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Okonjo-Iweala unveils $50m fund to empower women in digital trade

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The Director-General of the World Trade Organisation, Ngozi Okonjo-Iweala,has unveiled a $50 million global fund to empower women entrepreneurs in digital trade, warning that global commerce is facing “extremely challenging times” marked by rising unilateralism and protectionism.

The initiative, known as the Women Exporters in the Digital Economy Fund, is a joint effort of the WTO and the International Trade Centre aimed at equipping women-owned businesses in developing countries with the skills, resources and networks to participate competitively in global value chains.

Speaking in her address on Thursday in Abuja, Okonjo-Iweala warned that Nigeria’s low internet penetration, with more than half of the population still offline, could limit the country’s ability to tap into the fast-growing global digital trade market.

Okonjo-Iweala said only 45 per cent of Nigerians are connected to the internet, far below the global average of 67 per cent.

The WTO DG said, “No nation can truly digitise without a steady supply of electricity and reliable, affordable internet. More than half of Nigerians remain disconnected, and this gap must be closed if we are to seize the opportunities of digital trade.”

“This is more than a programme. This is going to be a movement,” Okonjo-Iweala declared. “We want women entrepreneurs not just surviving, but thriving on the world stage.”

The former Nigerian finance minister said the launch comes at a time when total global trade stands at $30.4tn, with digital trade representing the fastest-growing segment, yet Africa’s share remains under one per cent.

“In 2005, digitally-delivered services like IT, consulting and education were worth about $1tn. Today, that figure has quadrupled to $4.25tn,” she noted. “It is an area where Nigeria’s women can and must take advantage.”

This year, the WEIDE Fund is rolling out in just four countries, Jordan, Mongolia, the Dominican Republic and Nigeria. Okonjo-Iweala said Nigeria’s selection followed a fiercely competitive process involving over 600 business support organisations worldwide.

“The Nigerian Export Promotion Council, under Mrs. Nonye Ayeni, stood out with a strong, well-thought-out application,” she said. “This was not man-no-man or woman-no-woman. Nigerians don’t need a Nigerian at the WTO to win, they win on their merit.”

Over 67,000 Nigerian women entrepreneurs applied for the first cohort. While the original plan was to support 100 businesses, the high quality of applications led to the selection of 146 beneficiaries.

“67,000 Nigerian women entrepreneurs applied for the fund. Due to the exceptional quality of entries, the number of beneficiaries was increased from 100 to 146 awardees.
“Sixteen entrepreneurs in the Booster Track will each receive up to US$30,000 and 18 months of technical assistance.

“One hundred and thirty entrepreneurs in the Discovery Track will each get up to US$5,000 and a year of business support.

“Beneficiaries operate across sectors such as agriculture, IT, fashion, hospitality, beauty, and manufacturing.”, she explained.

“These women come from all over Nigeria, from fashion and textiles to IT, tourism, agri-processing, beauty, and home goods,” Okonjo-Iweala said. “They are the heartbeat of Nigeria’s entrepreneurial energy.”

While lauding the government’s $2bn fibre optic project to connect rural and secondary cities, the WTO chief stressed that digital trade cannot thrive without reliable electricity.

“No nation can truly digitise without a steady supply of power,” she warned. “More than half of Nigerians are still offline, just 45 per cent are connected compared to the global average of 67 per cent.”

She called for inter-ministerial collaboration between the ministries of power, communications, women’s affairs, and trade to sustain and scale the initiative.

Okonjo-Iweala lamented that women remain underrepresented in Nigeria’s booming ICT sector, which contributed 18 per cent to GDP in 2022, up from less than 4 per cent in 2001.

“A study found that only 30 per cent of Nigerian tech firms are owned by women,” she said. “We rank 128th out of 148 countries in the Global Gender Gap Report. We can and must do better.”

She urged policymakers to see women’s empowerment as “smart economics” rather than charity, warning against policies like customs duties on cross-border digital trade that could choke small exporters.

“If countries start taxing digital trade, micro and small businesses, especially those run by women, will lose one of their best pathways into global markets,” she said.

Addressing the 146 awardees directly, Okonjo-Iweala said, “You earned this through hard work and vision. Use this moment to dream bigger, scale higher and go further. When I return in two years, I want to see how many more people you have hired, how many new markets you have reached, and how many women you have inspired.”

She concluded, “When women succeed, communities succeed, economies succeed. This is not just a moral case, it is an economic case. Let’s make it happen.”

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Trump administration cuts energy projects, freezes New York funding

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The Trump administration has announced plans to terminate dozens of clean energy projects and freeze billions of dollars for major projects in New York, intensifying a stand-off with Democrats over a US government shutdown.

US media outlets described the moves announced by the energy and transportation departments as part of the administration’s efforts to pressure Democrats in Congress to agree on a deal to end the shutdown.

US President Donald Trump had raced to enact hard-right policies even before the shutdown began after midnight on Tuesday, threatening mass firings and to slash government departments, and blaming Democrats for Congress’ failure to resolve a funding stand-off.

The Department of Energy announced on Thursday “the termination of 321 financial awards supporting 223 projects, resulting in a savings of approximately $7.56 billion for American taxpayers.”

It said in a statement that those projects — overseen by the Office of Clean Energy Demonstrations, the Office of Energy Efficiency and Renewable Energy and other bodies — “did not adequately advance the nation’s energy needs… and would not provide a positive return on investment of taxpayer dollars.”

However, recipients of federal funding have 30 days to appeal against a termination decision, and some have already begun the process, the statement said.

