Connect with us

General News

83% Nigerian Women Consider themselves an Entrepreneur

Published

on

Kindly share this post

Nigerian women are embracing entrepreneurship at an extraordinary rate, with eight in ten (83%) women consider themselves an entrepreneur—far higher than the regional average of 51% across Eastern Europe, Middle East, and Africa (EEMEA). Among them, millennial women (86%) lead the way, outpacing their male counterparts (79%).

New research from Mastercard titled ‘Empowerment for All,’ released ahead of International Women’s Day 2025, highlights the driving forces behind this wave of entrepreneurship: financial independence, personal ambition, and the ability to turn brilliant ideas into reality. Among women business owners in Nigeria, 49% started their business to pursue a dream, while 45% wanted to bring a great idea to life—underscoring a strong sense of purpose among female entrepreneurs.

“The entrepreneurial spirit among women is strong and growing, with younger generations leading the way. With access to the right financial tools, mentorship, and digital resources, women entrepreneurs can unlock new business opportunities, drive innovation, and contribute significantly to economic development.

At Mastercard, we are committed to navigating barriers and fostering an ecosystem where women-led businesses can thrive,” said Selin Bahadirli, executive vice president, Services, Eastern Europe, Middle East and Africa, Mastercard.

Nigerian women are not only aspiring to start businesses but are also actively participating in side-hustles, with 87% engaged in income-generating activities outside their main job, highlighting their strong entrepreneurial drive and determination to achieve financial security and independence.

Advertisement

High entrepreneurial spirit across generations

  • Millennial women (86%) are the most likely to consider themselves entrepreneurs, followed by Gen Z (81%) and Gen X (73%).
  • 90% of Nigerian women want to start their own business and are highly motivated to build multiple income streams. Their top reasons for being:
    • Earning more money (83%)
    • Gaining financial independence (67%)
    • Creating a financial safety net (52%)
  • The outlook for business growth in Nigeria is overwhelmingly positive, with 93% of business owners (men and women) expecting revenue to increase over the next five years.

Top sectors for Nigerian women entrepreneurs

Nigerian women are pursuing business opportunities across diverse industries, with the most popular being:

  1. Agriculture (36%)
  2. Food and drink (22%)
  3. Education, including tutoring (20%)

 Barriers facing women entrepreneurs

Despite this entrepreneurial drive, confidence is a major issue among Nigerian women, with 15%—more than twice the proportion of men (7%)—feeling they lack the confidence to start a business. Nigerian women also to face significant barriers to starting and sustaining their businesses, citing lack of funding (57%), lack of financial resources (56%) and the difficulty in securing startup capital (40%) as the biggest challenges.

Folasade Femi-Lawal, Country Manager and Area Business Head for West Africa shared, “Nigerian women entrepreneurs are redefining business success with their ambition, creativity, and resilience. With 83% of women considering entrepreneurship, the opportunity to drive inclusive economic growth is immense. However, key barriers such as access to finance, digital infrastructure, and business skills must be addressed to ensure that their potential is fully realized. By working with partners in Nigeria, we are committed to equipping women entrepreneurs with the tools, networks, and capital they need to thrive in an increasingly digital economy.”

Women entrepreneurs in Nigeria are nearly four times more likely than men to struggle with childcare responsibilities when starting a business (14% vs. 4%), while 16% feel that starting a business is simply not an option for someone like them and 35% saying they need to stay in a job to maintain financial stability, highlighting the need for greater support and inclusion. Women also believe they lack the necessary knowledge to start a business (10%), compared to just 4% of men. Access to critical digital infrastructure is another key barrier affecting 35% of women entrepreneurs in Nigeria.

Advertisement

Support needed

To overcome these barriers, Nigerian women identified key enablers that would help them thrive, including:

  • More available funding options (65%) to ease financial constraints
  • Better training in business skills (55%) to build expertise
  • Greater access to grants and public funding schemes (47%) to accelerate growth

Women business owners in Nigeria are also more likely than men to recognize the importance of guidance in choosing the right technology (37% women vs. 29% men) and sustainable practices (35% women vs. 25% men) for their business as key factors for long-term success.

Leveraging technology for business success

Women entrepreneurs in Nigeria are leading the adoption of AI, with 80% regularly using AI in their business—nearly twice the rate of men (45%). Additionally, 82% of female entrepreneurs report significant cost and time savings from AI adoption, compared to 63% of men.

However, women are also more vulnerable to cybersecurity threats, with:

Advertisement
  • 51% of female business owners having been targeted by fraudsters, compared to 35% of men.
  • 65% of women worrying daily about cyberattacks, slightly higher than men (61%).
  • More women (27%) than men (22%) having lost customers due to scams, underscoring the need for stronger cybersecurity education and protection.

