June 29 (THEWILL) — Development is often measured in kilometres of roads, bridges, hospitals and other physical infrastructure. Yet history has consistently shown that the most enduring investments are those made in people.
When governments deliberately empower women with access to finance, productive assets and opportunities, the returns extend beyond individual beneficiaries to entire households, communities and economies. It is against this backdrop that the Akwa Ibom State Government’s decision to establish a ₦7.38 billion cooperative fund for women deserves attention, not merely as another social intervention, but as an economic strategy capable of reshaping grassroots prosperity.
Governor Umo Eno’s approval of ₦20 million for women in each of Akwa Ibom’s 369 wards under registered cooperative societies represents one of the largest single investments in women’s economic empowerment in the state’s history, and beyond the impressive figures lies a deliberate policy choice: placing women at the centre of economic growth under the administration’s ARISE Agenda.
For decades, one of the greatest obstacles confronting women entrepreneurs has been limited access to affordable finance. Across rural and urban communities, thousands of women operate micro and small businesses in agriculture, food processing, petty trading, fashion, catering and other informal sectors.
Despite their enormous contribution to local economies, many remain excluded from conventional banking because they lack collateral, formal credit records or other requirements demanded by commercial lenders.
The cooperative model seeks to bridge that gap.
By channelling funds through registered cooperative societies, the government is not simply distributing financial assistance but strengthening community-based institutions that promote savings, accountability, peer support and sustainable business growth. It is an approach that has produced measurable success in several developing economies.
Equally significant is the administration’s insistence on transparency. The requirement for registered cooperatives and proper identification through Permanent Voter Cards provides an organised framework for accountability while reducing opportunities for abuse and political patronage. Such institutional safeguards are essential if public interventions are to achieve lasting credibility.
More importantly, the ₦7.38 billion fund does not exist in isolation. It builds upon a broader economic philosophy that has increasingly defined Governor Eno’s administration.
Earlier this year, Akwa Ibom commissioned modern oil palm processing mills across its 31 local government areas under the World Bank-supported Nigeria for Women Project. Supported by substantial counterpart funding and revolving loans for women cooperatives, the programme has already mobilised tens of thousands of women into organised economic groups while introducing modern processing technology capable of improving productivity and incomes significantly.
The administration has also supported female commercial drivers with minibuses, expanded entrepreneurship training through the Ibom Leadership and Entrepreneurial Centre, and partnered with organisations promoting women’s enterprise. Viewed collectively, these initiatives reveal a coherent policy direction rather than isolated empowerment programmes.
This is important because economic transformation rarely occurs through one-off interventions. Sustainable growth requires complementary investments in finance, skills, production, markets and institutional support. Akwa Ibom appears to be pursuing exactly that combination.
International development experience reinforces this strategy. Countries that have expanded women’s access to finance through cooperative systems have generally recorded improvements in household incomes, children’s education, food security and local enterprise development.
Studies by global development institutions consistently show that women are more likely to reinvest business earnings in their families and communities, creating multiplier effects that benefit society far beyond individual businesses.
Nigeria itself continues to face significant gender gaps in financial inclusion and entrepreneurship. Many women-owned businesses remain undercapitalised despite their growth potential. Any intervention that expands access to affordable credit while encouraging organised savings and enterprise development, therefore, deserves serious consideration.
Deputy Governor Senator Akon Eyakenyi’s appeal for women to join registered cooperatives and obtain their Permanent Voter Cards reflects another important dimension of the programme. Economic inclusion and civic participation often reinforce one another. Organised citizens are generally better positioned to access public opportunities, participate in governance and contribute to community development.
Similarly, the statewide sensitisation campaign coordinated by the Office of the First Lady demonstrates an understanding that awareness is just as critical as funding. Public programmes only succeed when intended beneficiaries understand both their opportunities and responsibilities.
Traditional institutions have equally recognised the potential impact of the initiative. Their support underscores a growing consensus that empowering women ultimately strengthens families, improves child welfare and stimulates community development.
The true value of the programme, however, will not be determined by the size of the allocation or the publicity surrounding its launch. Success will depend on transparent implementation, effective monitoring, responsible management by cooperative societies and measurable improvements in business performance and household incomes.
Public policy should always be evaluated by outcomes rather than intentions. If the funds reach genuine entrepreneurs, expand businesses, create jobs and improve living standards, the initiative could become a model for grassroots economic development across Nigeria.
At a time when governments are searching for practical solutions to unemployment, poverty and sluggish economic growth, Akwa Ibom’s investment offers an important lesson. Empowering women is not merely a welfare programme or a political slogan. It is an economic imperative.
If faithfully implemented, Governor Umo Eno’s ₦7.38 billion cooperative initiative may ultimately be remembered not simply as another empowerment scheme but as a strategic investment in the productive capacity of the state’s greatest untapped economic resource, which is its women.
That would represent not only a victory for gender inclusion but also a significant step toward building a more resilient and inclusive economy.
Ekaette Okon-Joseph is the Special Assistant on Media to the Governor of Akwa Ibom State.
