NEPC Facilitates WEIDE Fund Grant Worth About ₦1b

The Nigerian Export Promotion Council (NEPC) has successful facilitated the disbursement of grants to 128 women-owned export-oriented Micro, Small and Medium Enterprises (MSMEs) under the Women Exporters in the Digital Economy (WEIDE) Fund, a landmark initiative designed to empower women entrepreneurs to leverage digital technologies and expand into international markets.

The Executive Director/CEO, Mrs Nonye Ayeni made this known during a town hall meeting with exporters held in Lagos.

According to her, 121 Nigerian women-owned businesses have received Discovery Grants valued at US$5,000 each, while seven (7) businesses have been awarded Booster Grants valued at US$15,000 each, bringing the total funding disbursed to US$710,000, equivalent to ₦979,800,000 (Nine Hundred and Seventy-Nine Million, Eight Hundred Thousand Naira),

The WEIDE Fund is a joint initiative of the International Trade Centre (ITC) and the World Trade Organization (WTO), with financial support from the United Arab Emirates (UAE), FIFA World Cup Qatar 2022 Legacy Fund, and the Kingdom of Bahrain.

The initiative seeks to enhance the competitiveness of women-led businesses by providing access to finance, business development support, digital skills and international market opportunities.

The $50 million global fund aims to bridge the digital financing gap and help women-led MSMEs scale their businesses through digital trade.

The Executive Director/CEO stated that the implementation of trade facilitation reforms and game changing projects in line with the Renewed Hope Agenda of the current Administration made the Council to stand out among 600 Business Support Organizations that applied to serve as the Business Support Organisation (BSO) for the WEIDE Fund from the African continent.

This selection formed part of a broader pilot in which Nigeria was chosen as one of only four beneficiary countries globally, alongside the Dominican Republic, Jordan and Mongolia, in recognition of its vibrant entrepreneurial ecosystem, strong export potential and commitment to advancing women’s participation in international trade.

Mrs Ayeni reiterated that the scale of interest in the WEIDE Fund underscores the immense potential of Nigeria’s female entrepreneurs.

The WEIDE Secretariat, Geneva, received an overwhelming 67,000 applications from Nigerian women-owned export businesses, facilitated by NEPC, and spanning diverse sectors of the economy.

The overwhelming response, which is the highest amongst the 4 beneficiary countries, is a clear testament to the immense potential of Nigerian women entrepreneurs and their readiness to take on global markets.

Following a rigorous, multi-stage vetting process that prioritized transparency and merit, 146 enterprises emerged as the final beneficiaries of the grant scheme.

The successful applicants represent a broad cross-section of Nigeria’s non-oil export sector, including agro-processing, food and beverages, textiles and fashion, cosmetics, manufacturing, creative industries, and other value-added export categories reflecting the rich diversity and depth of the nation’s export ecosystem.

The selected enterprises are divided into two tracks:

Discovery Track (124 SMEs): Each receiving US$5,000 in grants to support their initial entry into digital exports and
Booster Track (17 SMEs): Each receiving US$30,000 in grants to scale existing export operations.

Mathew Ayoola, Edited By Grace Namiji