Okpella Monarch Unveils Monthly Financial Support for Small Businesses, - - MSME Africa

The Okuokpellagbe of Okpella, Edo State, King Michael Olorunfemi Sado, has unveiled an initiative to provide monthly financial support to small-scale business owners in the community as part of efforts to boost economic activities and improve residents' welfare. The traditional ruler disclosed this in a video

During the meeting, both organisations discussed strategies to improve women’s access to financing and strengthen their participation in the oil and gas industry.

Eyong proposed a study to identify factors limiting women’s access to the fund, including challenges relating to documentation, business registration, tax compliance and inadequate awareness of available financing opportunities.

The proposed collaboration also includes capacity-building programmes for NCDMB personnel to strengthen gender mainstreaming in project planning, budgeting and implementation.

Other areas of discussion include vendor development initiatives to prepare women-led businesses for industry opportunities, awareness campaigns on available funding and potential affirmative procurement measures to increase participation by women-owned companies.

Eyong commended NCDMB for its existing gender inclusion initiatives and noted that several of the Board’s programmes align with efforts to advance women’s economic empowerment.

She also highlighted UN Women’s ongoing initiatives in economic empowerment, leadership development and the elimination of gender-based violence.

Responding to the proposals, Ezeobi welcomed the collaboration and reaffirmed NCDMB’s readiness to work with UN Women to expand opportunities for women in the oil and gas industry.

He highlighted initiatives already implemented by the Board to support women’s participation, business growth and leadership across the sector.

The proposed partnership is expected to strengthen existing interventions, improve awareness of financing opportunities and address structural barriers limiting women’s participation in Nigeria’s oil and gas industry.