S100m World Bank Loan Misused By My Predecessors, Kennedy-Ohanenye Alleges
CHIGOZIE AMADI
The Minister of Women Affairs, Uju Kennedy-Ohanenye, has alleged that the $100 million loan from the World Bank meant for the empowerment of Nigerian women under the Nigeria for Women Project was mismanagement by my predecessors.
Speaking on ARISE TV News yesterday, the minister revealed that the funds were squandered on advocacies, meetings, and consultancies, with little impact on the targeted beneficiaries.
The minister revealed that the funds were mismanaged by the project’s former handlers, who failed to deliver the intended results.
“We were not satisfied with how the $100 million was used,” Kennedy-Ohanenye said, adding, “It didn’t align with our vision, and we didn’t see the impact we expected. We realised that the approach was wrong, and we needed to change it.”
Determined to right the wrongs of the past, she announced a new structure for the disbursement of an additional $500 million loan from the World Bank.
The funds would be channelled towards economically sustainable empowerment for women across the 36 states, including the Federal Capital Territory.
“We’ve restructured the programme to focus on tangible projects that will generate income and improve lives. We’re talking about farming, rice milling, fish production – projects that will make a real difference in the lives of Nigerian women,” the minister explained.
She emphasised the importance of partnering royal fathers and community leaders to overcome cultural nuances and ensure the success of the programme.
“We’re working with the royal fathers and community leaders to penetrate these communities and get the desired results,” she said.
The minister commended President Bola Ahmed Tinubu for his support and commitment to women’s empowerment.
“The President has been very supportive, and we appreciate his efforts to ensure that women are empowered,” she said.
She also acknowledged the collaboration with the Minister of Finance, whom she said had been instrumental to ensuring the loan’s effective utilisation.
“We’re working closely with the Minister of Finance to ensure that the funds are used judiciously,” she said.
