Speaking on their behalf, the Olowo of Owo Kingdom and Chairman of the Ondo State Council of Traditional Rulers, Oba Ajibade Gbadegesin Ogunoye III, called on youths to embrace the programme, warning of the social and legal consequences of drug cultivation.

The Alternative Development Pilot Project will begin in three communities in Ondo State, after which its impact will be assessed and recommendations made to the Federal Government for nationwide expansion.

NDLEA Launches Alternative Development Project to Shift Cannabis Growers to Legal Farming

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VP Shettima To Launch Fresh Women, Youth, Children Learning, Empowerment Fund

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VP Shettima To Launch Fresh Women, Youth, Children Learning, Empowerment Fund

… As Nigeria co-hosts Africa Social Impact Summit, policy engagement in Abuja

By: Our Reporter

All is set for the Vice President, Senator Kashim Shettima, to launch a fresh learning fund and empowerment platform targeted at unlocking the potential of Nigerian children, women, and youth.

The event is billed to hold on Wednesday, January 28, 2026, at the State House Conference Centre, Abuja.

This initiative, convened by the Office of the Vice President in collaboration with Sterling One Foundation, the United Nations System, and other ASIS partners, will form part of the outcomes of the Africa Social Impact Summit (ASIS) 2026 High-Level Policy Engagement.

ASIS is a premier platform for accelerating progress on the Sustainable Development Goals (SDGs) through innovation, financing, and partnerships.

The high-level engagement with the theme, “Scaling Action – Driving Inclusive Growth through Policy and Innovation,” will bring together over 200 senior leaders from government, private enterprise, development institutions, civil society, and the diplomatic community.

Key highlights of the engagement include the launch of flagship, policy-backed initiatives, notably the Business Coalition for Education (BCE) and the Nigeria Foundational Learning Fund, designed to accelerate foundational literacy and numeracy, while addressing the country’s out-of-school children challenge.

Also to be launched on Wednesday is the Women and Youth Financial and Economic Inclusion (WYFEI) Nigeria, the country’s flagship platform for advancing women and youth economic empowerment through compact-based delivery, co-investment frameworks, and performance accountability.

This will make Nigeria the implementation platform of the African Union’s WYFEI programme.

WYFEI will also be launched in other countries after Nigeria.

Speaking ahead of the engagement, the Vice President noted that Nigeria is poised for a prosperity-filled future through the government’s sustained and effective mobilisation of funding, support, and expertise, both internationally and locally.

“Nigeria’s future prosperity depends on how effectively we mobilise the private sector, development partners, and public institutions around shared national priorities. This engagement marks a critical step toward delivery-driven partnerships that unlock the full potential of our women and youth, strengthen human capital, and accelerate inclusive growth,” he said.

On her part, Mrs. Olapeju Ibekwe, CEO of Sterling One Foundation, explained that the ASIS 2026 High-Level Policy Engagement represents a pivotal shift from conversation to national execution.

According to her, the high-level meeting will deliberately align policy, innovation, financing, and frameworks that enable solutions to scale—delivering real impact for millions of Nigerians, while positioning Nigeria as a leader in Africa’s sustainable growth agenda.

The event will also feature the adoption of the WYFEI Nigeria Declaration, a national statement of intent to be endorsed by government officials, CEOs, and development partners, committing to coordinated action to unlock Nigeria’s women and youth dividend.

Senior government officials, chief executives, development partners, investors, and civil society organisations will converge on Abuja to advance results-driven partnerships for inclusive growth, foundational learning, women and youth empowerment, and national development delivery for Nigeria.
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Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

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Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

By: Michael Mike

Nigeria and Italy have expressed renewed commitment to strengthening bilateral relations, with a focus on addressing irregular migration, insecurity, counter-terrorism, and expanding economic cooperation.

The Minister of State for Foreign Affairs, Ambassador Bianca Odumegwu-Ojukwu, made this known in Abuja on Monday during a courtesy visit by the Italian Ambassador to Nigeria, Mr. Roberto Mengoni.

Odumegwu-Ojukwu described Italy as one of Nigeria’s key strategic partners in Europe, noting that although diplomatic relations between both countries span more than six decades, there is yet to be a formal Nigeria-Italy Bi-National Commission, calling for the establishment of such a framework to deepen structured engagement and cooperation.

According to the minister, sustained high-level diplomatic engagements between both countries have continued to highlight shared priorities in sustainable development, food security, climate action, and economic growth.

She said ongoing consultations between Nigeria and Italy also reflect a common commitment to addressing global and regional challenges, including climate change, irregular migration, and security threats.

The minister urged for continued collaboration of both countries in combating illegal migration, human trafficking, and transnational crimes, while calling for stronger Italian involvement in Nigeria’s ongoing economic reforms. She identified renewable energy, agribusiness, and infrastructure development as critical sectors for enhanced cooperation.

Odumegwu-Ojukwu also sought Italy’s technical support for Nigeria’s industrialisation drive, stressing that improved mobility between both countries would stimulate trade, investment, education, and cultural exchange.

She emphasised the need to improve visa processing systems, noting that more efficient procedures would ease movement, reduce delays, and strengthen economic and diplomatic relations.

The minister also called for the creation of effective trade facilitation mechanisms to allow Nigerian agricultural and manufactured products access to the Italian market, thereby reducing transit costs and improving supply chain efficiency.

Describing migration as both a challenge and an opportunity, Odumegwu-Ojukwu said Nigeria and Italy are working together to curb irregular migration while expanding legal migration pathways. She explained that bilateral cooperation includes repatriation agreements, voluntary return initiatives, and reintegration programmes for Nigerians returning from Italy.

She also highlighted joint efforts to dismantle human trafficking networks operating between both countries, with special emphasis on protecting vulnerable groups. According to her, vocational training and small business development initiatives are being implemented in high-migration areas to address the root causes of irregular migration.

“With Nigeria’s large youth population, we are deeply concerned about the safety of our young people,” the minister said. “We are seeking effective ways to combat irregular migration, especially as Italy remains a major destination for Nigerian migrants.”

She added that Nigeria is exploring youth-focused initiatives to address unemployment, youth restiveness, and online radicalisation, while appealing for support in building capacity to counter violent extremism.

Earlier, Mengoni reaffirmed Italy’s interest in strengthening relations with Nigeria, describing the country as central to Italy’s Africa cooperation strategy.

He said his mission to Nigeria would prioritise expanding diplomatic and business ties for the mutual benefit of both nations.

“We now have the momentum to engage Nigeria more deeply and enhance cooperation. Italy does not believe in imposing policies on African countries but in building partnerships,” Mengoni stated.

Nigeria, Italy Set to Strengthen Bilateral Ties, Tackle Migration, Security Challenges

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