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FG boost Nig women-owned businesses

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By Mercy Kelani

40 percent of businesses in Nigeria are female-led enterprises.

Mr. Olawale Fasanya, the Director-General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), stated emphatically the interest of the Federal Government to develop businesses owned by women in the country. This statement was made by Fasanya at the launch of “Meet With the CEO” in partnership with the International Labour Organization (ILO) in Abuja on September 13, 2023. The director-general stated that there is an initiation of a gender desk by the SMEDAN in order to guarantee the plan.

SMEDAN kept 50 percent of its empowering programmes for women. Fasanya also added that deepening and broadening the capacity of the MSME operators were the objectives of the event, particularly on regulatory issues. He said that the programme will ensure that the agency establishes need based programmes which would promote MSME competitiveness in the international market. According to Fasanya, using the review of the National Bureau of Statistics (NBS), it was stated that 40 percent of businesses in Nigeria are run by females.

Women entrepreneurs are pivotal drivers of economic resurgence.

Judging from the prospects and strategies of the businesses run by women, their enterprises are positively impactful, growing the economy of the country and boosting the creation of job opportunities for citizens of Nigeria. Fasanya mentioned that the businesses that are led by visionary and ambitious women entrepreneurs are growing as pivotal drivers of economic resurgence in Nigeria. In addition, the businesses are contributing and impacting development, all over the diverse sectors of the country.

Fasanya reiterated that businesses led by females have continually showed high level of optimism and resilience, despite the negative impact of the challenges that attack the nation such as economic downturn, climate change and the COVID-19 pandemic. He said that it is enthralling, considering the resilient impacts of businesses led by females, to continually add to the success of the country regardless of the ordeals they encounter as women entrepreneurs. A more intentional approach is taken by the ecosystem and government players to assist the demographic segment for more development.

International Labour Organization was commended for its support.

Furthermore, he said that investment in businesses led by females aids multiple advantages that will boost the creation of wealth, reduction of poverty and generation of employment in the country. The director-general further implored the participants to encourage interactions among themselves along with government officials, and ensure to network and inquire more by asking questions on ways to progress in the sector. He expressed his appreciation to their Co-host, the International Labour Organization (ILO), for their ceaseless supports and contributions.

The Co-host, the ILO, gave its unwavering contribution towards the achievement of sustainable development, social justice and the promotion of equal human rights. Celina Unogwu, the Founder of the Celina Unogwu Visioning Academy (CUVA), emphasized that a woman entrepreneur must have a balanced and structured work life. According to Unogwu, intersection of personal life and work are the features of work life balance. This means a balance or an equilibrium life is the equalizer between a professional life and a personal life.

Nigeria SMEDAN renders assistance to small & medium scale ENTs.

She stressed the significance of an entrepreneur being a visionary and hardworking person. Unogwu implored all the participants to believe in their dreams and be focused. In Nigeria, Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) renders assistance to small and medium scale enterprises to conquer challenges of poor infrastructure in managing business operations and accessing financial services, among others. It contributes immensely to the facilitation of the access of business enterprises to finance.


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AN-Toni
AN-Toni
5 months ago

FG boost Nig women-owned businesses.40 percent of businesses in Nigeria are female-led enterprises. – Express your point of view.

Last edited 5 months ago by Kenny Adetunji
Adeolastan
Adeolastan
5 months ago

That’s fantastic news! I absolutely love hearing about initiatives that support and empower women-owned businesses in Nigeria. With 40 percent of businesses being led by women, this is a significant contribution to the economy and a step towards gender equality. By boosting these businesses, the FG is not only creating more opportunities for women entrepreneurs but also driving economic growth and job creation. This investment can have a ripple effect, as successful women-owned businesses often reinvest in their communities, mentor aspiring entrepreneurs, and inspire others to follow their dreams. It’s inspiring to see the FG recognizing the potential and talent of women in business and taking proactive steps to support their success. I hope this initiative continues to flourish and serves as a model for other countries to follow. Cheers to the incredible women entrepreneurs of Nigeria! 🎉👩‍💼💪

Kazeem1
Kazeem1
5 months ago

It’s wonderful to see that the Nigerian government values and encourages women-run companies. Given that women own and run 40% of businesses in Nigeria, it’s critical to give them the tools and chances they need to succeed.

Taiwoo
Taiwoo
5 months ago

Women should continue starting businesses because fostering these businesses demonstrates how the support provided to them makes them reliant on themselves. Encourage and support women-owned businesses in Nigeria. 40% of businesses are run by women, which contributes significantly to the economy and advances equal treatment for men and women.