The United States Embassy and Consulate in Nigeria has eulogized female entrepreneurs in Nigeria for creating both big and small enterprises that have created a big global economic value for the country.
Will Stevens, Consul General, United States Embassy and Consulate in Nigeria, who spoke at the 2024 Women Enterprise Day organized by the Enterprise Development Centre of Pan-Atlantic University, Lagos said that he is inspired to meet these women who have contributed positively to the economy of Nigeria.
The Women Enterprise Day 2024 was held at the Providus Bank head office on Victoria Island, Lagos.
Stevens said “With programs like this, we will support and train young women entrepreneurs to help grow and scale their businesses and get them grants through the United States African Development Foundation as well as access to finance provided by the Nigerian banks.”
“We will continue to provide support for the small and medium enterprises particularly women owned startups and help them grow in scale and reach their customers,” he added.
Speaking further, the US envoy stated that “We know that when women participate in the economy they bring the money home and that is what we are seeing today with the Alumni Association of Academy Women entrepreneurs investing in the next generation of female leaders in Nigeria, something we are proud to support as a UN nation.”
According to him, “We have been focused on growing the US trade and investment in Nigeria and it seems to be working in the last year. US trade has grown from $10billion to bilateral trade very balanced trade relationships to $11.3 billion dollars between the United States and Nigeria. We have also seen a 7 percent increase in US foreign direct investment to Nigeria.”
“Our companies are coming into this market where trade numbers are growing and we think that is a direct result of the incredible talent here and incredible opportunities in Nigerian market and the US market and it is something that we really want to focus on and we know that the charges are going to be led by Nigerian women,” Stevens added.
Also speaking at the event, Managing Director/Chief Executive Officer of Providus Bank, Walter Akpani expressed his gratitude to the American embassy especially to the US consul general and MTN Foundation and other partners for the support they have given not just women entrepreneurs but supporting Nigeria in general and other businesses.
He said, “As a bank, we know what our experience has been dealing with women in businesses. Providus Bank had given a female startup owner N20 million for a business in less than 2 years and she has been able to turn it around and her business income has grown to over N1.2 billion”.
President of Academy for Women Entrepreneurs Alumni Association of Nigeria, Adebisi Odeleye lauded the impact of the female startups in the Nigerian economy and urged the relevant stakeholders to give their support to this category of entrepreneurs in Nigeria.
Director, Enterprise Development Center (EDC)- Pan-Atlantic University, Nneka Okekearu said, “Female entrepreneurship in Nigeria has a significant impact on the economy, contributing to job creation, wealth generation, and poverty eradication. Women entrepreneurs contribute to 41% of ownership of Small and Medium-sized Enterprises (SMEs), which account for 48% of Nigeria’s GDP,” she added.
For job creation, she said “Women-led businesses are a major source of job creation in Nigeria. Women entrepreneurs help to reduce poverty through their businesses, women entrepreneurs are empowering other women to take charge of the economy and influence key economic pillars and women entrepreneurs are reshaping industries and fostering innovation”.
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