The Minister of Women Affairs in Nigeria, Uju Kennedy-Ohanenye, has accused the Muhammadu Buhari administration of mismanaging the initial $100 million tranche of a $500 million World Bank loan aimed at empowering Nigerian women.
Speaking on Arise Television’s Morning Show on Monday, June 24, 2024, Kennedy-Ohanenye detailed that the funds, part of the Nigeria For Women Project, were mishandled under the previous administration.
“The $100 million, which is the first tranche of the loan, was intended for the Nigeria For Women Project but was squandered on advocacy, meetings, and consultancy services,” Kennedy-Ohanenye alleged. “This expenditure pattern did not align with the Renewed Hope agenda of President Bola Ahmed Tinubu.”
The Nigeria For Women Project, a collaboration between the World Bank and the Nigerian Government, is designed to enhance economic opportunities for women, contributing to better education, health, and nutrition outcomes, and building resilience against climate change. Approved initially on June 27, 2018, the loan aims to scale up financing for women’s empowerment across 15 states and the Federal Capital Territory.
Kennedy-Ohanenye criticized the allocation of funds, noting, “The first $100 million was disbursed by the Buhari government and the way it was spent is disappointing. When money is given as a loan, it must be managed effectively to ensure repayment. Unfortunately, the funds were diverted towards non-essential activities, which is not what the Nigeria For Women Project is about.”
In response, Kennedy-Ohanenye has proposed a new structure for the remaining funds and submitted it to the Minister of Finance, Wale Edun, for approval. She said, “I quickly raised a new structure to ensure the money is used appropriately. We must avoid wasting funds on unnecessary advocacy and consultancy. President Tinubu has reviewed and approved this new structure, and we are awaiting implementation.”
She emphasized the importance of the project in improving the lives of vulnerable women across Nigeria. “The $500 million is significant, and I assure you it can transform the lives of women who need it most. We are partnering with traditional rulers and commissioners to onboard women into a new system that directly benefits them.”
The previous structure had failed to meet the needs of Nigerian women, Kennedy-Ohanenye added, but the new framework promises better management and transparency.
“We are committed to ensuring that this funding reaches those it is meant to support and that it truly empowers women across Nigeria,” She said.
