FG Pushes Women-Led Businesses as Key to Nigeria’s $1tn Economic Goal

The Federal Government has reaffirmed its commitment to supporting women-owned businesses, describing them as a crucial driver of Nigeria’s ambition to build a one-trillion-dollar economy.

The position was highlighted during a high-level policy colloquium organised by the Federal Ministry of Industry, Trade and Investment in Abuja, where government officials, development partners and private sector stakeholders gathered to discuss how Nigeria can take advantage of opportunities within the African Continental Free Trade Area (AfCFTA).

Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said the continental trade agreement presents a major opportunity for African economies by creating a unified market that connects over 1.3 billion people with a combined economic value exceeding three trillion dollars.

According to her, Nigeria’s ability to fully benefit from the agreement depends largely on strengthening local production capacity and ensuring that entrepreneurs — especially women — can compete effectively in regional markets.

She explained that women-owned enterprises already contribute significantly to economic activity but often face barriers such as limited access to finance, weak market connections and insufficient institutional support.

“When women entrepreneurs gain access to capital, markets and supportive policies, they become powerful contributors to job creation, industrial expansion and export growth,” she said.

Minister of State for Industry, Senator John Owan Enoh, also stressed that the success of AfCFTA for Nigeria would depend not just on trade agreements but on the strength of domestic industries.

He noted that women play an essential role across sectors including agriculture, retail trade, textiles and manufacturing value chains.

However, he said unlocking the full economic potential of women-led businesses requires deliberate policies aimed at removing structural constraints.

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Minister of Women Affairs, Hajiya Imaan Sulaiman Ibrahim, emphasised the importance of integrating gender-inclusive policies into trade and industrial development frameworks to enable women entrepreneurs to scale their businesses and participate more actively in regional commerce.

As part of ongoing collaboration between government institutions, the ministries of Industry, Trade and Investment and Women Affairs signed a Memorandum of Understanding to expand financial access for export-ready women-owned businesses.

The partnership will support training programmes, strengthen digital trade capabilities and establish a national database of women-owned enterprises to help link them with investors and markets across Africa.