The Federal Government of Nigeria has officially requested an extension of the deadline for the $100 million Nigeria for Women Project (NFWP) from the World Bank. The request, outlined in a letter dated January 23, 2024, seeks to extend the project’s closing date from March 29, 2024, to June 30, 2024, marking the second restructuring attempt to ensure the completion of its objectives.
In a document released on Monday and obtained from the World Bank, it was stated that the restructuring paper seeks the approval of the country director to extend the project closing date of the Nigeria for Women Project (NFWP) by three months. The first restructuring, approved on May 17, 2023, consisted of a 10-month extension and a revision of the results framework (RF) to reflect findings of the project’s mid-term review.
Despite the initial extension, the project has not fully disbursed the funds under Component 2, with 7.46 percent still undisbursed. The extension is deemed necessary to complete livelihood activities and disburse the remaining funds under Component 2.
The NFWP, approved on June 27, 2018, with an International Development Association (IDA) credit of $100 million, aims to improve livelihoods for women across Nigeria by engaging them in economic activities. It is structured around four main components: building social capital, livelihoods program, innovation and partnerships, and project management, monitoring, and evaluation.
As of March 11, 2024, the project has a cumulative disbursement of $87.34 million, leaving an undisbursed balance under Component 2 of $7.04 million. Despite notable achievements in Component 1, progress in Component 2, particularly in the Livelihoods Program, has been slower than anticipated due to implementation and financial management challenges.
The extension is expected to allow for the completion of pending activities, including the final disbursements of individual grants and the establishment of necessary infrastructures for the Livelihood Collectives. The midline Impact Evaluation suggests a positive impact on important metrics such as female labor force participation and income diversification.
To align with the extended timeline, all pending contracts related to the Livelihood Collectives are expected to be signed by April 30, 2024, with completion by the proposed new deadline.
