The Minister of Budget and National Planning, Senator Abubakar Bagudu, has tasked women entrepreneurs to stay competitive, especially as they face challenges with energy costs.
The Minister noted this in Abuja on Monday at the stakeholders dialogue on improving access for the adoption of renewable energy and energy efficient technologies for Nigerian women in Agriculture and Trade organised by Heinrich Boll Stitung, Abuja in collaboration with SOSAI and Women Chambers of Commerce Industry Mines and Agriculture.
According to him, women are struggling with high costs, and if we don’t find affordable solutions for them and they may not be able to compete effectively in production. While energy support is crucial, we must ensure it is cost-effective.
He highlighted that women in urban areas might not benefit as much from some energy solutions as those in rural areas, where access to renewable energy sources could be more feasible.
He said modern energy sources, especially renewables, often come with high initial costs. We need to explore how to make these options affordable and accessible for women.
He further suggested that renewable energy companies should consider providing energy services directly to women entrepreneurs, rather than just selling them energy tools. This could help them remain competitive while transitioning to cleaner, more reliable energy sources.
The Minister also acknowledged the support from development partners, particularly in renewable energy, and stressed the need for innovation and collaboration.
The Minister also touched on the government’s ongoing efforts to support women, citing policies and programs aimed at ensuring women’s prosperity. He noted that various initiatives, including women-centric programs in partnership with development organizations and the government, are designed to benefit women.
Also, the founder and CEO of SOSAI Renewable Energies Company, Habiba Ali is their goal is to present these solutions, hear the women’s needs and proposed models, and identify actionable steps to support women-owned businesses.
“We aim for accelerated adoption of renewable energy resources for these businesses nationwide.
“Finally, on engaging women in rural areas who may be skeptical about renewable energy, we are collaborating with notable women’s organizations. Although many rural women lack access to such organizations, we are working with groups like the Council for Women (COA) and SWOFON farmers’ organization for women.
“By leveraging their existing networks, we hope to reach clusters of women in rural communities. At SOSAI, we have our own model for engagement, but we aim to collaborate with other organizations to expand our reach.
Also, the Senior Project Manager for Sustainable Nigeria Programme, Heinrich Boll Stitung, Donald Ikenna Ofoegbu said their main goal is to improve access to financing for clean, reliable, and efficient technology solutions, especially for women.
He explained that they are presenting business models to financiers, development partners, government representatives, and women’s cooperative groups.
“The models are designed to be flexible, allowing for different implementations. For instance, women’s cooperatives can finance renewable energy projects together, or institutions like banks, CBN, and the Bank of Industry can use these models to support renewable energy initiatives.
“We’re also using this event to craft core advocacy messages for stakeholders. We’ve been joined by the Minister of Budget and National Planning, as well as delegates from the House of Representatives, who are keen to take these messages forward.
” Our goal is to influence constituency projects and ensure local governments address the real needs of women, rather than just offering token gestures that don’t truly improve livelihoods.
“Women bear the brunt of energy deficits, and this program aims to present tangible solutions and advocacy strategies. Some of the innovative finance models we’ve explored include the lease-to-own model, which allows women to acquire assets like solar dryers, irrigation systems, and storage solutions, paying for them over time through small, regular payments.
“We also have pay-as-you-go models, which have already been tested in Nigeria. For example, a small businesswoman can apply for solar-powered solutions, paying small amounts daily, making clean energy accessible even to those with limited means.
” In terms of clean cooking, many women still rely on firewood, which poses health risks. With efficient, clean stoves, they can transition to safer, healthier cooking methods. Again, flexible payment models allow them to pay in small increments, making the transition more affordable,” he said.