WTO launches $50 million fund for women exporters, 146 Nigerian women to access funds
The World Trade Organization (WTO) and the International Trade Centre (ITC) have launched a $50 million Women Exporters in the Digital Economy (WEIDE) Fund, with Nigeria named as one of four pilot countries alongside Jordan, Mongolia, and the Dominican Republic.
The programme, unveiled in Abuja by WTO Director-General Ngozi Okonjo-Iweala, aims to help women entrepreneurs compete in the fast-growing digital economy through funding, training, and market access.
The WTO DG said Nigeria is among four countries chosen as pilot nations, with 146 Nigerian women selected to receive grants for expanding their digital economy businesses.
“Nigeria is one of 4 countries that successfully competed to be a pilot country alongside Jordan, the Dominican Republic, and Mongolia. 146 Nigerian women were selected through a competitive process from 67,000 applicants to receive grants to expand their businesses in the digital economy,” she said
Participants come from sectors such as fashion, tourism, agriculture, IT, and manufacturing, and will be trained to sell on global platforms, navigate export rules, and connect with investors.
Minister of State for Industry, John Owan Enoh, said he is confident the funds will boost Nigerian women’s participation in global markets and drive industrial growth.
“I am confident that these funds, when channelled effectively, will not only strengthen women’s participation in global markets but also propel industrial growth, foster innovation, and inspire the next generation of female trailblazers.
As a nation, we must continue to support, invest in, and celebrate the women who are building businesses, breaking barriers, and shaping the future of our economy,” he said
What you should know
In 2024, Nigeria’s export earnings reached a historic N77.4 trillion, with the momentum carrying into 2025 as total exports rose to N20.6 trillion in the first quarter. This marked a 7.42% increase from Q1 2024 and a 2.92% rise from Q4 2024.
Crude oil remained dominant, accounting for N12.96 trillion or 62.89% of total exports, while non-crude oil exports were valued at N7.64 trillion, with non-oil products making up N3.17 trillion. Mineral products led export categories with N17.56 trillion, followed by prepared foodstuffs, beverages, spirits, vinegar, and tobacco worth N1.43 trillion, and chemical and allied industry products worth N869.5 billion.
Europe was Nigeria’s largest export destination in Q1 2025, receiving N8.64 trillion worth of goods, followed by Asia with N6.75 trillion and America with N3.33 trillion.
Exports to Africa totaled N1.85 trillion, with ECOWAS countries accounting for 57.58% of that. South Africa, Ivory Coast, Senegal, Togo, and Ghana collectively took 93.91% of African exports.
On imports, China remained Nigeria’s top partner with N4.66 trillion, followed by India (N1.72 trillion), the United States (N1.42 trillion), the Netherlands (N809.83 billion), and the UAE (N617.18 billion). Within Africa, Angola, Togo, South Africa, Algeria, and Egypt were the main import sources.
