The United Nations Women has highlighted the crucial role of women entrepreneurs and small‑and‑medium enterprises (SMEs) in sustaining Nigeria’s economy. According to Beatrice Eyong, UN Women’s Country Representative to Nigeria, women‑led enterprises are driving growth, creating jobs and reducing poverty across communities, despite persistent challenges.
Nigeria’s economy is heavily reliant on SMEs: 96.7 percent of all businesses are micro, small or medium enterprises, contributing 49 percent of national GDP and employing more than 84 percent of the labour force. Women own about 43 percent of micro and small enterprises, but most of these businesses operate in the informal sector, are under‑capitalised and are often overlooked by formal policy and financial systems. Eyong noted that women entrepreneurs face significant obstacles, including poor infrastructure, limited internet access and regulatory bottlenecks. She emphasized the need to promote inclusion for women and to strengthen the link between policy formulation, implementation and accountability, involving women at every stage to ensure gender‑responsive financial mechanisms.
President Bola Tinubu, represented by his Senior Special Assistant on Entrepreneurship Development, commended the organizers of the Women Enterprise Alliance conference for choosing a theme that reflects current national and economic realities. He acknowledged the challenges entrepreneurs face, such as rising operational costs, and highlighted government efforts to reduce the cost of doing business and create an environment where SMEs can thrive. Initiatives include the Presidential Power Initiative and the Rural Electrification Agency’s renewable programmes, which aim to expand affordable, reliable electricity access. The Presidential Enabling Business Environment Council is also working to ease regulatory and tax burdens, simplify compliance and eliminate multiple levies affecting SMEs.
Women Enterprise Alliance founder Aisha Babangida stressed the importance of dismantling barriers to women’s participation in economic activities for national growth. She praised initiatives such as the UN Women‑led Affirmative Action Procurement Reform in Kaduna State, which reserves a share of public contracts for women‑owned and women‑led businesses. The conference concluded with the awarding of scale‑up grants to three women‑owned SMEs, free business registrations for 50 women‑owned enterprises and other empowerment opportunities. These measures are expected to build capacity, raise awareness and unlock greater opportunities for women‑led businesses, contributing to economic growth and sustainable development in Nigeria.
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