50m Dollars Global Fund Lands in Nigeria: Okonjo-Iweala Backs Women Entrepreneurs in Digital Trade

Ngozi Okonjo-Iweala, the head of the World Trade Organization, has announced a $50 million global fund to support women entrepreneurs in digital trade. The Women Exporters in the Digital Economy (WEIDE) Fund aims to equip businesswomen in developing countries with the skills and resources needed to compete in the global value chain.

Nigeria is among the four countries selected for the fund's 2025 rollout. The initiative received strong support from the Nigerian Export Promotion Council, with 146 businesses selected for assistance.

Despite Nigeria's booming ICT sector, challenges such as low internet access and unreliable electricity were highlighted as obstacles to digital trade growth. Okonjo-Iweala urged awardees to dream bigger and emphasized the importance of collaboration between government ministries to sustain and scale the initiative.

She also warned against imposing customs duties on digital trade, as it could harm small exporters. The article also mentions the Nigerian government's $2 billion fiber optic project and efforts to empower entrepreneurs through technology and skills.