Director-General of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala, has sounded the alarm that Nigeria risks missing out on the multi-trillion-dollar global digital trade boom because more than half of its population remains offline.
Speaking Thursday at the launch of the Women Exporters in the Digital Economy (WEIDE) Fund in Abuja, Okonjo-Iweala revealed that only 45% of Nigerians have internet access, far below the global average of 67%.
“No nation can truly digitise without steady electricity and reliable, affordable internet. More than half of Nigerians remain disconnected, and this gap must be closed if we are to seize the opportunities of digital trade,” she warned.
Nigeria Among Four Nations Chosen for Global Women’s Digital Trade Fund
Nigeria is one of only four countries selected for the WEIDE Fund’s 2024 rollout — alongside Jordan, Mongolia, and the Dominican Republic — following a competitive global selection process.
The programme will be implemented locally by the Nigerian Export Promotion Council (NEPC) under Executive Director Nonye Ayeni.
Demand for the fund was overwhelming: 67,000 Nigerian women entrepreneurs applied. The high calibre of entries led to an increase in beneficiaries from 100 to 146 awardees:
- 16 entrepreneurs in the Booster Track will each receive up to US$30,000 and 18 months of technical assistance.
- 130 entrepreneurs in the Discovery Track will each get up to US$5,000 and 12 months of business support.
Awardees span agriculture, IT, fashion, hospitality, beauty, and manufacturing.
Digital Trade: A $4.25 Trillion Market, Africa Holds Less Than 1%
Okonjo-Iweala highlighted the urgency: global digital trade is valued at US$4.25 trillion and is the fastest-growing segment of world commerce. Yet, Africa’s share remains under 1%, leaving enormous untapped potential.
She called for inter-ministerial action among the Ministries of Communications, Industry, and Power to bridge Nigeria’s connectivity gap, upgrade infrastructure, and empower women-led businesses to compete globally.
“When women trade internationally, they earn almost three times more than those who sell locally. The WEIDE Fund is about giving Nigerian women the tools, skills, and market access to multiply those gains,” she said.
Government and Industry Back the Push
Minister of Communications, Innovation, and Digital Economy Dr. Bosun Tijani pledged government backing for the initiative, praising the ability of women entrepreneurs to link products with real-world solutions.
“Empathy is women’s superpower in business, and it is this empathy that creates solutions with lasting impact,” Tijani said.
President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dr. Dele Oye, lauded the programme for positioning Nigeria in the digital trade ecosystem and advancing the country’s ambition to build a $1 trillion economy.
