Nimbus Aid Project, a social impact initiative driven by Nimbus Media Ltd, has awarded N40 million in advertising support to 20 women-led businesses.
Wale Adegoke, the CEO of Nimbus Media Ltd, highlighted the hurdles businesses face in today’s ever-changing world at a prize-giving ceremony held on Saturday in Lagos, according to a statement.
The Nimbus Aid Project’s convener emphasised the importance of supporting women-led businesses, describing them as the backbone of the nation.
He said: “Their unwavering commitment and sheer determination have allowed them to rise above the most trying circumstances. But they deserve more than just praise for their resilience; they deserve our collective support.
“As a community, Nigerians must ensure that these businesses not only survive but thrive, and the Nimbus Aid Project exemplifies our shared commitment to this responsibility. It is a testament to what we can achieve when we come together to uplift and empower one another.”
Uche Uzoebo, chief stakeholder engagement officer of SANEF Nigeria, in her keynote address, spoke about the connection between building sustainable and inclusive business ecosystems and societal impact.
She explained how the business landscape can catalyse positive change, emphasising the broader implications of fostering an environment that supports women-led businesses.
Bunmi-Kole Dawodu, Lagos State manager of the Small and Medium Enterprise Development Agency of Nigeria, quoted a McKinsey report as saying that if women participated in the economy at the same rate as men, the global GDP could increase by up to 26 percent.
“To support and further advance women-led businesses, public policies should aim to create gender-sensitive policies and programs, ensure access to finance, resources, and networks, foster a supportive business environment that encourages entrepreneurship, and empower women entrepreneurs through training, education, and mentorship,” he added.