The Federal Ministry of Women Affairs and Social Development and the Federal Ministry of Industry, Trade and Investment have signed a Memorandum of Understanding (MoU) to provide expert support aimed at improving access to finance for export-ready women entrepreneurs under the African Continental Free Trade Area (AfCFTA).
The agreement was signed during a colloquium on ‘Women’s Role in Industry, Trade and Investment’ themed “Positioning Nigeria to Lead Intra-African Trade” convened by the Federal Ministry of Industry, Trade and Investment in Abuja the nation’s Capital.
Speaking at the event on Friday, the Minister of Women Affairs and Social Development Hajiya Imaan Sulaiman-Ibrahim said the AfCFTA framework presents a major economic opportunity for Nigeria and the continent.
“The African Continental Free Trade Area; the AfCFTA is no longer a promise. It is an architecture under construction. It is a market of 1.4 billion people, a combined GDP of over three trillion US dollars, and an intra-African trade potential that economists project could reach 35 percent of total African trade by 2040, up from barely 16 percent today,” she stated.
She noted that Nigeria’s ability to lead continental trade would depend on the inclusion of women in formal economic systems.
“However, Nigeria cannot truly lead intra-African trade if half of its economic engine remains under-utilized,” the Minister affirmed.
Read Also: President Tinubu’s Reforms Lays Foundation for Capital Flow – Minister
UN Women Urges Stronger Action to Close Gender Gaps
Nigeria Positions Women Entrepreneurs For AfCFTA Trade Expansion
Highlighting the role of women in the national economy, she emphasised the disparity between their economic contribution and access to resources.
“Women account for approximately 70 percent of Nigeria’s agricultural labour force, yet they own less than 14 percent of agricultural land, access less than 10 percent of formal agricultural credit, and constitute a fraction of those registered in formal agricultural export schemes. They do the work. They bear the risk. But the system was not designed to reward them.”
She further stressed that empowering women economically would deliver broader development gains.
“Supporting women’s participation in trade is not simply a matter of social equity; it is a strategic economic imperative,” she said.
The Minister explained that the new MoU between both ministries is designed to strengthen women’s participation in continental trade by addressing financial and structural barriers.
“The Federal Ministry of Women Affairs and Social Development and the Federal Ministry of Industry, Trade and Investment are signing a Memorandum of Understanding on the Provision of Expert Support to Enhance Access to Finance for Export-Ready Women Entrepreneurs under the AfCFTA,” she said.
“Through this MOU, our two Ministries commit to jointly developing programmes that operationalise Nigeria’s obligations under the AfCFTA Protocol on Women and Youth in Trade; to collaborating with Development Finance Institutions to open financial access for women entrepreneurs; to building a credible national database of women-owned and women-led enterprises; and to delivering capacity-building in export readiness, digital trade, and regulatory compliance.”
She added that the partnership represents a concrete policy step rather than a symbolic initiative.
“This MOU is not a ceremonial gesture. It is a structured, accountable commitment.”
The Minister also reiterated the administration’s commitment to inclusive economic growth under the leadership of Bola Ahmed Tinubu.
“As His Excellency, President Bola Ahmed Tinubu, GCFR, has consistently emphasised under the Renewed Hope Agenda, Nigeria’s economic transformation must be inclusive, ensuring that women who form a vital pillar of our productive economy are fully integrated into national and continental trade systems,” she said.
She concluded by commending Minister Jumoke Oduwole for organising the colloquium and sustaining dialogue around inclusive trade policy.
“The choice to honour women’s role in industry, trade and investment is not a soft gesture. It is a hard economic statement. And you have always been someone who understands the difference.”
Looking ahead, the strengthened collaboration between the Federal Ministry of Women Affairs and the Federal Ministry of Industry, Trade and Investment is expected to position Nigerian women as stronger contributors to national productivity, export growth and enterprise development.
With expanded access to finance, markets and capacity-building opportunities under the African Continental Free Trade Area framework, women entrepreneurs are projected to play an increasingly significant role in boosting Nigeria’s trade performance and supporting broader economic expansion.
Stakeholders say empowering women across agriculture, manufacturing and services could significantly strengthen Nigeria’s productive base and contribute meaningfully to the country’s future GDP growth.