It did not list the projects in question.

In a post on social media platform X, Russell Vought, who heads the powerful Office of Management and Budget, called the slashed projects “Green New Scam funding” that was used to advance “the Left’s climate agenda”.

He listed the states affected by the decision. They include California, New York and 14 others — all blue states where Trump failed to win in the 2024 presidential elections.

California Governor Gavin Newsom said the Trump administration had decided to cancel “up to $1.2 billion” slated for a major hydrogen energy project, threatening tens of thousands of jobs.

“In Trump’s America, energy policy is set by the highest bidder, economics and common sense be damned,” Newsom said in a statement, vowing to keep pursuing a “clean energy strategy… no matter what DC tries to dictate.”

In New York — the home state of top Senate Democrat Chuck Schumer and House Minority Leader Hakeem Jeffries — the Department of Transportation announced on Wednesday it was freezing nearly $18 billion in federal funding for two major infrastructure projects, the Second Avenue subway and Hudson Tunnel.

The move takes aim at diversity, equity and inclusion policies, according to the department’s statement, saying that subsidizing projects with “race- and sex-based contracting requirements… is unconstitutional, counter to civil rights laws, and a waste of taxpayer resources.”

The funds would be frozen until a “quick administrative review is complete,” it said.

“Thanks to the Chuck Schumer and Hakeem Jeffries shutdown, however, USDOT’s review of New York’s unconstitutional practices will take more time,” it added, saying that the department “has been forced to furlough the civil rights staff responsible for conducting this review.”

New York Governor Kathy Hochul, a Democrat, said in a statement that halting funding for “critical infrastructure projects” was “political payback and an attack on New York.”

“Donald Trump has been clear: he is intent on using his reckless government shutdown to hurt the American people,” she said.

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Shettima returns to Abuja after attending UNGA, meetings in Germany

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Vice President Kashim Shettima has returned to Abuja after representing President Bola Tinubu at the 80th Session of the United Nations General Assembly in New York and high-level engagements in Germany.

The vice president’s aircraft touched down at the presidential wing of the Nnamdi Azikiwe International Airport, Abuja, in the early hours of Thursday, where he was received by senior government officials.

During the week-long engagements, Shettima delivered the President’s national statement at the UNGA, calling for comprehensive reforms of the global body.

Vice President Kashim Shettima is being welcomed some government officials at the airport. Photo: State House

He also advocated Africa’s sovereignty over its estimated $700 billion mineral resources and strengthened Nigeria’s partnerships with the United Kingdom, the Gates Foundation, and other international stakeholders.

In New York, Shettima met with UN Secretary-General António Guterres, who commended Nigeria’s bid for a permanent seat on the UN Security Council.

The vice president also showcased Nigeria’s $200 billion energy transition opportunities to global investors and assured members of the Nigerian diaspora of continued engagement in the Tinubu administration’s policies and programmes.

He later proceeded to Germany for further strategic meetings before returning to the country.

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Lagos unveils artisan certification to curb building collapse

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The Lagos State Materials Testing Laboratory has launched a new certification and training programme for artisans in the construction industry as part of efforts to stem the spate of building collapses in the state.

The initiative, known as the Certified Structural Integrated Programme, was unveiled at a stakeholders’ forum held in Ese-Offin and Badagry, where block moulders, bricklayers, concrete mixers, steel fabricators and welders converged to pledge support for safer construction practices.

In a statement on Thursday by the Lagos Government, General Manager of LSMTL, Olayinka Abdul, said the programme marked a decisive step in tackling recurring tragedies linked to substandard construction materials.

“Without artisans, there is no construction. But with you, we have the power to ensure every construction is safe, sound, and secure. We need to earnestly curb episodes of collapse in high-water-prone communities, and we do not want such in your community. It ends today,” he said.

According to the statement, the CSIP is a five-year assessment programme aimed at certifying construction materials as fit-for-purpose.

It will also produce an official directory of approved block moulders, concrete mixers and steel fabricators, to whom developers will be directed for supplies.

“This is not just about enforcement; it is about partnership and empowerment. Together, we can forge an unbreakable alliance that makes Lagos a model for building safety and integrity,” Abdul added.

Technical experts at the forum highlighted the scientific backing for the initiative. Director of the Soil and Geotechnics Unit, Engr. Abimbola Adebayo, stressed the need for mandatory soil tests before construction.

Similarly, Kayode Akinfeleye of the Technical Services Department advised builders to ensure architectural drawings are obtained and preserved, describing them as “a core requirement in the Lagos building process.”

Artisan guild leaders welcomed the initiative. Chairman of the National Association of Block Moulders of Nigeria, Alhaji Fabiyi Oyeleke, described frequent collapses as “disheartening” and commended the forum as a step in the right direction.

On his part, Chairman of the Lagos State Bricklayers Association, Mr. Fashina Aro, noted the peculiarities of Lagos’s swampy terrain and urged all stakeholders to ensure materials and soil tests are completed before bricklayers commence work on any site.

Building collapse has been a persistent challenge in Lagos, with many lives lost and substantial property damage over the years.

In recent incidents, emergency responders have had to rescue workers from collapsed structures.

PUNCH Online reports that rescue teams pulled eight workers from the debris of a collapsed building in September.

Reports by the Building Collapse Prevention Guild show Lagos accounts for about 55% of recorded building collapse incidents in Nigeria over the past several decades.

In response, Lagos has taken steps to strengthen bodies like the Lagos State Building Control Agency, enhancing enforcement, monitoring, and regulation of building standards.

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