The Federal Government has said women-led businesses will play a central role in Nigeria’s push to build a one-trillion-dollar economy and strengthen its position under the African Continental Free Trade Area (AfCFTA).The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said this on Friday in Abuja at a high-level colloquium organised by the ministry to discuss ways of improving access to finance and market opportunities for women-owned enterprises.
Oduwole described AfCFTA as a major opening for Nigerian businesses, noting that it connects more than 1.3 billion people in a market worth over three trillion dollars. She said women entrepreneurs must be deliberately supported to grow and compete across the continent.
According to her, better access to finance, markets and institutional support would not only help women scale their businesses, but also drive industrial growth, create jobs and expand trade.She said empowering women entrepreneurs fits into Nigeria’s wider plan to build a one-trillion-dollar economy through stronger exports, deeper industrial capacity and increased participation in continental trade.
Also speaking, the Minister of State for Industry, Sen. John Enoh, said Nigeria’s success under AfCFTA would depend on its ability to build competitive industries that can produce and export at scale.He noted that women already make important contributions in agriculture, retail, textiles and manufacturing, but still face major obstacles, especially in accessing finance and markets.
The Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, said gender-responsive trade policies were necessary if the country hopes to fully tap into AfCFTA opportunities and improve women’s participation in business.
She announced that her ministry had signed a Memorandum of Understanding with the Ministry of Industry, Trade and Investment to expand finance access for export-ready women entrepreneurs.
“The partnership will support export readiness training, improve digital trade capacity, and create a national database of women-owned enterprises,” she said.The Head of the Civil Service of the Federation, Mrs Didi Walson-Jack, said women’s participation would be critical to Africa’s trade growth and Nigeria’s wider economic transformation.
The Permanent Secretary of the Ministry of Industry, Trade and Investment, Amb. Nura Rimi, said empowering women entrepreneurs would also help grow Nigeria’s non-oil exports. He said the colloquium was designed to deepen collaboration among government agencies, investors and the private sector to support women-led enterprises and boost Nigeria’s competitiveness on the continent.
