• Many women still lack access to information, capital, and markets — Aisha Babangida
• FG pledges reforms to boost women-owned businesses and inclusive growth
The Presidency has commended Nigerian women and Small and Medium Enterprises (SMEs) for their immense contributions to national development, describing them as the “lifeblood” of the country’s economy.
Speaking at the 5th Women Enterprise Alliance (WenA) Conference held in Abuja, the Senior Special Assistant to the President on Entrepreneurship Development and Innovation in the Digital Economy, Ms. Chayla Shagaya, reaffirmed the Federal Government’s commitment to strengthening the ecosystem for women entrepreneurs through reforms aimed at reducing the cost of doing business, improving access to finance, and advancing gender-responsive policies for inclusive growth.
The conference, themed “Policy Reforms and Resilience Strategies for Small and Medium Enterprises in a New Economy,” brought together policymakers, financiers, development partners, and business leaders from across Nigeria.
“Women: The Quiet Economists of Every Household”
Ms. Shagaya noted that under President Bola Tinubu’s Renewed Hope Agenda, women-led SMEs remain a central pillar of Nigeria’s economic resilience.
“Across Nigeria, women entrepreneurs are doing the hard work of keeping our economy alive, innovating, employing, and solving local problems with global relevance. About 70 percent of submissions received on SME policy reforms came from women,” she stated.
She highlighted key reforms, including the Presidential Power Initiative, digital financing pathways, and tax harmonisation frameworks designed to lower operational costs for SMEs, most of which are women-led.
Ms. Shagaya also disclosed ongoing partnerships between the Bank of Industry and other financial institutions to improve access to affordable credit for female entrepreneurs, noting that women often face challenges related to collateral.
“You no longer need to bring your grandmother’s land title to secure a loan,” she quipped, eliciting laughter from participants.
According to her, a recent digital feedback exercise conducted by her office received over 100,000 submissions, more than 70 percent from women business owners.
“This is no longer a time for policy on paper. It’s time for policy that reaches people where they are especially the women at the heart of our enterprise sector,” she said.
Aisha Babangida: “From Policy Talk to Practical Tools”
Founder of the Women Enterprise Alliance, Aisha Babangida, said the conference aims to accelerate the translation of national and global policy commitments into measurable outcomes for women-led businesses.
She lamented that many women still lack access to information, finance, and markets and continue to struggle under complex regulatory requirements.
“When I founded WenA, I thought passion was enough. But it wasn’t. The paperwork, the tax codes, the licensing rules, they were heavy, even for those of us with networks. Imagine what it’s like for a woman starting a micro-business in a rural town with little support,” she said.
Babangida commended UN Women Nigeria for its Affirmative Action Procurement Reform in Kaduna State, which introduced female representation on procurement boards, waived registration fees, and reserved a portion of public contracts for women-led enterprises.
“Inclusive procurement is not a concession to women; it is an economic strategy,” she emphasized.
She announced that WenA will soon launch a National Certification Programme to help women entrepreneurs qualify for public contracts through enhanced documentation, compliance, and capacity-building.
“Our goal is to move from policy talk to practical tools from exclusion to empowerment,” Babangida added.
UN Women, AfDB Call for Care-Responsive Policies
During a pre-conference workshop, Ms. Aisha Bendo-Alkali of UN Women Nigeria called for stronger policies to address unpaid care work, which continues to limit women’s participation in the economy.
Supported by the African Development Bank (AfDB) and the Women Entrepreneurs Finance Initiative (We-Fi), the initiative advocates for integrating care-responsive measures and women’s economic empowerment into national development planning.
“Reducing the burden of unpaid care is not just about gender equality, it is key to unlocking national productivity,” she said.
FIRS Announces ₦100 Million Tax Exemption Threshold for SMEs
In his goodwill message, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced new fiscal reforms to support small businesses, especially those owned by women.
Effective January 2026, businesses earning not more than ₦100 million in annual turnover will be exempted from corporate income tax.
“Taxation should support the growth and formalisation of small businesses not stifle them,” he said.
He also revealed the rollout of a Unified Tax Identification Number (UTIN) integrated across the Corporate Affairs Commission (CAC) and other agencies, along with a fully digital tax filing system to simplify compliance.
Building a Resilient and Inclusive Economy
The 5th WenA Conference attracted senior government officials, private sector leaders, and development agencies all reaffirming the critical role of women in driving inclusive growth and job creation.
In her closing remarks, Aisha Babangida stressed that reforms must produce tangible impact:
“Real reform is when a woman in Kaduna, Aba, or Makurdi feels the change in her daily hustle when she can register her business in minutes, access credit without fear, and compete fairly for public contracts,” she said.
The event, supported by FIRS, FCMB, and UN Women, ended with a collective pledge to advance a gender-inclusive economic framework that leaves no woman behind.
“Empowering women entrepreneurs is not charity,” Ms. Shagaya concluded. “It is a national strategy and the key to building a resilient and inclusive Nigerian economy.”