To extend the deadline for the $100 million Nigeria for Women Project, FG writes to the World Bank.

The Nigerian Federal Government has formally requested an extension of the deadline for the $100 million Nigeria for Women Project (NFWP) from the World Bank.

In a letter dated January 23, 2024, the request is made to move the project’s deadline from March 29, 2024, to June 30, 2024. This is an effort at a second restructuring to make sure the project’s goals are met.

A document seized from the World Bank and made public on Monday said:

“This restructuring paper requests approval from the Country Director to move up the Nigeria for Women Project (NFWP) (P16134) project closing date from March 29, 2024, to June 30, 2024, a three-month extension.”On January 23, 2024, the Federal Ministry of Finance sent a letter requesting another restructure.

About the Nigeria for Women Project

The NFWP, originally approved on June 27, 2018, via an International Development Association (IDA) credit of $100 million, has been primarily designed to foster improved livelihoods for women across various states of Nigeria by engaging them in meaningful economic activities and business ventures.

The project aims to equip women with the necessary skills and resources to engage in sustainable economic activities, enhancing their contributions to household incomes and community development. The project is structured around four main components:

1. Building Social Capital: This component focuses on community engagement and empowerment of women through the creation and support of Women Affinity Groups (WAGs).
2. Livelihoods Program: It provides direct support to individual and collective business initiatives, offering grants and resources necessary for business development.
3. Innovation and Partnerships: This area fosters innovation and strengthens partnerships with local and international organizations to support the project’s goals.
4. Project Management, Monitoring and Evaluation, and Learning: This component ensures the effective management and oversight of the project, including the assessment of progress towards meeting its objectives.