The Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, has underscored the importance of inclusive, affordable consumer credit in driving entrepreneurship, empowering women and accelerating Nigeria’s economic transformation.
Speaking at the launch of the YouthCred for Entrepreneurs initiative by the Nigerian Consumer Credit Corporation (CREDICORP) in Abuja, the Minister described the programme as a practical demonstration of the Nigerian Government’s commitment to expanding economic opportunities for young entrepreneurs under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“This is a commendable project. Nigeria stands at a defining moment in its economic journey. As we build a more inclusive, productive and resilient economy under the Renewed Hope Agenda of His Excellency President Bola Ahmed Tinubu, we must ensure that every Nigerian with the vision and determination to succeed has the fair opportunity to do so,” the Minister said.
She noted that access to finance remains the missing link between ambition and enterprise for many young Nigerians, stressing that initiatives such as YouthCred would unlock innovation, stimulate business growth and create employment.
The Minister observed that women continue to face greater obstacles in accessing formal credit despite their proven entrepreneurial capacity.
“Nigerian women continue to demonstrate extraordinary resilience and entrepreneurial spirit, yet many remain excluded from the formal financing systems because they lack collateral, established credit history or access to affordable financing,” she stated.
Sulaiman-Ibrahim said “the Ministry of Women Affairs is addressing these challenges through the Renewed Hope Social Impact Intervention 774, which expands access to finance, enterprise development, digital inclusion, productive assets and market opportunities for women in all 774 local government areas.”
According to the Minister, the current administration has shifted its focus from welfare to sustainable economic empowerment.
“Under Mr President’s watch, women are moving from just being mere beneficiaries to also being entrepreneurs. They are exploring the value chain to create their own path to prosperity and, with access to facilities like the one we are launching today, they can choose how they play,” she said.
Describing finance as a catalyst for development, Sulaiman-Ibrahim said:
“Access to finance is not simply about credit; it’s about confidence. It gives entrepreneurs the opportunity to invest, to expand, to employ and also to dream bigger,” noting that the initiative would contribute to the administration’s aspiration of building a one-trillion-dollar economy.
She maintained that the programme’s success would ultimately be measured by the businesses it helps to grow, the jobs it creates and the communities it transforms.
The Minister also commended CREDICORP for deliberately integrating gender inclusion into its programmes, describing the approach as “essential to achieving sustainable national development.”
“The Ministry of Women Affairs would like to reiterate their commitment to this particular initiative. And CREDICORP have always looked at things with that inclusive lens because they’re the only organisations that have recognised that this country is over 50 per cent women. So whatever they do, they ensure that women are also beneficiaries and that helps our national development,” she said.
Sulaiman-Ibrahim further applauded the Ministry of Finance, the Ministry of Youth Development, Wema Bank and other partners for working together to remove barriers to finance, expand opportunities for entrepreneurs and promote inclusive economic growth nationwide.
