The World Trade Organisation (WTO), in partnership with Nigeria’s federal government, has launched a $50 million initiative aimed at empowering women entrepreneurs to compete in the digital economy.
The scheme, known as the Women Exporters in Digital Economy (WEIDE) Fund, was unveiled in Abuja on Thursday, August 14, with the First Lady, Oluremi Tinubu, describing it as a groundbreaking step toward eliminating the long-standing financial and structural barriers women face in trade.
The fund, according to BusinessDay, which will be jointly managed by the WTO and the International Trade Centre (ITC), will provide direct financial support, technical training, and market access for women-led micro, small, and medium enterprises (MSMEs).
Under the first phase, 146 Nigerian women entrepreneurs have been selected.
Sixteen of them, tagged as “booster track” beneficiaries, will each receive $30,000 alongside 18 months of technical assistance, while 130 others will receive $5,000 and one year of structured business support.
Ngozi Okonjo-Iweala, WTO Director-General, emphasized that the initiative will help women overcome systemic obstacles such as limited access to finance, poor digital infrastructure, and weak global networks.
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She also highlighted Nigeria’s strategic role as a pilot country, saying the programme will serve as a model for broader participation of women in global trade.
Representing the First Lady, Nana Shettima, Nigeria’s Second Lady, said the initiative aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritizes women’s economic empowerment and trade diversification.
She lauded the WTO and ITC for driving inclusive trade and positioning Nigerian women to expand their innovations into international markets.
Other dignitaries at the launch included Jumoke Oduwole, Minister of Industry, Trade and Investment, who called the project a global affirmation that women are equal players in digital commerce; Adewale Adeniyi, Comptroller-General of Customs, who pledged to reduce export bottlenecks for women-led businesses; and Bosun Tijjani, Minister of Innovation and Digital Economy, who reaffirmed government support for digital inclusion.
The WEIDE Fund, originally launched in Abu Dhabi in 2024 with backing from the FIFA World Cup 2022 Legacy Fund, the Government of Bahrain, and the United Arab Emirates, attracted over 600 applications globally.
Nigeria’s Export Promotion Council (NEPC) was selected as a key partner in this inaugural cycle.
By channeling financial aid and mentorship into women-led enterprises, the initiative is expected to strengthen Nigeria’s participation in the $4.25 trillion global digital trade market, where, according to WTO, Africa currently lags due to infrastructure and capacity gaps.
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