NEPC empowers 128 grants worth over ₦979m grant
The Nigerian Export Promotion Council (NEPC) has facilitated the disbursement of grants to 128 women-owned export-oriented Micro, Small and Medium Enterprises (MSMEs) under the Women Exporters in the Digital Economy (WEIDE) Fund worth ₦979,800,000.
The initiative designed to empower women entrepreneurs to leverage digital technologies and expand into international markets.
The Executive Director/CEO, Mrs Nonye Ayeni in a statement issued on Thursday by the Deputy Director & Head, Corporate Communication Aliu Sadiq, said 121 Nigerian women-owned businesses had received Discovery Grants valued at $5,000 each.
She said further explained that while seven (7) businesses was awarded Booster Grants valued at $15,000 each, bringing the total funding disbursed to $710,000, equivalent to ₦979,800,000.
She said the WEIDE Fund is a joint initiative of the International Trade Centre (ITC) and the World Trade Organization (WTO), with financial support from the United Arab Emirates (UAE), FIFA World Cup Qatar 2022 Legacy Fund, and the Kingdom of Bahrain.
She stated that the implementation of trade facilitation reforms and game changing projects in line with the Renewed Hope Agenda of current Administration made the Council to stand out among 600 Business Support Organizations that applied to serve as the Business Support Organisation (BSO) for the WEIDE Fund from the African continent.
“This selection formed part of a broader pilot in which Nigeria was chosen as one of only four beneficiary countries globally, alongside the Dominican Republic, Jordan and Mongolia, in recognition of its vibrant entrepreneurial ecosystem, strong export potential and commitment to advancing women’s participation in international trade.
Mrs Ayeni reiterated that the scale of interest in the WEIDE Fund underscores the immense potential of Nigeria’s female entrepreneurs.
“The WEIDE Secrrtatiat, Geneva, received an overwhelming 67,000 applications from Nigerian women-owned export businesses, facilitated by NEPC, and spanning diverse sectors of the economy.
“The overwhelming response, which is the highest amongst the 4 beneficiary countries, is a clear testament to the immense potential of Nigerian women entrepreneurs and their readiness to take on global markets.
“Following a rigorous, multi-stage vetting process that prioritized transparency and merit, 146 enterprises emerged as the final beneficiaries of the grant scheme.
“The successful applicants represent a broad cross-section of Nigeria’s non-oil export sector, including agro-processing, food and beverages, textiles and fashion, cosmetics, manufacturing, creative industries.
“Others are value-added export categories reflecting the rich diversity and depth of the nation’s export ecosystem,” she said.
She said the selected enterprises are divided into two tracks: Discovery Track (124 SMEs): Each receiving $5,000 in grants to support their initial entry into digital exports.
Others are; Booster Track (17 SMEs): Each receiving $30,000 in grants to scale existing export operations.
