National News

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

Published

1 year ago

November 27, 2024

Ochuwa Ibrahim

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

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

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National News

NIMC Promotes 523 Staff Members

Published

22 hours ago

December 13, 2025

Ochuwa Ibrahim

NIMC Promotes 523 Staff Members

By: Michael Mike

The DG/CEO of the National Identity Management Commission (NIMC), Engr (Dr) Abisoye Coker-Odusote has approved the promotion of 523 Staff of the Commission.

The promotion, according to a statement on Saturday by the spokesperson of the Commission, Dr. Kayode Adegoke is in line with President Bola Tinubu’s Renewed Hope Agenda.

Adegoke said: “This is a statutory part of the performance reward system for Staff who sat and met the pre-requisite conditions as spelt out in the Public Service Rules (PSR) in the 2025 promotion exercise.

He disclosed that accordingly, two staff members were promoted to the Director’s cadre (GL 17), and eight staff members moved to the Deputy Director cadre (GL 16) and 35 staff staff members promoted to the Assistant Director cadre (GL 15).

He further disclosed that 35 staff were promoted to the level of Chief Identity Officers (GL 14), with 109 moving to Assistant Chief Identity Officers (GL 13).

Adegoke said 113 officers moved to the rank of Principal Identity Officer (GL 12), while 82 were promoted to Senior Identity Officer ranks (GL 10), and 130 to the rank of Identity Officer 1 ( GL 9).

The DG/CEO congratulated all the promoted staff and charged them to see the promotion as an opportunity to serve the country better. She reiterated zero tolerance for extortion and warned staff to desist from it.

Engr Coker-Odusote, furthermore, encouraged all staff members of the Commission to work harder in the coming year 2026 and ensure the successful implementation of the National Identification Number project. She reiterated her commitment to prioritise staff welfare and ensure the dignity of labour.

NIMC Promotes 523 Staff Members

National News

VP Shettima Extols Gov Uzodimma’s Progressive Leadership At 67

Published

22 hours ago

December 13, 2025

Ochuwa Ibrahim

VP Shettima Extols Gov Uzodimma’s Progressive Leadership At 67

By: Our Reporter

Vice President Kashim Shettima has congratulated Imo State Governor and Chairman of the Progressive Governors Forum (PGF), Senator Hope Uzodimma, on his 67th birthday, saying his exemplary and progressive leadership within the All Progressives Congress (APC), his state, and the nation at large is worthy of emulation.

He noted that as Chairman of the PGF, an umbrella body of Governors elected on the platform of the All Progressives Congress (APC), Senator Uzodimma has demonstrated exceptional capacity to unite and galvanise the party’s Governors towards achieving a collective vision for Nigeria’s development under President Bola Tinubu’s Renewed Hope Agenda.

The Vice President on Saturday, described the age of 67 as an important milestone in the life of Uzodimma, noting that the special moment reflects how far the Governor has come, and sets the stage for what lies ahead.

Acknowledging how Uzodimma’s “exemplary leadership as Executive Governor of Imo State continues to inspire confidence and progress,” VP Shettima described the PGF Chairman as a committed servant of Nigeria.

“Your recent appointment by His Excellency, President Bola Ahmed Tinubu, GCFR, as Renewed Hope Ambassador is a well-deserved recognition of your unwavering dedication to the ideals of our administration and your proven ability to articulate and champion the transformative agenda of the Renewed Hope mandate across our nation,” the VP told the Governor.

This singular honour, Senator Shettima said, reflects President Tinubu’s confidence in Governor Uzodimma’s leadership and commitment to national progress.

He observed that the Imo State Governor’s strategic governance, infrastructural achievements, and dedication to the prosperity of his state exemplify the progressive leadership Nigeria needs at this crucial time.

The Vice President prayed the Almighty God to grant Governor Uzodimma continued wisdom, good health, and strength to sustain his “remarkable service to Imo State and Nigeria.”

VP Shettima Extols Gov Uzodimma’s Progressive Leadership At 67

National News

EU Invests Additional €45 million in Nigeria’s Digital Economy

Published

2 days ago

December 12, 2025

Ochuwa Ibrahim

EU Invests Additional €45 million in Nigeria’s Digital Economy

By: Michael Mike

The Europe Union (EU) is investing an additional €45 million in Nigeria’s digital economy.

