Economic Enpowerment of Nigerian Women through Proper Application of Loans and Management of Capital

By Malami, Hussaini Usman | Gender & Behaviour, June 2010 | Go to article overview

Economic Enpowerment of Nigerian Women through Proper Application of Loans and Management of Capital


Malami, Hussaini Usman, Gender & Behaviour


This paper is an attempt to make a modest contribution on how to finance Nigerian women economic empowerment programme. It also provides certain measures of proper monitoring and channeling those resources in order to achieve the target they are meant for. The writer is of the view that if proper monitoring is done, there is every possibility to achieve the desired goal.

INTRODUCTION

Women, the world over, have certainly been contributing to the economy. Nigerian women are also not left behind in this gigantic contribution to the national economy. Malami (1996) highlights various trades, occupations and economic activities which Nigerian women especially those in the Northern part engage. Malami (1998) again shows various economic activities in which the Nigerian women with special focus on Hausa women engage. These women carry out so many agricultural, manufacturing and industrial ventures.

Furthermore, Malami (2006) in his attempt to show the economic activities of the Sokoto Caliphate in the early nineteenth century Hausaland, highlights various types of agricultural, agro-allied, manufacturing and industrial activities. These activities featured prominently and consequently led to one level of economic progress or the other in the then society.

These businesses are however, carried out with very small capital which if serious care is not taken will consequently be lost. To be more specific, one can easily say that some of the businesses were carried out simply for the sustenance of the family as it is from hand to mouth due to their lack of ability to generate capital, because their marginal propensity to serve is negative.

This indicates that these viable women need one type of help or the other in order to provide or improve their manpower for the economic growth and development of their dear nation - Nigeria. There is definitely a strong need to support and help these women so that their contribution to the economy can make serious impact and economic advancement, so that their standard of living will be improved, this will later boast the national economy.

There were many attempts by many Nigerian Governments, such as Family Economic Advancement Programme, and the Family Support Programme, which could no doubt be very helpful, but they all failed due to various reasons that are beyond the scope of this paper.

The aim of this paper therefore, is to show the areas of appropriate application of resources. Then it will show the procedures upon which these women could secure loans/ credits, and the appropriate resources needed for their businesses. Later, we will see how the capital and the other resources could be managed so that their profit in various businesses could be increased.

SOURCES OF FUNDING

It is proposed here that the full funding for the commencement and continuation of any programme meant for the enhancement and economic empowerment of women is to be started by the federal government. This will be followed by the state governments, subsequently they will be followed by the private sectors, like banks, interested individuals, international agencies and organizations.

After the provision of the take-off grant, the federal and state governments should liars with some commercial banks and other interested investors for the disbursement of the funds to the desired individuals and groups as loans/ credits. These participating commercial banks should have widened networks in the country. Their widen networks will allow them to meet the desired women consisting of those in the urban as well as the rural areas.

In the absence of this type of commercial bank, each State should utilize the services of that bank which has the largest number of branches in its domain. It is advised here that the loan/ credits should serve as a revolving loan/ credit. Likewise, the revenue earned should be re-invested in the programme.

The loan should be given to either individuals or groups. …

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