The Director-General of Small and Medium Enterprises Development Agency of Nigeria, Mr Olawale Fasanya, has disclosed that Federal Government will give 50% intervention initiative to strengthen women owned businesses in the country.
Fasanya made this known at the opening of ‘Meet With the CEO’ in collaboration with International Labour Organisation in Abuja on Wednesday.
The Director-General disclosed that in order to ensure this, SMEDAN now has a gender desk and had reserved 50 per cent of its intervention programmes for women.
SMEDAN Director-General stressed that the aims of the event was to broaden and deepen the capacity of the MSME operators on regulatory issues.
He said it would enable the agency initiate need based programmes that would promote MSMEs competitiveness in the global market.
He quoted the National Bureau of Statistics saying 40 per cent of businesses in the country are female-led and they contribute significantly to economic growth and job creation in the country.
“These businesses led by visionary women entrepreneurs are emerging as pivotal drivers of Nigeria’s economic resurgence.
“And they are contributing significantly to the nation’s development across divers sectors,” he added.
Fasanya said female-led businesses has continued to show resilience and high level optimism in spite of the COVID-19 pandemic, climate change and economic downturn.
He said, “Considering the impacts, female-led businesses continue to make progress in spite the challenges they face.
“The government and ecosystem players takes a more intentional approach to supporting the demographic segment for greater impact. “Particularly since investing in female-led businesses produces ripple benefits that triggers employment generation, poverty reduction and wealth creation.”
Fasanya then told the participants to interact with each other and with government officials, ask questions and network on ways to move forward.
He lauded the ILO, their Co-host, for the unwavering support towards the promotion of equal human right, social justice and sustainable development.
Meanwhile, the Founder of the Celina Unogwu Visioning Academy, Celina Unogwu, reiterated the importance of having a balanced work life as a woman entrepreneur.
Unogwu explained that work life balance refers to the intersection of work and personal life, when there is equilibrium or balance between a personal life and a professional life.
She observed the importance for entrepreneurs to be focused at their goal, urging the participants to work hard and believe in their dream.
She said, “Work hard, keep dreaming and bring it to life.”
