What's Happening?
The Nigerian Export Promotion Council (NEPC) is actively working to propel women entrepreneurs onto the global stage, focusing on reducing Nigeria's dependence on crude oil by increasing non-oil export earnings. A key initiative is the partnership with
the International Trade Centre (ITC) and the Women Exporters in the Digital Economy (WEIDE) Fund program. This collaboration aims to empower 146 women-led businesses with grants ranging from $5,000 to $30,000. The NEPC has also strengthened its 'SheTrades Nigeria Hub' in partnership with the ITC, providing training, market access opportunities, and connections to international buyers for thousands of women exporters. Since its inception, over 5,000 women-led businesses have joined the Hub, benefiting from capacity building and coaching to become export-ready and integrate digital tools. The WEIDE Fund, a $50 million initiative launched in February 2024 by WTO Director-General Dr. Ngozi Okonjo-Iweala, aims to help women-led businesses in developing countries overcome financing and digital barriers to international trade. NEPC was selected as the sole African Business Support Organization to implement this program, attracting over 68,000 applications from women-led businesses across Nigeria.
Why It's Important?
This initiative is vital for Nigeria's economic diversification and the empowerment of women. Women-led businesses often face significant constraints in accessing finance, market information, digital tools, and certifications necessary for international trade. By addressing these barriers, the NEPC and ITC partnership can unlock the export potential of a large segment of the Nigerian economy, contributing to increased non-oil export revenues and sustainable economic growth. The focus on digital skills and AI integration is particularly critical in today's global marketplace, ensuring that Nigerian women entrepreneurs can compete effectively. Furthermore, supporting women in export trade has broader societal benefits, including poverty reduction, enhanced economic independence for women, and the creation of more inclusive value chains. The program's two grant categories, Discovery and Booster, are designed to cater to different stages of business development, providing tailored financial support for digital infrastructure, market entry, product innovation, and certification.
What's Next?
The first tranche of grants under the WEIDE Fund is expected to be disbursed after beneficiaries complete capacity-building and compliance processes. Beyond financial aid, beneficiaries will undergo digital and financial training, receive individual coaching, and participate in business clinics covering e-commerce, pricing, logistics, and customer service. The program also aims to facilitate relationships with e-commerce platforms and digital service providers, connecting women-owned businesses with international customers and new distribution channels. The NEPC's broader interventions include training young people and women in garment and bag production at its Export Skills Acquisition Centre, combining production training with an export orientation. The council continues to support women-owned enterprises in obtaining international certifications like HACCP, FDA, Halal, and ISO standards, with over 305 exporters already certified and another 567 undergoing the process. These efforts are part of a sustained strategy to move Nigerian women from small-scale domestic businesses into formal value chains and international markets.
Beyond the Headlines
The initiative highlights a strategic shift towards leveraging digital transformation and targeted financial support to address systemic inequalities in international trade. The overwhelming response of over 68,000 applications for the WEIDE Fund underscores the immense demand for such interventions and the entrepreneurial spirit of Nigerian women. This program is not just about economic growth; it's about fostering a more equitable and inclusive global trade system. By focusing on certifications, the NEPC is ensuring that Nigerian products meet international quality and safety standards, which is crucial for sustained market access. The emphasis on combining skills acquisition with market access is a critical insight, recognizing that technical skills alone are insufficient without the broader ecosystem of finance, market knowledge, and export procedures. This holistic approach aims to create resilient and sustainable women-led businesses capable of thriving in the competitive global landscape.
