Top business magnate in Africa, Aliko Dangote, has promised to empower indigent Nigerian women. Speaking in Sokoto recently, the billionaire said a micro-grant, worth N10 billion, will be distributed across all the local government areas in Nigeria to help select indigent women start petty trading.
The micro-grant is part of the Aliko Dangote Foundation initiative. The aim is to lift more households out of poverty. Overall, 774, 000 women across Nigeria’s 774 local government areas will each receive N10,000 as trade support.
According to Aliko Dangote, the President/ Chief Exceutive,Dangote Industries Limited, ” “The Micro-grants programme is one component of the Economic Empowerment pillar of the Aliko Dangote Foundation. We will provide the 23,990 vulnerable women identified by your selection committee, with a one-off, unconditional N10,000.00 cash grant to boost their household income. This, we believe will help reduce their vulnerability and meet their livelihood needs.”
“This N10 billion programme was launched in 2012, and is being systemically rolled out nationwide to reach 1,000 vulnerable women in each of our 774 LGA in Nigeria”, he added.
The micro-grant will go a long way to boost economic participation of women in Nigeria. It will also support efforts by the Central Bank of Nigeria (CBN) and other financial institutions to reimburse small businesses.