The Federal Government has reaffirmed its commitment to implementing far-reaching reforms that will strengthen women-owned businesses and promote inclusive economic growth across Nigeria.
Speaking at the 5th Women Enterprise Alliance (WenA) Conference in Abuja, the Senior Special Assistant to the President on Entrepreneurship Development and Innovation in the Digital Economy, Ms. Chayla Shagaya, described women entrepreneurs and Small and Medium Enterprises (SMEs) as “the lifeblood of Nigeria’s economy.”
Themed “Policy Reforms and Resilience Strategies for Small and Medium Enterprises in a New Economy,” the conference brought together policymakers, development partners, financiers, and entrepreneurs to discuss actionable strategies for supporting women-led enterprises.
Ms. Shagaya said the Tinubu administration, under the Renewed Hope Agenda, is committed to lowering the cost of doing business, improving access to finance, and enacting gender-responsive policies that empower women.
“Across Nigeria, women entrepreneurs are doing the hard work of keeping our economy alive — innovating, employing, and solving local problems with global relevance,” she said, revealing that about 70% of public submissions on SME policy reforms came from women.
She highlighted ongoing federal reforms, including the Presidential Power Initiative, digital financing pathways, and tax harmonisation frameworks, all aimed at making it easier for SMEs — particularly those led by women — to thrive.
The presidential aide also announced new partnerships between the Bank of Industry and financial institutions to expand affordable credit access for women, noting humorously that, “You no longer need to bring your grandmother’s land title to secure a loan.”
Founder of WenA, Aisha Babangida, described the annual conference as a platform for translating policy commitments into measurable impact for women-led enterprises. She stressed the need for continued advocacy to address barriers such as limited access to capital, information, and markets.
“When I founded WenA, I thought passion was enough. But it wasn’t. The paperwork, the tax codes, the licensing rules — these were heavy even for those of us with networks,” Babangida said, announcing that WenA will soon launch a National Certification Programme to help women entrepreneurs qualify for public contracts through better documentation and compliance training.
She applauded UN Women’s Affirmative Action Procurement Reform Initiative in Kaduna State, which reserves a portion of public contracts for women-led businesses, describing inclusive procurement as “an economic strategy, not a concession.”
Also speaking, UN Women Nigeria’s Ms. Aisha Bendo-Alkali called for urgent action to address unpaid care work — a major barrier to women’s full economic participation — while highlighting ongoing partnerships with the African Development Bank (AfDB) and the Women Entrepreneurs Finance Initiative (We-Fi) to promote care-responsive policies.
In his goodwill message, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced that from January 2026, small businesses earning below ₦100 million annually will be exempt from corporate income tax — a move he said would “incentivize growth, not penalize enterprise.”
He also unveiled plans for a Unified Tax Identification Number (UTIN) integrated across agencies and a transition to fully digital tax filing to simplify compliance for SMEs.
The conference, supported by FIRS, FCMB, and UN Women, concluded with a collective pledge to deepen collaboration and ensure that policies translate into real empowerment for women entrepreneurs nationwide.
In her closing remarks, Babangida urged measurable reforms that create tangible impact: “A real reform is when a woman in Kaduna, Aba, or Makurdi feels the change — when she can register her business in minutes, access capital without fear, and supply to the government without discrimination.”
Ms. Shagaya summed up the federal government’s position succinctly: “Empowering women entrepreneurs is not charity — it is a national strategy and the path to building a resilient, inclusive Nigerian economy.”
