In celebration of International Women’s Day (IWD), Governor Okpebholo of Edo State has announced a N1 billion soft loan scheme aimed at empowering market women across the state. The initiative is designed to support female entrepreneurs by providing them with accessible financial resources to grow their businesses and improve their livelihoods.
The governor made the announcement during a ceremony held in Benin City, where he emphasized the importance of empowering women as a cornerstone for sustainable development. He stated that the loan scheme would offer low-interest rates and flexible repayment plans to ensure that beneficiaries can expand their businesses without undue financial strain.
“Women are the backbone of our economy, and this initiative is a testament to our commitment to their growth and development. By supporting market women, we are not only uplifting families but also strengthening the economic fabric of our state,” Governor Okpebholo said.
The program will be administered through a partnership with local financial institutions and cooperatives, ensuring that the funds reach women in both urban and rural areas. Priority will be given to women in the informal sector, particularly those involved in small-scale trading and agriculture.
The announcement has been met with widespread applause from women’s groups and stakeholders, who have hailed the initiative as a significant step toward gender equality and economic inclusion. Many market women expressed optimism that the loans would enable them to scale their businesses, create jobs, and contribute more meaningfully to the state’s economy.
This year’s International Women’s Day theme, “Invest in Women: Accelerate Progress,” aligns closely with the governor’s initiative, highlighting the critical role of financial investment in achieving gender parity and sustainable development.
Governor Okpebholo urged beneficiaries to utilize the funds judiciously and assured them of his administration’s continued support for women’s empowerment programs.
The N1 billion soft loan scheme is expected to roll out in the coming weeks, with applications set to open online and at designated centers across the state.