By Vivian Emoni

Mr Agabaidu Jideani, Director-General of the Abuja Chamber of Commerce and Industry (ACCI), has expressed concern over the significant challenges women entrepreneurs face in accessing finance and securing contracts in Nigeria.

Jideani raised the concern in Abuja, at a Stakeholders’ Meeting organised by the ACCI with support from the Investment Climate Reform (ICR) Facility.

He emphasised the urgent need for Nigeria to adopt a clear and formal definition of Women-Owned Businesses (WoBs).

He noted that across boardrooms, markets, farms, and digital platforms, Nigerian women were driving enterprise, creating jobs, and sustaining livelihoods.

“Yet, in spite of their contributions, they remain underserved.

“In spite of their contributions, women entrepreneurs still face significant challenges in accessing finance, contracts, or qualifying for government support.

“One of the major reasons for this is that Nigeria does not have a definition for what qualifies as a Women-Owned Business,” Jideani said.

He explained that the policy gap created a silent barrier, limiting access to opportunities and leaving millions of women on the margins of economic growth.

“By contrast, several African countries that have adopted formal definitions for WoBs have used them to unlock targeted financing schemes and improve data collection.

“Government agencies, banks, and donors have no standard benchmark to determine who qualifies as a WoB.

“As a result, many women fall through the cracks, unable to access the very tools designed to support them.

“Without a definition, how can we collect gender-specific business data or design programmes that close persistent inequality gaps,” he asked?

Jideani revealed that the ACCI, with support from the ICR Facility, had facilitated a landmark dialogue involving government, civil society, women’s business networks, and the private sector.

“This effort led to the adoption of a working definition on May 1, 2025, by the ACCI and its partners, including Ministries, Departments, and Agencies (MDAs), under a Joint Action Committee.

“The ACCI, with backing from the ICR Facility, co-funded by the European Union and the Organisation of African, Caribbean and Pacific States, is advocating for the formal adoption of the WoB definition at the national level,” he said.

He added that the German Federal Ministry for Economic Cooperation and Development (BMZ) and the British Council were also supporting the initiative.

To push the agenda forward, Jideani announced that the ACCI and the Joint Action Committee would host a business breakfast meeting on June 10, 2025.

“The meeting will convene representatives from government agencies, financial institutions, women’s business groups, and other key stakeholders.

“This is a pivotal moment. Adopting a national definition of women-owned businesses is not just about words on paper.

“It is about giving millions of women their rightful place in the economy, unlocking inclusive growth, and boosting Nigeria’s global competitiveness.

“Let us not miss this opportunity. Let us meet and exchange ideas to define what truly matters,” Jideani said. (NAN)(www.nannews.ng)

Edited by Abiemwense Moru