146 women entrepreneurs in Nigeria are set to benefit from a $50 million grant as the World Trade Organisation (WTO) launched the first phase of its Women Exporters in Digital Economy (WEIDE) Fund in Abuja.
The initiative aims to break barriers for women-led businesses in digital trade and enhance their participation in global markets.
The launch event was attended by Nigeria’s First Lady, Senator Oluremi Tinubu, represented by the wife of the Vice President, Hajiya Nana Shettima, alongside WTO Director-General, Dr. Ngozi Okonjo-Iweala. Senator Tinubu described the initiative as “laudable” and in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on diversifying the economy and empowering women-led enterprises.
“This programme addresses long-standing barriers such as limited access to finance, networks, and digital infrastructure that have hindered women from reaching their full economic potential,” she stated.
She commended the WTO and the International Trade Centre (ITC) for creating a platform that fosters inclusive trade and enables Nigerian women entrepreneurs to take their innovations beyond the nation’s borders.
According to Dr. Okonjo-Iweala, the first phase of the fund will provide targeted support for selected women entrepreneurs. Sixteen “booster track” participants will receive $30,000 each and 18 months of technical assistance, while 130 other beneficiaries will get $5,000 each along with 12 months of dedicated business support.
She explained that the WEIDE Fund is designed to improve access to finance, boost competitiveness, and connect women-owned micro, small, and medium-sized enterprises to international markets.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, noted that the initiative sends “a global declaration that women are equal partners in the digital marketplace, not mere spectators.” She emphasized Nigeria’s position as a pilot country, highlighting its commitment and potential for growth in digital trade.
Comptroller-General of Customs, Bashir Adewale Adeniyi, pledged to remove bureaucratic hurdles in the export process for women entrepreneurs. “We will fast-track export processes and open the gates for Nigerian women to access global markets with their products,” he assured.
The Minister of Women Affairs, Iman Suleiman-Ibrahim, and the Minister of Innovation and Digital Economy, Bosun Tijjani, also delivered goodwill messages, commending the collaboration and expressing optimism about its long-term impact.
Funded by the FIFA World Cup 2022 Legacy Fund, the Government of Bahrain, and the United Arab Emirates, the WEIDE Fund was initially launched in February 2024 in Abu Dhabi. The aim is to close critical gaps in digital trade access and ensure women benefit from the growing online economy.
Following a competitive selection process that attracted 600 applications, Nigeria’s participation in the first funding cycle underscores its role as a key player in Africa’s digital trade development. The Nigerian Export Promotion Council (NEPC) was selected as a partner for the programme to further enhance its reach and effectiveness.
The WEIDE Fund represents a significant investment in women’s economic empowerment, creating a pathway for Nigerian entrepreneurs to expand their market presence, adopt new digital tools, and scale their businesses to compete globally.
With targeted grants and technical assistance, the initiative is expected to foster sustainable growth and position Nigeria as a hub for women-led digital enterprises.