Mastercard has a long-standing commitment to enabling women entrepreneurs through financial inclusion, digital solutions, and knowledge-sharing initiatives. Since 2020, Mastercard has provided over 50 million small businesses including 37 million women entrepreneurs with support and solutions that can help them grow their businesses.

In Nigeria, Mastercard has partnered with organizations like SMEDAN, LSETF, KaiOS, and Allawee to support entrepreneurs with capacity building, access to market, access to credit and relevant business digitization tools and services.

Kindly share this post

Ugo Onwuaso is an ICT enthusiast. He believes technology should be used for general good. He holds a Master of Public Administration (MPA) degree from the Lagos state University. Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

General News

Anambra Govt Bans Graduation Ceremonies in Anambra Schools

Published

on

Kindly share this post

Prof. Chukwuma Soludo, governor, Anambra State, has approved an indefinite ban on graduation ceremonies in kindergarten, primary and secondary schools across the state as part of efforts to reduce the financial burden on parents.

Anambra Govt Bans Graduation Ceremonies in Anambra Schools

Prof. Chukwuma Soludo, governor, Anambra State,

The directive was confirmed by Dr. Law Mefor, commissioner for Information and Value Reformation, in a statement issued on Friday.

According to the commissioner, the government deemed it necessary to clarify the policy following public inquiries and concerns over the scope of the ban.

Mefor explained that the directive applies to all graduation-related ceremonies in both public and private schools across the state.

He said the ban covers events described as graduation, passing-out, crossover or any other ceremony organised to mark the completion of kindergarten, primary or secondary school levels.

The government said the decision was taken to discourage unnecessary financial obligations often imposed on parents through elaborate school celebrations.

Advertisement

The commissioner clarified that students completing Senior Secondary School (SS3) are exempt from the directive.

However, he stressed that graduation ceremonies for SS3 students are not compulsory and may only be held without imposing any financial burden on students or their parents.

According to him, schools choosing to organise such ceremonies must ensure that no levies, compulsory contributions or hidden charges are demanded from parents.

Mefor warned that the state government would not hesitate to sanction any school that violates the directive.

He said schools found organising prohibited graduation ceremonies or imposing illegal charges on parents risk severe penalties, including possible closure.

Advertisement

The commissioner urged school proprietors and administrators to comply fully with the directive in the interest of parents and the education sector.

The state government said the policy is part of broader efforts to make education more affordable and eliminate unnecessary expenses associated with school activities.

Many parents have previously complained about the increasing costs of graduation ceremonies, including compulsory levies for gowns, entertainment, souvenirs and other related expenses.

The government expressed optimism that the directive would ease the financial pressure on families while encouraging schools to focus more on academic excellence than ceremonial activities.

 

Advertisement

Kindly share this post
Continue Reading

General News

Universities, Polytechnics Submit 169 Entries for NASENI Research Commercialisation Grants

Published

on

Kindly share this post

About 169 proposals from Nigerian institutions including universities, polytechnics, and research institutes spread across Nigeria’s six geopolitical zones have entered for the NASENI Research Commercialization Grant Programme (NRCGP).

Universities, Polytechnics Submit 169 Entries for NASENI Research Commercialisation Grants

NASENI

The programme, an initiative of the National Agency for Science and Engineering Infrastructure (NASENI), aimed at bridging the gap between research and industry, is designed to identify innovative research with strong commercial potential and support its transition from laboratories to the marketplace.

Speaking on the latest episode of the NASENI Window Podcast, recorded on yesterday at NASENI Studio, NASENI headquarters, Abuja, the Team Lead of the NRCGP and Deputy Director, Monitoring and Evaluation, Ms. Joy Elugbe, said the team received 169 proposals from eligible institutions across the country, including Universities, polytechnics and other research institutions.

Following the close of applications, and to ensure transparency and a rigorous selection process, NASENI engaged 21 professors with expertise across the Agency’s approved thematic areas to evaluate the originality and technical quality of the shortlisted proposals.

According to her, a rigorous preliminary screening reduced the number to 49 proposals after removing duplicate entries and submissions that failed to meet eligibility requirements while the Agency’s Innovation Hub assessed their commercial viability to determine their potential for market adoption.

“12 proposals, two from each geopolitical zone, have progressed to the due diligence stage before the final selection of six grant beneficiaries will be done. The objective is not simply to fund research but to invest in innovations that can successfully reach the market and deliver real impact,” Elugbe explained.

Advertisement

The NRCGP was conceived to address one of Nigeria’s longstanding innovation challenges which is the research breakthroughs that remain on the shelves due to inadequate funding.

She said the initiative, championed by the Executive Vice Chairman/Chief Executive Officer of NASENI, Mr. Khalil Suleiman Halilu, targets promising research proposals with the capacity to generate economic value, create jobs and contribute to Nigeria’s industrial development.

