Minister Jumoke Oduwole: Capital for Women Is Capital for the Nation
ABUJA, Nigeria — Nigeria’s plan to build a $1 trillion economy by 2030 now carries a sharp new focus. The plan aims to close the financing gap for women-led firms. This will help them scale into regional and continental markets.
The Ministry of Industry, Trade and Investment used a high-level policy dialogue in Abuja on International Women’s Day. They argued that targeted capital for female entrepreneurs is not charity. It is a sound industrial strategy.
At the “Give to Gain” dialogue, the minister said that improved access to capital for women-led enterprises is “a critical pathway.” It unlocks Nigeria’s industrial growth. It also maximises opportunities under the African Continental Free Trade Area.”
Her remarks rest on hard numbers. Across Africa, female-founded firms face an estimated financing shortfall of roughly $49 billion. The ministry says this constraint will limit Nigeria’s ability to convert AfCFTA market access into industrial expansion and job creation.
A Strategy, Not a Slogan
The federal target of a $1tn economy by 2030 has moved from slogan to policy axis in recent months. The Presidency and the ministry have created a roadmap. This roadmap ties industrial deepening and export expansion to that target. It also ties inclusion to that target.
The minister argued that leaving half the country’s entrepreneurial talent undercapitalised makes the target unattainable.
Her message was blunt and specific.
“This conversation is therefore fundamentally about capital, how it is structured, how it is allocated and how it reaches the businesses that can grow and create jobs,” she said.
The minister underscored that women are already central to agriculture, trade, services, manufacturing and logistics.
The problem, she insisted, is not participation but capital — both its size and the way it is deployed.
Why Women-Led Firms Matter for AfCFTA
Nigeria’s push is inseparable from AfCFTA. The continental agreement links over 1.4 billion people and a multi-trillion dollar market. This, in aggregate, presents new and immediate export opportunities for firms capable of scaling across borders.
Only a few African businesses have reached global scale. Recent industry analyses place the number of firms with more than $1 billion in annual revenue at about 345. Just a couple of dozen of those are headquartered in Nigeria.
That concentration of scale explains why targeted financing to smaller but fast-growing women-led firms could change the map of competitiveness.
To operationalise inclusion, the AU adopted the Protocol on Women and Youth in Trade. This protocol is a deliberate instrument inside AfCFTA. Its purpose is to improve market access, reduce regulatory barriers, and create financing pathways for women and young entrepreneurs.
The minister said Nigeria is already moving to domesticate and implement the protocol. The ministry will design programmes to prepare women-owned enterprises to become “investment ready.”
The Numbers and the Logic
The $49bn figure cited at the dialogue is not rhetorical. Multiple sector studies over recent years highlight a persistent gender gap in finance across Africa. Female founders and women-owned SMEs receive a small fraction of venture and growth capital. This is often less than 10 per cent of deal value.
The consequence is predictable — fewer scale-ups, thinner value chains and missed job creation.
The ministry’s case is that relatively modest capital injections could unlock far larger private investment flows. Carefully structured public-private instruments could also increase export revenues.
From a policy perspective, the ministry outlined three practical levers.
First, instruments that de-risk lending to women — blended finance, credit guarantees and subordinated public capital.
Second, upstream capacity building so firms meet investor due diligence and export standards.
Third, market access programmes that link women-led firms to regional value chains under AfCFTA.
If deployed together, the ministry argues, these measures can multiply the impact of every naira or dollar invested.
What Will Make This Real
Experts and investors at the dialogue stressed that good intentions require credible execution. That means measurable targets for capital deployed to women-owned firms, transparent reporting, and clear indicators of cross-border market penetration.
It also requires coordination. The minister acknowledged that the Minister of Women Affairs had asked for stronger institutional collaboration. The trade ministry has responded with a pledge to design a programme focused on preparing businesses for capital access.
Private sector voices at the event urged faster reforms to reduce the cost of doing business. They advocated for expanding digital finance solutions. These solutions should reach informal cross-border traders — many of them women.
The AfCFTA Protocol on Digital Trade is another tool, the minister noted. It can make transactions cheaper. It also makes compliance easier for small exporters.
The Bottom Line
The minister’s argument is economic and strategic. If Nigeria is serious about a $1tn economy it must mobilise capital in ways that deliberately include women. That is not only fair; it is efficient.
Unlocking the finance that enables more women-led firms to scale will broaden the base of national competitiveness. It will deepen regional value chains. This will help turn AfCFTA’s promise into jobs and export incomes for millions.
Follow us on our broadcast channels today!
- WhatsApp: https://whatsapp.com/channel/0029VawZ8TbDDmFT1a1Syg46
- Telegram: https://t.me/atlanticpostchannel
- Facebook: https://www.messenger.com/channel/atlanticpostng
