The Minister of Women Affairs, Uju Kennedy-Ohanenye, on Monday, accused the Muhammadu Buhari administration of mismanaging the first tranche of the $500 million World Bank loan intended for women’s empowerment in Nigeria.

Kennedy-Ohanenye, who spoke on Arise Television’s Morning Show, alleged that the initial $100 million disbursed for the Nigeria For Women Project was poorly utilized by the last administration.

The loan, aimed at improving the livelihood of Nigerian women, was reportedly used mainly for advocacy, meetings, and consultancy services, with little transparency and accountability in its distribution among states.

The minister stressed that the project, launched in 15 states and the Federal Capital Territory, failed to benefit vulnerable women as intended.

She said: “About the Nigeria For Women Project, let me first tell Nigerian women to clap for President Bola Ahmed Tinubu, who came in after the first $100 million had been expended.

“When he came into the office, he looked at it with me and we were not satisfied with how the money was used.

“Let me make it clear, this is not a grant, it is a loan and when monies are given out as loans, they must be managed well so that the money can be paid back. if we don’t manage it well, how do we pay back the loan?

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“When money is a loan, we expect whoever is given the loan to be allowed to utilise it properly in a way that the money will be paid back, so Nigeria will not continue owing all the time.

“So, the first $ 100 million, when I came in, I was not satisfied. It didn’t augur well with the Renewed Hope agenda.

“It was mainly for advocacy, meetings, and consultancy, and that was it and they shared it among the states. But remember, the project is called Nigeria For Women Project. It is supposed to be meant for projects for women, but that was not the case.”

The minister expressed concern over the loan’s mismanagement, stressing the need for proper utilization to ensure repayment.

She commended President Bola Ahmed Tinubu for recognizing the issue and working to address it.

The allegations raise questions about the Buhari administration‘s handling of the loan and its commitment to gender equality and women’s empowerment.

The post Tinubu’s minister accuses Buhari govt of mismanaging $100m World Bank loan appeared first on Latest Nigeria News | Top Stories from Naomisophyblog.

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