The package was signed by the Nigerian Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, and the European Commissioner for International Partnerships, Jozef Síkela in Brussels.

A statement on Thursday by EU read: “At the EU-Nigeria Digital Open Day, which just took place in Brussels, a €45 million programme completing the EU Digital Economy Package for Nigeria was signed between Nigerian Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani, and the European Commissioner for International Partnerships Jozef Síkela.

“This investment will further support the cooperation in digital sector between Nigeria and the European Union.”

The European Commissioner for International Partnerships, Jozef Síkela, said: “Global Gateway is about delivering new opportunities, and the EU-Nigerian cooperation in the digital area has a very strong potential to do exactly that. Our approach to digitalisation is based on skills-transfer, open standards, data protection, privacy and security. This way, we make sure that technologies truly enrich human lives. The new package will take our efforts even further by supporting modern e-public services and investing in the skills that will prepare Nigeria’s youth for the digital future.”

The Nigerian Minister of Communications, Innovation and Digital Economy, Bosun Tijani added: The EU–Nigeria digital economy cooperation reflects our shared belief that digital transformation must provide a platform for growth in productivity driven by technology. As part of this, Project Bridge provides a commercially sustainable entry point for European investors and suppliers to participate in deploying an open-access fibre network at scale. Combined with our leadership in Artificial Intelligence, Digital Public Infrastructure and programmes such as 3 million Technical Talents, Nigeria offers European businesses a market where talent, demand and policy alignment converge to support long-term investment and expansion.”

The programme signed on Thursday includes a flagship Global Gateway support to the Project Bridge that aims to deploy 90 000 km of fibre-optic backbone across Nigeria. This project is the country’s most ambitious digital investment supported by loans from the European Bank for Reconstruction and Development, World Bank and African Development Bank.
The €45 million grant supports the preparation of this strategic project with technical assistance and equipment in three complementary ways: for the detailed fiber optic network design, for local skills development and for the supply chain deployment with the mobilisation of the EU private sector.

The EU programme will also contribute to modernise Nigeria’s public administration through secure, user-friendly digital services. it also involves targeted support for Nigeria’s nationwide digital-skills programme, helping train a new generation of technicians, engineers and IT specialists.

According to the statement, this is essential to create new jobs, because large-scale digital projects can only work if the local workforce can maintain, operate and innovate on these networks.

The objective of the EU-Nigeria Open Digital Day was to facilitate access to information for European investors and suppliers interested in participating in the Nigerian digital ecosystem. The focus was on the Project Bridge, presented as an opportunity for collaborations between the EU tech sector and Nigeria.

With this €1.7 billion flagship project is projected to extend Nigeria’s total fibre to 125 000 km (+70%), making it the third-longest terrestrial fibre-optic infrastructure in Africa, following Egypt and South Africa.

Digitalisation is a priority area for the EU-Nigeria partnership as reflected in the €820 million Digital Economy Package launched in 2022 under the EU Global Gateway strategy. The EU-Nigeria collaboration in this sector spans from connectivity to digital skills, entrepreneurship, service and governance with multiple projects.

Nigeria’s digital economy has potential to create jobs, foster economic growth and open greater democratic space in Africa. Nigeria hosts big companies, and Lagos offers digital and business ecosystem with incubators, access to finance and digital service platforms. It has the biggest e-commerce market in Africa with 87 platforms, employing some 2.9 million people.

It is also leading on the continent on digital and start-ups – of the 8 existing African unicorns, 6 are Nigerian, with impressively dynamic States (Lagos) eager to create an ecosystem that promotes innovation, youth and growth largely led by the digital sector.

Global Gateway is the EU’s positive offer to reduce the worldwide investment disparity and boost smart, clean and secure connections in digital, energy and transport sectors, and to strengthen health, education and research systems.

The Global Gateway strategy embodies a Team Europe approach that brings together the European Union, EU Member States, and European development finance institutions.

Together, they aim to mobilise up to €300 billion in public and private investments from 2021 to 2027, creating essential links rather than dependencies, and closing the global investment gap.

EU Invests Additional €45 million in Nigeria’s Digital Economy