The World Trade Organisation (WTO) has kicked off 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 space.
In this phase, 16 Nigerian women entrepreneurs will receive $30,000 each and 18 months of technical support, while another 130 beneficiaries will get $5,000 each along with 12 months of dedicated business assistance.
A joint initiative of the WTO and the International Trade Centre (ITC), the WEIDE Fund seeks to empower women-led MSMEs by improving access to finance, boosting competitiveness, and linking them to global markets.
Speaking at the launch in Abuja, the First Lady, Senator Oluremi Tinubu represented by the wife of the Vice-President, Hajiya Nana Shettima described the programme as laudable.
She noted that it aligns with President Bola Tinubu’s Renewed Hope Agenda, which prioritises economic diversification and the empowerment of women-led enterprises.
Mrs Tinubu said the WEIDE Fund addresses persistent challenges such as inadequate access to finance, limited networks, and underdeveloped digital infrastructure that have long constrained women’s economic potential.
She praised the WTO and ITC for spearheading what she called a groundbreaking initiative to promote inclusive global trade and help Nigerian women entrepreneurs take their innovations to international markets.
WTO Director-General, Dr. Ngozi Okonjo-Iweala, confirmed that the fund’s first phase will channel $50 million into supporting women entrepreneurs.
She said 146 participants had been selected 16 in the ‘booster track’ to receive $30,000 and 18 months of technical support, and 130 others to receive $5,000 and 12 months of targeted business support.
Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole, described the initiative as a global declaration that women are “equal partners in the digital marketplace, not mere spectators.” She added that Nigeria’s role as a pilot country reflects its strong commitment and potential for growth in digital trade.
The Comptroller-General of Customs, Bashir Adewale Adeniyi, pledged to remove bureaucratic hurdles for women entrepreneurs seeking to export their products, promising to fast-track processes and expand their access to global markets.
Funded by the FIFA World Cup 2022 Legacy Fund, the Government of Bahrain, and the United Arab Emirates, the WEIDE Fund was launched in February 2024 in Abu Dhabi to close key gaps and open opportunities for women in digital trade.
Out of 600 applications received, the Nigerian Export Promotion Council (NEPC) was chosen as one of the partners for the fund’s first cycle.
