Nigeria’s proposed 2024 budget has ignited a wave of concern and disappointment as a women’s group voices distress over the sharp decrease in allocation for Women’s Economic Empowerment (WEE) programs. The spotlight falls on the concerning revelation that less than one per cent of the N27.5 trillion total budget is dedicated to WEE initiatives, marking an 82 per cent drop from the previous year’s allocation.
The Partnerships for Advancing Women in Economic Development (PAWED), a women’s group, unveiled the stark findings during a press conference, where they disclosed that the 2024 budget only features 107 proposed WEE projects, a significant plummet from the 442 projects earmarked in 2023.
Falling Allocation and Renewed Hope Agenda
The group decried the meager allocation, emphasizing that it is the lowest budget for WEE since 2019, casting a shadow on the government’s professed commitment to WEE under its renewed Hope agenda. Mrs. Funmilayo Arowoogun, the National President of NECA’s Network of Entrepreneurial Women, highlighted the concerning shift, describing the 2024 allocation as “grossly inadequate” and stressing that it undermines the strides made in women’s economic empowerment since 2019.
Amidst the acknowledgement of the nation’s tight fiscal space, the group underscored the detrimental impact of reduced WEE funding on the government’s targets, advocating for a more comprehensive review to align with the aspirations of the Renewed Hope Agenda.
Path Forward and Ministry’s Proposal
The women’s group fervently appealed to the government to consider an upward, gender-disaggregated review of the 2024 budget allocation for WEE, underscoring the urgency to uphold the laudable commitments of the Renewed Hope Agenda and steer Nigeria towards a more inclusive and economically empowered future. Meanwhile, the Ministry of Women Affairs proposed over N10 billion for the 2024 fiscal year, encompassing overhead, personnel, and capital projects, reflecting the government’s stance on women’s empowerment.
PAWED and WEE
PAWED, supported by the Bill and Melinda Gates Foundation’s grant to the Development Research and Project Centre (dRPC), stands as a steadfast advocate for women’s economic empowerment. Comprising prominent organizations such as the Association of Women Entrepreneurs (AWITA), the National Association of Women Entrepreneurs (NAWE), and the National Council for Women Societies (NCWS), PAWED embodies a resolute force in championing the cause of WEE.
Understanding WEE
Women’s Economic Empowerment (WEE) represents a critical transformative process that equips women and girls with the necessary skills, resources, and opportunities to participate and compete equitably in markets. It seeks to elevate women from positions of limited power and voice to active agents in driving economic progress, amplifying their agency to harness and benefit from economic gains.
The intricate analysis conducted by dRPC illuminated the disturbing decline in WEE funding, employing comprehensive quantitative methodologies to dissect the capital component of the 2024 proposed budget. The resounding message from PAWED resounds globally, resonating with the collective goal of fostering gender equality and economic empowerment on a worldwide scale.
