Today, the Honourable Minister of Industry, Trade and Investment, Dr Jumoke Oduwole (MFR), proudly co-hosted the World Trade Organisation’s launch of the $50 million Women Exporters in the Digital Economy (WEIDE) Fund in Abuja. In welcoming WTO Director-General Dr Ngozi Okonjo-Iweala, the Minister underscored Nigeria’s commitment to gender-inclusive growth, export diversification, and digital transformation.
“As a nation that aspires to build a $1 trillion economy, we cannot leave half our population offline,” Dr Oduwole declared. “The WEIDE Fund is more than finance—it is a strategic statement that we will dismantle barriers, equip women with digital export tools, and align our Industrial Policy and AfCFTA ambitions with real opportunities for female-led businesses.”
During the unveiling of the global fund to empower 146 women entrepreneurs in digital trade, Dr Okonjo-Iweala warned that global commerce is facing “extremely challenging times” marked by rising unilateralism and protectionism. She cautioned 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 digital trade market.
Dr Okonjo-Iweala lauded the Federal Government’s $2 billion fibre-optic rollout to connect rural and secondary cities, noting that digital trade cannot thrive without reliable electricity and connectivity. “No nation can truly digitise without a steady power supply,” she said. “Only 45 per cent of Nigerians are connected to the internet today, compared to the global average of 67 per cent.” She called for urgent inter-ministerial collaboration among the Ministries of Power, Communications, Women’s Affairs, and Trade to sustain and scale the initiative.
The WEIDE Fund is a joint effort of the WTO and the International Trade Centre aimed at equipping women-owned businesses in developing countries with the skills, resources, and networks to participate competitively in global value chains.
In her response, Dr Oduwole thanked the WTO and the ITC for their partnership with the Federal Government and outlined the Ministry’s plan to:
- Fast-track inter-ministerial collaboration on power, communications, and trade
- Leverage Nigeria’s $2 billion fibre-optic rollout to ensure rural inclusion
- Mobilise the Nigeria Export Promotion Council (NEPC) and the Nigeria Customs Service to provide dedicated support, streamlined procedures, and market-readiness training for WEIDE beneficiaries.
At the event, the Minister of State for Industry, Trade and Investment, Sen. John Owan Enoh, detailed the operational framework to disburse up to US$5,000 per entrepreneur along with one year of business support. Mrs Nonye Ayeni, Director-General of NEPC, pledged export facilitation and buyer connections, while Comptroller-General Bashir Adeniyi committed to gender-responsive customs reforms.
The launch of WEIDE marks a turning point in Nigeria’s trade agenda — one that places women at the heart of our digital economy, strengthens our global competitiveness, and cements the Ministry’s leadership in driving inclusive, sustainable growth.
Signed
Dr Adebayo Thomas
Director of Press & Public Relations
Federal Ministry of Industry, Trade and Investment
press@fmiti.gov.ng | +234 (0)803 786 3662
14th July 2025
