Energy: Bagudu challenges women entrepreneurs to stay competitive
Omeiza Bilal
The Minister of Budget and National Planning, Senator Abubakar Bagudu has highlighted the importance of women entrepreneurs in staying competitive in the face of mounting 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, asserted that 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 as according to him, “This could help them remain competitive while transitioning to cleaner, more reliable energy sources.”
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,” he said.
