Nigeria is home to over 23 million female entrepreneurs, one of the highest numbers in the world. Women now own about 41 per cent of micro-businesses and nearly 40 per cent of all Small and Medium Enterprises (SMEs) in the country. Yet, over 80 per cent of these businesses still operate without access to formal credit. This is the paradox and the promise of women’s entrepreneurship in Nigeria. We are everywhere, from the tomato seller in Mile 12 to the tech founder in Yaba, from the fashion designer in Aba to the caterer in Abuja like myself. We are not just participating in the economy; we are sustaining it. Women entrepreneurs matter because when a woman builds a business in Nigeria, she doesn’t just create income for herself. She creates a lifeline for her family, her community, and ultimately, for the nation’s economy. The impact of women entrepreneurs goes far beyond individual hustle. It is structural. MSMEs make up 96.7 per cent of all businesses in Nigeria, contribute about 48-49 per cent of our national GDP and employ over 84 per cent of the labour force. With women owning close to 40 per cent of these enterprises, millions of jobs are directly created by women. Women are also the backbone of local value chains. In agriculture, women contribute over 40 per cent of the agricultural labour force. They process garri, package zobo, mill rice, and transform raw produce into finished goods that feed the nation and reduce import dependence. Nigerian women are innovating where it matters most. In agriculture, fashion, technology, catering, manufacturing, and retail. We are turning local problems into global-standard products. From organic skincare made from shea butter to apps that connect farmers to markets, to catering brands. Studies show women-owned businesses contribute about 37 per cent to Nigeria’s GDP. But our contribution is not just statistical. A woman who makes profit pays school fees, supports other women suppliers, funds community weddings, and reinvests in her neighborhood. We build communities while we build businesses. Despite this immense contribution, the journey of a woman entrepreneur in Nigeria is still an uphill climb. One is limited access to finance. This remains the biggest barrier. According to the Federal Ministry of Women Affairs, over 80 per cent of women-owned businesses lack access to formal credit. Only 23 per cent have access to formal bank accounts compared to their male counterparts. Most start with personal savings, family contributions, or ajo/esusu. Another is the high cost of doing business. From skyrocketing prices of flour, sugar, and cooking oil for caterers, to the cost of fabrics for fashion designers, inflation eats directly into our already thin margins. For women-owned businesses in the informal sector, less than 10 per cent make more than N50, 000 profit daily. Unreliable electricity means a caterer must buy fuel for generators to keep cakes cool. Poor roads mean a farmer cannot move tomatoes to market. Lack of affordable storage means post-harvest losses. Many women still have to navigate the expectation to be full-time homemakers while running full-time businesses. In some communities, women cannot own land or assets that could serve as collateral for loans. Many brilliant women have great products but no access to big markets, export channels, or the business networks where deals are made. We are often excluded from the rooms where opportunities are discussed. If Nigeria truly wants to grow its economy, empowering women entrepreneurs cannot be charity; it must be strategy. Here is what needs to happen: Improved access to funding: We need more than micro-loans. We need tailored financial products with low interest rates, flexible collateral requirements, and longer repayment periods. Government institutions like the Bank of Industry and private sector funds must intentionally ring-fence capital for women-owned businesses and simplify the process of accessing it. More business training and mentorship: Capital without capacity is wasted. Women need access to practical training in bookkeeping, digital marketing, pricing, food safety, export procedures, and business management. Mentorship programmes connecting experienced entrepreneurs with starters, like the Women in Business Trade Group of ACCI, should be scaled nationwide. Policies that support women-owned businesses: Government must move from policy to implementation. Tax incentives for women-led MSMEs, deliberate inclusion of women in public procurement, and investment in reliable power, cold storage, and market infrastructure will reduce the cost of doing business drastically. Increased private sector and government investment: Corporates, banks, and development agencies must invest intentionally in women. This includes buying from women-owned businesses, providing market access, and supporting technology adoption that helps small businesses scale beyond their local co
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