…As WTO, ITC, NEPC launch WEIDE Fund to empower women entrepreneurs

By Juliet Umeh

Director-General of the World Trade Organization, WTO, Dr. Ngozi Okonjo-Iweala, has warned that Nigeria’s low internet penetration, with more than half of the population still offline, could limit the country’s ability to tap into the fast-growing global digital trade market.
Speaking at the launch of the Women Exporters in the Digital Economy, WEIDE, Fund in Abuja, on Thursday, Dr. Okonjo-Iweala said only 45 percent of Nigerians are connected to the internet, far below the global average of 67 percent.
WTO DG said: “No nation can truly digitize without a steady supply of electricity and reliable, affordable internet. More than half of Nigerians remain disconnected, and this gap must be closed if we are to seize the opportunities of digital trade.”
According to her, “Nigeria is one of four countries chosen for the WEIDE Fund’s 2024 rollout, alongside Jordan, Mongolia, and the Dominican Republic, after a highly competitive selection process.
“The Nigerian Export Promotion Council, NEPC, led by Executive Director Nonye Ayeni, will implement the program locally.
“Over 67,000 Nigerian women entrepreneurs applied for the fund. Due to the exceptional quality of entries, the number of beneficiaries was increased from 100 to 146 awardees.
“Sixteen entrepreneurs in the Booster Track will each receive up to US$30,000 and 18 months of technical assistance.
“One hundred and thirty entrepreneurs in the Discovery Track will each get up to US$5,000 and a year of business support.
“Beneficiaries operate across sectors such as agriculture, IT, fashion, hospitality, beauty, and manufacturing.”
Dr. Okonjo-Iweala stressed that digital trade, valued globally at US$4.25 trillion, is the fastest-growing segment of commerce, yet Africa’s share remains below 1 percent.
She urged inter-ministerial collaboration among the Ministries of Communications, Industry, and Power to close the connectivity gap, improve infrastructure, and empower women to compete globally.
She added: “When women trade internationally, they earn almost three times more than those who sell locally. The WEIDE Fund is about giving Nigerian women the tools, skills, and market access to multiply those gains.”
Also in his remarks, Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, committed to supporting the initiative, noting that women entrepreneurs bring a unique ability to connect products to real-life problems.
Tijani said: “Empathy is women’s superpower in business, and it is this empathy that creates solutions with lasting impact.”
Also in his remarks, President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture, NACCIMA, Dr. Dele Oye, praised the programme for positioning Nigeria in the digital trade ecosystem and supporting the country’s ambition to build a $1 trillion economy.

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