An oil and gas company, Sterling Oil Exploration and Energy Production Company Limited (SEEPCO), has intensified efforts to promote economic empowerment among women in its host communities in Rivers and Akwa Ibom States through a financial literacy and entrepreneurship programme.
The initiative, implemented through the company’s Corporate Social Responsibility arm, the VCDF Foundation, is designed to equip women with the skills, knowledge and resources needed to establish and sustain small businesses.
The programme, which began last year, trained about 1,000 women drawn from various host communities. Participants received financial literacy training and start-up funds to establish micro-enterprises.
While many beneficiaries successfully invested the funds and grew their businesses, others failed to utilize the support effectively.
Building on the success of the first phase, SEEPCO and the VCDF Foundation have launched a second round of training targeting the first batch of 100 women who demonstrated commitment to their businesses. In addition to advanced business training, the participants are receiving working tools, equipment, consumables and other essential materials to strengthen their enterprises.
The current training, which commenced on May 22 and is expected to run for about two weeks, focuses on business planning, budgeting, savings, pricing, customer relations, financial record keeping, responsible spending and access to financial services.
Speaking during the programme in Iwofe community, the Village Head, Chief Goodfellow Julius, commended SEEPCO and the VCDF Foundation for implementing what he described as a life-changing initiative. He said the programme goes beyond skills acquisition by providing women with the knowledge, tools and confidence required to build sustainable businesses.
Chief Julius expressed optimism that the initiative would improve household incomes and strengthen livelihoods across the company’s host communities.
Some beneficiaries also praised SEEPCO and the VCDF Foundation, describing the programme as timely and impactful. One of the participants, Peace Emem, said the training and business support package had given her the confidence to start her own business and contribute more to her family’s welfare.