Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, Thursday paid a courtesy visit to President Bola Tinubu in Abuja, where she unveiled a landmark initiative aimed at empowering Nigerian women entrepreneurs and bolstering the nation’s digital economy.
Speaking after the meeting at the Presidential Villa, Dr. Okonjo-Iweala disclosed that Nigeria had emerged as one of four countries globally selected for the launch of a new Women Exporters Fund for the Digital Economy, an initiative jointly spearheaded by the WTO and the International Trade Centre (ITC) in Geneva, to support female-led businesses, enhance job creation, and provide a critical social safety net amid ongoing economic reforms.
“This is a fund that is jointly managed by the WTO and the ITC. The idea is to support women so they can weather the economic storm, create jobs for themselves and others, and ultimately contribute more meaningfully to the economy,” she said.
The programme has already drawn considerable interest from Nigerian women, with over 67,000 applications received. Of these, 146 women have been selected for direct financial and technical support. Sixteen of the beneficiaries will participate in a “booster track”—an intensive 18-month programme tailored to scale up existing businesses with support from the WTO, ITC, Nigeria’s Ministry of Trade and Investment, and the Nigerian Export Promotion Council (NEPC).
The remaining 130 women will each receive a $5,000 grant along with 12 months of business development support to strengthen or launch their ventures, the WTO boss explained.
Dr. Okonjo-Iweala credited the Office of the First Lady and Nigeria’s Minister of Trade and Investment for their instrumental roles in securing the country’s selection for the initiative.
“This is just the beginning. It’s part of a broader conversation about how we build social safety nets in Nigeria and ensure women are at the center of economic growth”, she stressed.
On Nigeria’s economic outlook, the WTO chief praised the Tinubu administration for making strides in stabilizing the economy, noting that reform efforts are beginning to show results.
“We think the President and his team have worked hard to stabilize the economy—and stability is the foundation of growth,” she said. “The next challenge is to drive inclusive growth and put in place social safety nets to cushion the impact of reforms on ordinary Nigerians.”
