The Presidency has praised Nigerian women and Small and Medium Enterprises (SMEs) for their vital role in driving national growth, describing them as “the lifeblood of Nigeria’s economy.”
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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, reaffirmed the government’s commitment to making it easier for women entrepreneurs to thrive. She noted that ongoing reforms aim to reduce the cost of doing business, expand access to finance, and promote gender-responsive policies that encourage inclusive economic growth.
This year’s conference, themed “Policy Reforms and Resilience Strategies for Small and Medium Enterprises in a New Economy,” gathered top policymakers, development partners, financiers, and entrepreneurs from across the country.
Women: The Quiet Economists Behind Every Home
Ms. Shagaya highlighted that, under President Bola Ahmed Tinubu’s Renewed Hope Agenda, women-led SMEs remain “the quiet economists of every household” — the unsung heroes keeping the nation’s economy alive through innovation, job creation, and problem-solving.
“Across Nigeria, women entrepreneurs are doing the hard work of keeping our economy alive — innovating, employing, and solving local problems with global relevance. About 70% of public submissions on SME policy reforms came from women,” she shared.
She pointed to government efforts like the Presidential Power Initiative, digital financing platforms, and tax harmonisation reforms, which are designed to cut operational costs for small businesses — most of which are run by women.
Ms. Shagaya also revealed partnerships between the Bank of Industry and other financial institutions to make loans more accessible for women entrepreneurs who struggle with collateral. With a touch of humour, she said, “You no longer need to bring your grandmother’s land title to secure a loan.”
Her office recently hosted a digital feedback call that received over 100,000 submissions — with more than 70% coming from women business owners. “This is no longer a time for policy on paper,” she said. “It’s time for policy that reaches people where they are — especially the women at the heart of our enterprise sector.”
Aisha Babangida: Turning Policy into Action
Her Excellency Aisha Babangida, Founder of WenA, described the conference as a space to move beyond discussions and turn national and global policy promises into measurable results for women-led businesses.
She stressed that many women still face barriers such as limited access to information, capital, and markets, and are weighed down by complex regulations.
“When I founded WenA, I thought passion was enough. But it wasn’t,” she admitted. “The paperwork, the tax codes, the licensing rules — these were heavy even for those of us with networks. Imagine what it’s like for a woman starting a micro-business in a rural town with little support.”
Babangida applauded UN Women Nigeria for its Affirmative Action Procurement Reform Initiative in Kaduna State, which has introduced female representation on procurement boards, waived registration fees, and set aside portions of public contracts for women-led businesses.
“Inclusive procurement is not a concession to women; it is an economic strategy,” she said firmly.
She also announced that WenA will soon launch a National Certification Programme to help women entrepreneurs qualify for government contracts by strengthening their documentation, compliance, and business capacity.
“Our goal is not to highlight problems but to unlock solutions,” Babangida said. “Today, we move from policy talk to practical tools — from exclusion to empowerment.”
UN Women and AfDB: Supporting Care-Responsive Policies
At a pre-conference policy workshop, Ms. Aisha Bendo-Alkali of UN Women Nigeria called attention to the heavy burden of unpaid care work, which limits women’s participation in the economy.
Supported by the African Development Bank (AfDB) and Women Entrepreneurs Finance Initiative (We-Fi), the initiative promotes care-responsive policies that integrate women’s economic empowerment into national development planning.
“Reducing the burden of unpaid care is not just a gender equality goal — it’s essential for unlocking national productivity,” she said, urging broader adoption of inclusive procurement policies across Nigeria.
FIRS Introduces ₦100 Million Tax Exemption for SMEs
Delivering his goodwill message, the Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr. Zacch Adedeji, announced new fiscal reforms to ease the tax burden on small businesses, especially those run by women.
He revealed that starting January 2026, SMEs earning ₦100 million or less annually will be exempted from corporate income tax — a move designed to encourage growth rather than penalize enterprise.
“Taxation should support the formalisation and scaling of small businesses — not stifle them,” he said.
Dr. Adedeji also introduced the Unified Tax Identification Number (UTIN), which integrates business records across the Corporate Affairs Commission (CAC), FIRS, and other agencies to simplify compliance. He added that FIRS is transitioning to fully digital tax filing, cutting out paper-based bureaucracy for good.
Building a More Inclusive Economy
The 5th WenA Conference brought together senior government officials, development agencies, private sector leaders, and entrepreneurs — all united in their commitment to driving inclusive economic growth and empowering women-led businesses.
In her closing remarks, Aisha Babangida stressed that true reform must be measured by its impact on real people.
“A real reform,” she said, “is when a woman in Kaduna, Aba, or Makurdi feels the change in her daily hustle — when she can register her business in minutes, access capital without fear, and supply to the government without discrimination.”
Supported by FIRS, FCMB, and UN Women, the event concluded with a collective pledge to advance gender-inclusive economic frameworks that leave no woman behind.
As Ms. Shagaya summed it up:
“Empowering women entrepreneurs is not charity — it is a national strategy, and the key to building a resilient and inclusive Nigerian economy.”
