A former commissioner, Ministry of Women Affairs and Social Development in Edo State, Hon. (Dr.) Florence Gbinigie, has advised women beneficiaries of Forum of Nigeria Women in Politics (FONWIP) interest free loan of N1 million not to jump into any business they are not familiar with just because others are doing it and prospering.
Speaking with the beneficiaries on the theme, ‘Empower Women, Prevent Violence’ during the FONWIP presentation of the fourth batch of interest free loan to nine beneficiaries in Benin City, the Edo State capital, Amb. Florence Gbinigie stated that this loan is given based on request and capability of managing the amount requested in line with the kind of business they are doing.
According to Gbinigie, “engage yourselves with what you are familiar with and have the capability to do it successfully. Most importantly, keep God first in all your understandings and place Him inside your business if you desire greater success. The testimonies of the previous beneficiaries, they can now fend for their families despite the challenges from their partners and those around them.”
She disclosed that FONWIP, in contribution to the eradication of violence against women and girls, has created this avenue of supporting women’s economy based towards making themselves reliant and economically vibrant, particularly the widows, single mothers, survivors of violence and the poor.
“To become a beneficiary, you must prove your capability of managing a business. FONWIP in continuation to promote, boost and support such businesses is giving out the fourth batch of this interest free loan. This is happening because of the success stories we have recorded from the previous batches. I congratulate you all for the progress recorded so far and urge you not to relent in pressing higher. Like I always said, you are getting to the level of owning your own factories, becoming wholesalers and distributors if you faint not,” she said.
She advised that, “in business, you should be committed, prudent in your spending and steadfast. Your business money should never be diverted to personal needs. The only money you can spend is the profit that comes out, do not copy people to do the wrong thing, be yourself and be innovative.”
Earlier, the Committee chair, Hon. Favour Oseki, who thanked the founder and president of FONWIP, Florence Gbinigie for the trust reposed on them to select the beneficiaries, disclosed that it was 10 women who indicated interest but nine scaled through for empowerment.
“This is the fourth batch of beneficiaries and they are expected to pay back in six months, while the first month is a grace period. Those who are consistent in their payment are entitled to get more money,” she said.
Two women testified how the interest free loan they took assisted them to set up their businesses and lamented that in the past when they accessed loans from another source, they paid interest of as much as 30 percent.
