By Gbenga Aladeotan
The economic state of the Nigerian nation has moved from bad to worse in the last 4 years with FG struggling with borrowing, inflation, reduced partronage of the crude export and steady decline in the price of crude oil.
Between August and September alone, Nigeria's annual inflation rate continued to accelerate to reach an over 18-year high of 26.7% in September 2023, up from August's 25.8%, mainly attributed to second-round effects of the removal of petrol subsidy and the devaluation of the naira against the greenback on both the official and parallel markets.
Women bear the brunt of the poverty and hardship in the land as they take care of the homes and families, in the words of Harriet Beecher Stowe - Women are the real architects of society." If they succeed so does the society. The burden an average Nigerian has had to bear this year has been harsh and with a lot moving below the poverty line and a lot more moving into depression.
The death of the middle class was announced earlier in the year when inflation and unemployment hit close to 25% but the funeral of the middle class was the announcement of the petrol subsidy removal in May.
For every dark tunnel their still emerge a ray of light and one of those shinning ray this year has been Nestle’s drive to improve household income by working with the maxim Empowered women empower women."
Nestle Nigeria in the last 2 years has helped over 332 women improve their businesses by over 300% through The Nestle Empowering Women Program in Nigeria. The program has grown women within the value chain by building financial security. The business training covers a variety of topics ranging from merchandising to book-keeping, customer service and mentorship. The training further empowers each participants with products valued at 300% of their monthly sales as at the time of joining the training.
The statistics that 90% of new businesses die within the first three years of their establishment makes this program a joy as beneficiaries get 3 months mentorship in this program and each woman has access to one-on-one coaching to ensure that learnt skills are implemented.
It is on record that over 60% of participants and beneficiaries meet 300% growth target set in the first three months, the testimonies of women in the Sabo-oke area of Sagamu LGA shows the joy of empowering women.
Bibire stores managed by Mrs. Adesola Makanjuola was part of the 7th batch beneficiaries she has this to say “ it’s a miracle that this program came to me this year as I thought a month ago I was going to close my stores due to the constant change in prices of our goods, but now am majoring on Nestle product alone and the training and support we have gotten has not only saved the business but also saved me as an individual. I want to say a big thank you to Nestle and may Almighty Allah continue to enlarge them.”
HRM Babatunde Adewale Ajayi (Akarigbo of Remoland) represented by Kabiyesi Odofin Soyindo recognizing the importance of women empowerment at the Sagamu on-boarding of beneficiaries in the area thanked the organization and admonished beneficiaries to judiciously use the grants given.
Mr. Khaled Ramadan, Nestle Nigeria’s Commercial Manager assured women that they are not stopping yet, “creating shared value is the core in the way we do business, The Rural Women Empowerment program is not a one time event but an ongoing process of value creation.”
To think that in the last 2 years over 332 business have been stabilized and brought into profiting and that they are managed and run by women who will in turn empower others to make ends meet through the effort of Nestle Nigeria is a light for a nation under so much economic strain.