Federal Government Empowers 10,000 Women with Tricycle, Motorcycle Loans

Federal Government Empowers 10,000 Women with Tricycle, Motorcycle Loans

The Federal Government has launched a program to empower 10,000 women across Nigeria with loans to purchase tricycles and motorcycles. The initiative, known as the “10,000 Women in Mobility” program, aims to promote economic participation and financial independence among women .

The Minister of Women Affairs, Imaan Sulaiman-Ibrahim, emphasized the importance of creating economic spaces for women. She noted that the program would enable women to build credible financial histories, which can unlock future access to credit. The program has already handed over vehicles to 1,000 women in the Abuja pilot phase and is set to expand nationwide .

The program is expected to have several benefits, including:

Increased financial independence: Women will be able to generate income and improve their economic well-being.
Job creation: The program will create employment opportunities for women in the transportation and logistics sectors.
Economic growth: The program will contribute to the country’s economic growth by increasing the participation of women in the economy .

The program is a result of collaboration between the Federal Government and the Nigerian Consumer Credit Corporation. The Managing Director of CREDICORP, Uzoma Nwagba, praised the initiative, stating that it would promote inclusive access to consumer credit and translate policy into tangible economic opportunities for women.

The “10,000 Women in Mobility” program is a significant initiative that will promote economic participation and financial independence among women in Nigeria. With the support of the Federal Government and CREDICORP, the program is expected to have a positive impact on the lives of thousands of women and contribute to the country’s economic growth.