Nigeria unleashes women-led businesses to power $1trn economy drive 

The Federal Government has reaffirmed its commitment to placing women at the heart of Nigeria’s industrial expansion and continental trade ambitions.

This is as senior government officials, policymakers, and private sector leaders gathered in Abuja on Friday for a high-level colloquium focused on unlocking opportunities for women-led enterprises under the African Continental Free Trade Area (AfCFTA).

The event, convened by the Federal Ministry of Industry, Trade and Investment, explored strategies to strengthen access to finance, expand market opportunities and position Nigerian businesses—particularly those led by women—to compete effectively across Africa’s rapidly integrating market.

Delivering the keynote address, the Minister of Industry, Trade and Investment, Jumoke Oduwole, described the AfCFTA as one of the most transformative economic opportunities for the continent, linking more than 1.3 billion people within a market valued at over $3 trillion.

She noted that Nigeria stands to gain significantly from the continental trade framework if women entrepreneurs are intentionally supported to scale their businesses beyond national borders.

“This conversation is fundamentally about capital and opportunity,” the Minister said. “When women-led enterprises have access to finance, markets and the right institutional support, they become powerful engines of industrial growth, job creation and trade expansion.”

Speaking in the context of International Women’s Day and its theme, “Give to Gain,” Oduwole emphasized that inclusive growth requires deliberate collaboration among government, investors and the private sector.

According to her, expanding economic opportunities for women entrepreneurs is not only a matter of inclusion but also a strategic pathway toward achieving Nigeria’s ambition of building a $1 trillion economy through stronger exports, deeper industrial capacity and greater participation in continental trade.

The Minister of State for Industry, Senator John Owan Enoh, described the current moment as a defining period for Nigeria’s industrial growth within Africa.

He noted that while AfCFTA has created the world’s largest free trade area by number of participating countries, real economic gains will depend on the ability of African economies to build competitive industries capable of producing and exporting at scale.

“Trade agreements alone do not industrialise nations,” he said. “Nigeria’s leadership within AfCFTA will ultimately depend on the strength of our industries and the competitiveness of our enterprises.”

Senator Enoh observed that although women already play a significant role across Nigeria’s economic sectors—including agriculture, retail, textiles and manufacturing value chains—many women-led businesses still face major structural barriers to financing and market access.

“If Nigeria is to truly lead the AfCFTA,” he added, “we must unlock the productive potential of women-led enterprises at scale.”

In her remarks, the Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, stressed that fully harnessing AfCFTA opportunities requires integrating gender-responsive policies into national trade frameworks.

She highlighted the need for simplified business registration processes, improved documentation systems and more inclusive trade procedures that allow women entrepreneurs to formalise and scale their businesses.

“We must remove the barriers that limit women’s participation in trade and enterprise,” she said. “Empowering women economically is not only a question of fairness; it is a strategic investment in Nigeria’s prosperity.”

The Minister also announced the signing of a Memorandum of Understanding (MoU) between the Federal Ministry of Women Affairs and the Federal Ministry of Industry, Trade and Investment aimed at expanding access to finance for export-ready women entrepreneurs and strengthening their participation in continental trade.

The partnership will support initiatives such as export readiness training, improved digital trade capacity and the development of a national database of women-owned enterprises.

Also speaking at the event, the Head of the Civil Service of the Federation, Didi Esther Walson-Jack, commended the Ministry for creating a strategic platform that highlights the central role of women in economic development and Nigeria’s intra-African trade ambitions.

“Across the continent, women continue to drive innovation, entrepreneurship and enterprise development,” she said. “Their full participation will be critical to the success of AfCFTA and to Nigeria’s broader economic transformation.”

Earlier, in a welcome address delivered on behalf of the Permanent Secretary of the Ministry, Nura Abba Rimi, the Director of Investment Promotion, Gertrude Orji, described the colloquium as a timely engagement designed to strengthen collaboration among government institutions, investors and private sector stakeholders.

She noted that empowering women-led enterprises through innovative financing mechanisms and strategic partnerships will be essential for expanding Nigeria’s non-oil exports and strengthening the country’s competitiveness within Africa’s integrated market.

“Our objective is clear,” she said. “By supporting women entrepreneurs with access to finance, markets and policy support, Nigeria can unlock new levels of economic growth while building stronger value chains across the continent.”

The colloquium concluded with a renewed commitment from policymakers, development partners and private sector leaders to translate the discussions into concrete policies, programmes and partnerships that will accelerate industrialisation, expand market access and empower Nigerian women-owned enterprises to thrive within the AfCFTA framework.