Women-led SMEs crucial for Nigeria's $1 trillion economy goal
via Punch Nigeria2 min read
Gloria Onosode, Director of Enterprise Sales at FairMoney Business, states that the success of women-led businesses is fundamentally linked to Nigeria achieving its $1 trillion economy target by 2030. She emphasizes that these businesses must transition from passive roles to become primary growth drivers and strategic participants in their industries, integrating into the digital value chain for better record-keeping and data-driven decisions to access formal credit. Women now lead approximately 72% of Nigeria's 39.6 million MSMEs, making them key engines of job creation and community stability. Despite this, Nigerian women entrepreneurs face a credit gap estimated at over N2.9 trillion. Onosode highlights that digital empowerment for these enterprises is a macroeconomic necessity, not just a social initiative. FairMoney Microfinance Bank offers tools to help women move from informal savings to digitized, interest-bearing products. Research indicates that women reinvest up to 90% of their income into their families and communities, particularly in education, healthcare, and nutrition, demonstrating a significant multiplier effect. Onosode concludes that the resilience of women entrepreneurs will be the deciding factor in realizing Nigeria's economic aspirations.
Free daily or weekly digest of the most important stories from across 10 countries. No spam, unsubscribe any time.
This summary was AI-generated from a story originally published by Punch Nigeria.
The Super Falcons of Nigeria have moved up one place to 36th in the latest women’s world rankings but have recorded their lowest FIFA ranking points total in three years, now at 1602 points. This marks a five-point drop from December 2025 and is their lowest points return since June 2023. Despite this decline, Nigeria remains Africa’s top-ranked side, significantly ahead of South Africa, Ghana, Morocco, and Zambia. Globally, Spain holds the first position, followed by the United States and England. The team's inconsistent international schedule, including missing the April international window and reported withdrawals from planned friendlies, has contributed to the points erosion. This inactivity has raised concerns among players like Captain Rasheedat Ajibade and goalkeeper Chiamaka Nnadozie regarding preparation for the 2026 Women’s Africa Cup of Nations and subsequent 2027 Women’s World Cup qualification. The Falcons have only assembled once since qualifying for the 2026 WAFCON last October.
Former Nigeria international Mutiu Adepoju has endorsed Kelechi Iheanacho's potential return to the Super Eagles. Despite an injury-plagued season with Celtic, Iheanacho has shown a resurgence in form, scoring six goals and providing one assist in 18 appearances for the Scottish club. His recent performances, including two goals in the Scottish Cup semi-final, have sparked discussions about his national team prospects. Adepoju highlighted Iheanacho's enduring quality and experience, stating that his current form could warrant a recall if sustained. Adepoju expressed happiness about Iheanacho's improved performance at Celtic and confidence in his ability to maintain it, emphasizing the importance of experience in the national team. Iheanacho, who has 58 caps for Nigeria, previously played for Manchester City and Leicester City. His recent form, with three goals in his last three matches, underscores his sharpness. He last played for Nigeria in May during the 2025 Unity Cup, and his fitness could be a key factor as head coach Eric Chelle considers squad selections for upcoming matches against Portugal and Poland.
Christabel Chukwuonye, a 17-year-old member of the Nigeria women’s national cricket team, is recognized for her exceptional fielding skills. She was recently named Best Fielder at the 2026 Nigeria Cricket Federation Women’s Invitational Tournament, also known as the Patricia Kambarami Cup. Her critical run-out in a match against Zimbabwe U-19 demonstrated her impact, shifting momentum and restoring control for the Nigerian side. Chukwuonye's journey into cricket began through a grassroots development program in Benin City, Edo State, where her coach, Peter Esewi, introduced her to the sport. She is part of what is described as a "golden generation" of Nigerian women’s cricket, a squad known for its talent, cohesion, and shared ambition. Chukwuonye emphasizes that her involvement is about creating a legacy for Nigerian women’s cricket, not just individual achievement. Beyond cricket, she is a Public Health student, balancing academics with her athletic career. Former Female Yellow Greens captain and current assistant coach, Blessing Etim, praised Chukwuonye's structured play and hard work, noting her potential as a dangerous batter in addition to her fielding prowess. Etim highlighted that Chukwuonye's influence, though not always reflected on scorecards, is crucial to shaping match narratives and anchoring team performance.
The Nigerian American Chamber of Commerce NACC will honor Nigerian cultural entrepreneur and filmmaker Bolanle Austen-Peters with the Excellence in Cultural Innovation and Global Creative Industry Trailblazer Award. The award recognizes her contributions to Africa's creative economy and her role in projecting Nigerian stories globally. Austen-Peters, founder of Terra Kulture and BAP Productions, will receive the award during the NACC's April 2026 International Roundtable in Lagos on Thursday, April 23, 2026. The event, themed "Policy and Governance Reforms in Nigeria’s Immigration and Border Management Sector," will take place at the Legend Hotel, Lagos Airport. The NACC stated the award acknowledges her "visionary leadership in inspiring Nigerian creativity, promoting Africa’s cultural influence, and transforming the continent’s creative landscape through theatre, film, and cultural enterprise." Austen-Peters is recognized for driving Nigeria’s modern theatre and film resurgence through Terra Kulture, established in 2003, and BAP Productions, which has produced internationally recognized films and stage productions. She also emphasizes skills development through the Terra Academy for the Arts, in partnership with the Mastercard Foundation, training young Nigerians in film, theatre, and entrepreneurship. The NACC roundtable will gather government officials, policymakers, and private sector leaders to discuss immigration and border governance reforms. Expected guests include M