World Trade Organization (WTO) Director-General, Dr. Ngozi Okonjo-Iweala, has raised concerns that Nigeria’s weak internet penetration could lock the country out of the booming $4.25 trillion global digital trade market.
At the launch of the Women Exporters in the Digital Economy (WEIDE) Fund in Abuja on Thursday, Okonjo-Iweala disclosed that just 45% of Nigerians are connected to the internet, far below the global average of 67%.
“A steady supply of electricity and affordable, reliable internet are non-negotiable if we want to digitise our economy,” she said. “We must close this gap to unlock the benefits of digital trade.”
Nigeria is among four countries — along with Jordan, Mongolia, and the Dominican Republic — chosen for the WEIDE Fund’s 2024 rollout after a rigorous selection process. The Nigerian Export Promotion Council (NEPC), led by Executive Director Nonye Ayeni, will drive the local implementation.
The initiative drew over 67,000 applications from Nigerian women entrepreneurs, prompting organisers to expand the original 100 slots to 146. Under its Booster Track, 16 participants will each receive up to $30,000 and 18 months of technical support, while the Discovery Track will offer 130 women up to $5,000 each plus one year of business assistance.
Beneficiaries come from diverse sectors such as agriculture, information technology, fashion, hospitality, beauty, and manufacturing.
Okonjo-Iweala lamented that Africa’s share of global digital trade remains under 1%, urging the Ministries of Communications, Industry, and Power to work in sync to improve connectivity, modernise infrastructure, and scale women-led businesses.
“When women export, their earnings can be nearly triple those who sell only locally,” she said. “WEIDE gives Nigerian women the capacity, skills, and networks to achieve that.”
Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, pledged government support, describing empathy as women’s “superpower” for building impactful ventures.
President of the Nigerian Association of Chambers of Commerce, Industry, Mines, and Agriculture (NACCIMA), Dr. Dele Oye, commended the scheme for advancing Nigeria’s digital economy ambitions and its quest to build a $1 trillion economy.
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