Tinubu’s Minister Accuses Buhari Govt Of Mismanaging $100 Million World Bank Loan

The Minister of Women Affairs, Uju Kennedy-Ohanenye has accused the Muhammadu Buhari administration of mismanaging the first tranche of the $500 million World Bank loan for women’s empowerment in the country.

Kennedy-Ohanenye made the claim during an appearance on Arise Television’s Morning Show on Monday.

According to her, the first tranche of the loan, which is $100 million, meant for the ‘Nigeria For Women Project’, was mismanaged.

Naija News reports that the women project is a strategic engagement between the World Bank and the Nigerian Government set to improve the livelihood of Nigerian women.

According to her, the first tranche of the loan, which is $100 million, meant for the ‘Nigeria For Women Project’, was mismanaged.

Naija News reports that the women project is a strategic engagement between the World Bank and the Nigerian Government set to improve the livelihood of Nigerian women.

According to her, the first tranche of the loan, which is $100 million, meant for the ‘Nigeria For Women Project’, was mismanaged.

Naija News reports that the women project is a strategic engagement between the World Bank and the Nigerian Government set to improve the livelihood of Nigerian women.

She said, “About the Nigeria For Women Project, let me first tell Nigerian women to clap for President Bola Ahmed Tinubu, who came in after the first $100 million had been expended. When he came into the office, he looked at it with me and we were not satisfied with how the money was used. Let me make it clear, this is not a grant, it is a loan and when monies are given out as loans, they must be managed well so that the money can be paid back. if we don’t manage it well, how do we pay back the loan?

“When money is a loan, we expect whoever is given the loan to be allowed to utilise it properly in a way that the money will be paid back, so Nigeria will not continue owing all the time. So, the first $ 100 million, when I came in, I was not satisfied. It didn’t augur well with the Renewed Hope agenda. It was mainly for advocacy, meetings, and consultancy, and that was it and they shared it among the states. But remember, the project is called Nigeria For Women Project. It is supposed to be meant for projects for women, but that was not the case.”

The minister also stated the new structure has been forwarded to the Minister of Finance, Wale Edun, for restructuring for the commencement of the disbursement.