By Ayodele Oni
More than 40,000 women are expected to receive business capital under community investment fund in Katsina state as the Vice-President Kashim Shettima flagged off the Community Investment Fund on Sunday.
Katsina Governor Dikko Umar Radda and World Bank officials announced the development during the launch.
The governor explained the 40,000 women are expected to meet savings and group participation requirements.
The fund supports Women Affinity Groups to expand businesses, improve household incomes and strengthen economic resilience.
The programme initially covered six Katsina local government areas before the state expanded it to all 34.
Radda said Katsina would continue providing counterpart funding to sustain the programme and expand its reach.
He also appealed to the World Bank and development partners for additional funding and technical support.
Radda emphasized that the Community Investment Fund would help women establish businesses, expand existing enterprises and strengthen productive activities.
“Today’s’s flag-off marks the commencement of the disbursement process; it is not the conclusion.”
He urged groups yet to receive funds during the launch to remain confident as disbursement continues in phases.
The programme also includes women with hearing impairment who have formed their own Women Affinity Groups.
World Bank representative, Matthew Verghis said closing gender gaps could generate up to $22.9 billion for Nigeria’s economy.
The World Bank has separately estimated that closing gender gaps could generate between $9.3 billion and $22.9 billion.
Verghis said the $540 million NFWP-SU is being implemented across 32 states, targeting five million women directly.
The World Bank approved $500 million for the programme in 2023 to expand women’s economic opportunities and financial inclusion.
The wider programme uses Women Affinity Groups to promote savings, financial literacy, livelihood activities and access to markets.
Verghis added that participating women had collectively saved more than ₦20 billion through the programme.
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