146 women to access $50m grants as WTO breaks barriers in Nigeria’s digital trade

The World Trade Organisation (WTO) has launched the first phase of its Women Exporters in Digital Economy (WEIDE) Fund in Nigeria, with a $50 million investment aimed at creating opportunities for women entrepreneurs in the digital economy.

The initiative, jointly implemented with the International Trade Centre (ITC), will provide financial support and technical assistance to women-led micro, small, and medium enterprises (MSMEs) to boost competitiveness, enhance access to finance, and connect to global markets.

Under the programme’s first phase, 146 Nigerian women entrepreneurs were selected. Sixteen “booster track” participants will each receive $30,000 and 18 months of technical support, while 130 beneficiaries will receive $5,000 and 12 months of dedicated business support.

Speaking during the launch on Thursday in Abuja, First Lady Senator Oluremi Tinubu, represented by the wife of the Vice President, Hajiya Nana Shettima, commended the WTO and ITC for the initiative. She said the programme aligns with President Bola Tinubu’s Renewed Hope Agenda to diversify the economy and empower women-led enterprises, while addressing barriers such as limited access to finance, networks, and digital infrastructure.

WTO Director-General Dr. Ngozi Okonjo-Iweala said the fund will help Nigerian women take their innovations beyond the country’s borders, positioning them to benefit from the expanding digital marketplace.

Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the WEIDE Fund as a global statement that women are equal partners in the digital economy. She said Nigeria’s selection as a pilot country reflects its strong potential for growth in digital trade.

Comptroller-General of Customs, Bashir Adewale Adeniyi, pledged to ease export bottlenecks for women entrepreneurs by fast-tracking export processes to enable their products reach global markets.

Funded by the FIFA World Cup 2022 Legacy Fund, the Governments of Bahrain and the United Arab Emirates, the WEIDE Fund was launched in February 2024 in Abu Dhabi. Following a competitive process that attracted 600 applications, the Nigerian Export Promotion Council (NEPC) emerged as one of its partners in the first funding cycle.