By Prosper Mene
Dr. Ngozi Okonjo-Iweala, Director-General of the World Trade Organization (WTO), has raised alarm over Nigeria’s low internet penetration, with over half of the population still offline, threatening the nation’s ability to capitalize on the $4.25 trillion global digital trade market.
Speaking at the launch of the Women Exporters in the Digital Economy (WEIDE) Fund in Abuja on Thursday, Okonjo-Iweala highlighted that only 45% of Nigerians have internet access, significantly trailing the global average of 67%. “No nation can truly digitize without a steady supply of electricity and reliable, affordable internet,” she stated. “This gap must be closed if we are to seize the opportunities of digital trade.”
The WEIDE Fund, a joint initiative by the WTO, International Trade Centre (ITC), and Nigerian Export Promotion Council (NEPC), aims to empower women entrepreneurs in digital commerce.
Nigeria was selected as one of four countries for the 2024 rollout, alongside Jordan, Mongolia, and the Dominican Republic. Over 67,000 Nigerian women applied, with 146 selected as beneficiaries due to the high quality of applications. Sixteen women in the “Booster Track” will receive up to $30,000 and 18 months of technical support, while 130 in the “Discovery Track” will get up to $5,000 and a year of business assistance, spanning sectors like agriculture, IT, fashion, hospitality, beauty, and manufacturing.
Okonjo-Iweala emphasized that Africa’s share of global digital trade remains below 1%, urging Nigeria’s Ministries of Communications, Industry, and Power to collaborate on improving connectivity and infrastructure. “When women trade internationally, they earn almost three times more than those who sell locally,” she noted, highlighting the WEIDE Fund’s role in providing tools, skills, and market access.
Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, pledged government support, praising women’s “empathy” as a business strength. Dr. Dele Oye, President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), lauded the program as a step toward Nigeria’s $1 trillion economy goal.
The launch coincided with Okonjo-Iweala’s visit to President Bola Tinubu, where she commended his economic stabilization efforts but urged stronger social safety nets to cushion the impact of reforms like petrol subsidy removal and foreign exchange unification, which have driven inflation and hardship.
