FG Unveils N5 Billion Fund to Empower Women Across Nigeria

By Achimi Muktar

In a bold move that could transform the lives of thousands of women across Nigeria, the Nigerian Consumer Credit Corporation (Credicorp) has announced a massive N5 billion allocation specifically for women to access alternative energy through solar power—targeting their homes, businesses, and entire communities.

The revelation was made by Credicorp's Managing Director, Uzoma Nwagba, during the “Empowering Women, Ending Poverty” programme held in Abuja. Themed “Ensuring Access to Sustainable Energy Solutions Through Strategic Partnership,” the event spotlighted how strategic funding and partnerships can fight poverty through clean energy.

“This fund is already here,” Nwagba affirmed. “From the N10 billion we have, we’re setting aside half—N5 billion—for women. We intend to grow this fund wherever opportunities arise, giving women access to solar power.”

But this isn't just about clean energy—it's about smart economics. Nwagba emphasized that empowering women makes financial sense.

“Women are incredibly reliable with loan repayment. When you empower a woman, you don’t just uplift one person—you uplift a family, a community, a nation,” he said. “They’re less likely to misuse funds and more likely to create ripple effects of positive change.”

The initiative is part of President Bola Tinubu’s broader push to democratize access to credit and improve the standard of living for everyday Nigerians. According to Nwagba, Tinubu’s vision is clear: tackle the most pressing barriers—mobility and energy—especially for women.

Minister of Women Affairs, Imaan Suleiman-Ibrahim, also hailed the initiative as a game-changer, calling it “a purpose-driven revolution” that moves beyond policy talk into transformative action.

“Every year, over 80,000 women die from toxic smoke caused by traditional cooking methods. These aren’t just numbers—these are mothers, breadwinners, the backbone of our nation,” Imaan declared. “This must end on our watch.”

The clean energy revolution, she stressed, will be “designed by women, for women, and led by women”—fueled by data and driven by grassroots engagement. The goal? To deliver real, lasting solutions to rural and underserved communities.

With Credicorp leading the charge and a visionary partnership between government and communities, Nigerian women may soon become the driving force behind the country’s clean energy future—and this N5 billion boost might just be the spark they needed.