FG allocates 50% intervention initiative to boost women businesses

The Director-General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Mr Olawale Fasanya, has reiterated Federal Government’s desire to boost women owned businesses in the country.

Fasanya said this at the opening of “Meet With the CEO” in collaboration with International Labour Organisation (ILO), in Abuja on Wednesday.

The director-general said in order to ensure this, SMEDAN had established a gender desk and had reserved 50 per cent of its intervention programmes for women.

Fasanya said that the objective of the event was to broaden and deepen the capacity of the MSME operators on regulatory issues.

He said it would enable the agency initiate need-based programmes that would enhance MSMEs competitiveness in the global market.

He quoted the National Bureau of Statistics (NBS) saying that 40 per cent of businesses in the country were female-led and that they contributed significantly to economic growth and job creation in the country.

“These businesses led by visionary women entrepreneurs are emerging as pivotal drivers of Nigeria’s economic resurgence.

“And they are contributing significantly to the nation’s development across divers sectors,” he added.

According to Fasanya, female-led businesses has continued to show resilience and high level optimism in spite of the COVID-19 pandemic, climate change and economic downturn.

He said: “Considering the impacts, female-led businesses continue to make progress in spite the challenges they face.

“The government and ecosystem players takes a more intentional approach to supporting the demographic segment for greater impact.

“Female-led businesses produces ripple benefits that triggers employment generation, poverty reduction and wealth creation.”

The director-general, therefore urged the participants to interact with each other and with government officials, ask questions and network on ways to forge ahead.

He commended the ILO, their Co-host, for the unwavering support towards the promotion of equal human right, social justice and sustainable development.

Meanwhile, Founder, Celina Unogwu Visioning Academy (CUVA), Celina Unogwu, reiterated the importance of having a balanced work life as a woman entrepreneur.

According to Unogwu, work life balance refers to the intersection of work and personal life, when there is equilibrium or balance between a personal life and a professional life.

While stating the importance for entrepreneurs to be focused at their goal, she urged the participants to work hard and believe in their dream.

She said: “Work hard, keep dreaming and bring it to life”.

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