The Federal Government has allocated N500 million to empower women interested in leather goods and footwear manufacturing.

The Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, announced on Monday, stating that the initiative was part of discussions at the Federal Executive Council meeting chaired by President Bola Tinubu.

Providing further details on the policy, Sulaiman-Ibrahim explained that the approval grants the Ministry of Innovation, Science, and Technology the mandate to supply starter packs for leather and footwear manufacturing, a sector in which women play a crucial role.

She described the initiative as exciting for women, as it encourages their participation in an industry with significant potential for economic growth.

“We pushed for a portion of this intervention to be allocated to women, ensuring they have the necessary tools to expand their businesses and contribute to local production,” she said.

According to the minister, the intervention will not only empower women entrepreneurs but also contribute to Nigeria’s Gross Domestic Product, GDP.

In a separate remark, Sulaiman-Ibrahim highlighted an unprecedented trend during this year’s Ramadan—the decline in food prices.

She attributed this to the administration’s well-thought-out policies, which were praised during both the caucus and National Economic Council, NEC meetings.

“For the first time, even during Ramadan, food prices are going down. This is a testament to the success of our policies, and Mr President was applauded for this achievement,” she stated.

Reaffirming President Tinubu’s commitment to the welfare of all citizens, particularly women, the minister expressed gratitude for policies that are ensuring the affordability and accessibility of food during the fasting period.

“This means that during Ramadan, families can cook and put food on the table, which is very important,” she added.