In a landmark move unveiled during this year’s International Women’s Day 2025 celebrations, Monday Okpebholo, Governor of Edo State, has approved a soft-loan scheme amounting to ₦1 billion directed exclusively to market women in the state. According to the governor, the initiative is intended to boost their businesses and improve their lives.
Speaking at the event in Benin City, Governor Okpebholo remarked, “Since I assumed office as Governor of Edo State, this is the first event that has been very colourful. I have been coming to the Festival Hall in Government House but have never seen a colourful event like this.” He further embraced the indispensable role of women in the state’s progress: “We can actually do nothing as men without the women, and that was why when a memo came before me on soft loan approval, I quickly approved ₦1 billion for our market women.”
The governor indicated that the process is already underway, with relevant financial institutions being engaged for disbursement, emphasising that the funds will be credited only to eligible women from Edo State. “The process is already ongoing, and we are talking to the relevant financial institution for disbursement as the money is ready and is credited only to Edo women.” He also applauded the integrity of the women beneficiaries, stating: “The women are truthful and straightforward. When they assure you of their backing, just relax and be assured that you will get their backing, especially during the election. Their words are firm.”
Meanwhile, Edesili Anani Okpebholo, Coordinator of the Office of the First Lady of Edo State, urged the women not to remain silent or marginalized: “their voices must be heard because they matter.” She reminded them that this year’s theme of “Accelerate Action” is no mere slogan, but a call to urgent inclusion, decisive change, and collaborative effort to overcome systemic inequalities and economic disparities.
From an economic perspective, by injecting ₦1 billion of interest-free credit into women-led micro-enterprises, Edo State is likely enhancing local purchasing power, stimulating small–scale commerce, and promoting financial inclusion among a historically underserved segment, thereby contributing to grassroots growth and poverty reduction within the state’s economy.
In summary, the soft-loan initiative signals Edo State’s commitment to empowering women traders, strengthening the informal economy, and fostering inclusive growth, while ensuring the resources are channelled directly to market women, thereby amplifying the multiplier effect on community livelihoods.
