The Director-General of the World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has unveiled a $50 million global fund to empower women entrepreneurs in digital trade, cautioning that global commerce is navigating “extremely challenging times” due to rising unilateralism and protectionism.
The initiative, known as the Women Exporters in the Digital Economy (WEIDE) Fund, is a joint project of the WTO and the International Trade Centre (ITC).
It aims to equip women-led businesses in developing countries with the skills, resources, and networks needed to compete in global value chains.
Speaking in Abuja on Thursday, Okonjo-Iweala warned that Nigeria’s low internet penetration could hinder the country’s ability to tap into the rapidly expanding global digital trade market.
She noted that only 45% of Nigerians are connected to the internet, well below the global average of 67%.
“No nation can truly digitise without a steady supply of electricity and reliable, affordable internet,” she said.
“More than half of Nigerians remain disconnected, and this gap must be closed if we are to seize the opportunities of digital trade.”
Describing the programme as more than just a funding scheme, she declared:
“This is more than a programme. This is going to be a movement.
We want women entrepreneurs not just surviving, but thriving on the world stage.”
The WTO chief highlighted that total global trade currently stands at $30.4 trillion, with digital trade representing the fastest-growing segment.
However, Africa’s share remains below one percent.
“In 2005, digitally delivered services like IT, consulting, and education were worth about $1 trillion.
Today, that figure has quadrupled to $4.25 trillion,” she noted. “It is an area where Nigeria’s women can and must take advantage.”
This year, the WEIDE Fund is being piloted in just four countries Jordan, Mongolia, the Dominican Republic, and Nigeria.
Okonjo-Iweala revealed that Nigeria’s selection followed a highly competitive process involving over 600 business support organisations worldwide.
“The Nigerian Export Promotion Council, under Mrs. Nonye Ayeni, stood out with a strong, well-thought-out application,” she said. “This was not man-no-man or woman-no-woman.
Nigerians don’t need a Nigerian at the WTO to win, they win on their merit.”
Over 67,000 Nigerian women applied for the first cohort.
While the original plan was to support 100 businesses, the quality of applications led to 146 beneficiaries being selected.
Sixteen entrepreneurs in the Booster Track will each receive up to $30,000 and 18 months of technical assistance, while 130 entrepreneurs in the Discovery Track will each get up to $5,000 and a year of business support.
Beneficiaries operate in diverse sectors including agriculture, IT, fashion, hospitality, beauty, and manufacturing.
“These women come from all over Nigeria, from fashion and textiles to IT, tourism, agri-processing, beauty, and home goods,” Okonjo-Iweala said. “They are the heartbeat of Nigeria’s entrepreneurial energy.”
While commending the government’s $2 billion fibre optic project aimed at connecting rural and secondary cities, she emphasised that digital trade cannot thrive without reliable electricity.
She called for inter-ministerial collaboration between the ministries of power, communications, women’s affairs, and trade to sustain and expand the initiative.
Okonjo-Iweala also lamented women’s underrepresentation in Nigeria’s ICT sector, which contributed 18% to GDP in 2022, up from less than 4% in 2001.
“A study found that only 30% of Nigerian tech firms are owned by women,” she said. “We rank 128th out of 148 countries in the Global Gender Gap Report.
We can and must do better.”
She urged policymakers to view women’s empowerment as “smart economics” rather than charity, warning against imposing customs duties on cross-border digital trade.
“If countries start taxing digital trade, micro and small businesses, especially those run by women, will lose one of their best pathways into global markets,” she warned.
Addressing the awardees, she said:
“You earned this through hard work and vision. Use this moment to dream bigger, scale higher, and go further.
When I return in two years, I want to see how many more people you have hired, how many new markets you have reached, and how many women you have inspired.”
She concluded:
“When women succeed, communities succeed, economies succeed.
This is not just a moral case, it is an economic case. Let’s make it happen.”
