By Musa Muhammad Kutama, Calabar
Akwa Ibom State Governor, Pastor Umo Eno, has launched a N7.38 billion cooperative support fund aimed at strengthening women-owned businesses and promoting inclusive economic growth across the state’s 369 wards.
The initiative, described as one of the administration’s biggest investments in women’s economic empowerment under the ARISE Agenda, will provide N20 million to registered cooperative societies in each ward.
In a statement issued to journalists in Calabar by the Governor’s Media Aide, Ekaette Okon Joseph, the programme was designed to expand financial access, support small-scale businesses and position women as key contributors to sustainable economic development.
“Governor Umo Eno has unveiled a N7.38 billion cooperative support fund for women across Akwa Ibom’s 369 wards, marking a major step towards strengthening grassroots enterprises and accelerating inclusive economic growth,” the statement said.
The governor announced the initiative during the Women’s Mobilisation and Sensitisation Programme held in Nsit Ubium Local Government Area, stressing that the fund would be accessible to women across the state irrespective of political affiliation.
According to him, the objective is to help women grow their businesses, increase household incomes and stimulate economic activities in communities.
He explained that the use of registered cooperative societies and Permanent Voter Cards as part of the identification process was to ensure transparency, accountability and proper documentation during the disbursement of the funds.
The governor’s aide said the intervention would directly inject capital into grassroots economies where women are actively involved in agriculture, food processing, trading and other small businesses.
She noted that cooperative financing would provide many women who face difficulties accessing conventional loans with opportunities to expand their enterprises, create jobs and achieve financial stability.
The N7.38 billion fund, according to the statement, is part of a wider women-focused economic empowerment programme of the Umo Eno administration.
Earlier, the state government commissioned modern oil palm processing mills across the 31 local government areas under the World Bank-supported Nigeria for Women Project, alongside N890 million revolving loans for women cooperatives and N450 million counterpart funding.
The programme has reportedly mobilised over 39,000 women into cooperative groups, with the processing mills designed to improve productivity and increase income opportunities through modern agricultural methods.
Beyond agriculture, the administration has also supported women through entrepreneurship development programmes, approval of 15 minibuses for female commercial drivers and partnerships aimed at improving women’s economic independence.
Deputy Governor, Senator Akon Eyakenyi, described the cooperative initiative as another demonstration of government’s commitment to empowering women, urging beneficiaries to organise themselves into registered cooperatives and obtain their Permanent Voter Cards and National Identification Numbers.
The Coordinator of the Office of the First Lady, Mrs Helen Obareki, said the ongoing sensitisation campaign was aimed at ensuring women across the state understand the programme and benefit from it.
Meanwhile, the Special Adviser on Cooperative Societies, Mrs Alice Ekpenyong, explained that the government would channel the funds directly through registered cooperative societies to reduce interference and strengthen accountability.
Traditional leaders and stakeholders have also welcomed the initiative, describing it as a programme capable of improving women’s businesses, family welfare and community development.
The Secretary to the State Government, Prince Enobong Uwah, through his wife, Dr Inemesit Uwah, donated N5 million towards the cooperative initiative, while Barrister Eno Idem, SAN, also contributed N5 million in support of the programme.
Observers believe the intervention aligns with wider efforts to promote women’s financial inclusion and entrepreneurship, noting that increased access to capital and organised markets can improve productivity, create employment and strengthen local economies.
With effective implementation, the N7.38 billion cooperative fund could become a landmark grassroots economic intervention in Akwa Ibom, reinforcing the role of women as partners in economic transformation.