“The idea behind the programme is to identify innovative and commercially viable research outputs that have remained on the shelves because of lack of funding, and provide the support needed to transform them into products that can impact the economy,” she said.

Explaining the concept of commercialization, Elugbe described it as the process of transforming an invention, research outcome or service into a profitable product that meets market needs. The NRCGP aligns with NASENI’s strategic focus on Collaboration, Creation and Commercialization (3Cs), stressing that innovation only achieves its full value when it reaches end-users.

She disclosed that following the launch of the application portal, the Proposal Evaluation Team went on nationwide sensitization campaigns across the six geopolitical zones to educate prospective applicants on the programme requirements and application process.

Advertisement

The sensitization exercise, complemented by radio awareness campaigns, significantly improved participation and the quality of submissions.

She further revealed that NASENI’s support would extend beyond grant disbursement, noting that successful innovators would be linked with the Agency’s Innovation Hub for continuous technical guidance, market advisory services and commercialization support to ensure their products achieve sustainable market success.

The NASENI Research Commercialization Grant Programme was inaugurated in March 2025 to promote innovation, technological advancement and the commercialization of research outcomes in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR.

Kindly share this post
Continue Reading

General News

NITRA Conference: Stakeholders Seek Policy Reforms, Grassroots Innovation to Bridge Nigeria’s Digital

Published

on

Kindly share this post

Stakeholders in Nigeria’s information and communications technology (ICT) sector have called for comprehensive policy reforms, stronger infrastructure investment and grassroots innovation to bridge the country’s digital divide and improve global competitiveness.

NITRA Conference: Stakeholders Seek Policy Reforms, Grassroots Innovation to Bridge Nigeria's Digital

NITRA Conference

The stakeholders made the call on Thursday during the Nigeria Information Technology Reporters Association (NITRA) Innovative and Scientific Conference held at Citi Height Hotel, Ikeja, Lagos.

The conference, themed “Bridging Nigeria’s Digital Divide With Scientific Innovation,” brought together government agencies, technology experts, regulators, telecom operators, private sector players, academics and policymakers to examine strategies for accelerating digital inclusion through science and innovation.

A panel session titled “The Place of Policy and Infrastructure in Nigeria’s Quest for Global Competitiveness through Scientific Innovation: Roles of Different Stakeholders in Grassroots Mobilisation” examined the policy, infrastructure and human capital requirements for driving Nigeria’s digital transformation.

Panelists identified multiple taxation, high right-of-way (RoW) charges, inconsistent state government policies, poor electricity supply, inadequate digital infrastructure and limited grassroots innovation support as major impediments to expanding broadband access and improving Nigeria’s competitiveness in the global digital economy.

One of the speakers noted that transporting internet bandwidth from Lagos to Canada is cheaper than extending connectivity to some parts of Nigeria because of infrastructure bottlenecks and multiple charges imposed by sub-national governments.

Advertisement

According to the panelist, although some state governments claim to have abolished right-of-way charges, operators are still subjected to numerous levies under different names.

“When we talk about right-of-way limitation, it affects the cost of providing services in some states.

“Some states say right of way is free, but when they grant free right of way, they introduce development charges, education levies and infrastructure fees, making the so-called free right of way meaningless,” the panelist said.

The speaker called for harmonised national policies that would eliminate multiple taxation and reduce the cost of deploying telecommunications infrastructure across the country.

Another panelist representing telecommunications operators stressed that government policies should encourage fair competition rather than favour dominant market players.

Advertisement

According to the representative, improved collaboration between regulators and industry operators is necessary to ensure that policies support innovation, cybersecurity and sustainable sector growth.

Speaking on innovation development, a representative of a private sector innovation fund said Nigeria must begin identifying and nurturing innovators from an early age.

The representative said the organisation supports young innovators through essay competitions, grants and educational programmes aimed at exposing students to science, technology and entrepreneurship.

“We believe innovation begins from childhood.

“By helping children in primary and secondary schools think creatively, they become better positioned to seize opportunities as they grow.

Advertisement

“Innovators exist everywhere, including rural communities. What many of them need is exposure and opportunity,” the speaker said.

On cybersecurity, another panelist advocated greater investment in developing indigenous cybersecurity professionals through structured internship and mentorship programmes.

The panelist also suggested that young people involved in cybercrime should, where appropriate, be rehabilitated and equipped with legitimate digital skills rather than relying solely on imprisonment.

“Part of what we are known for is developing local talent.

“We recruit interns from schools and train them in cybersecurity.

Advertisement

“We should find ways to harness the abilities of young cyber offenders instead of simply sending them to prison,” the speaker said.

A representative from the computer society sector emphasised that Nigeria’s digital transformation should begin with reforms in basic education.

According to the representative, pupils should be introduced to coding, robotics, artificial intelligence and innovation at the primary school level.

“If Nigeria wants to become globally competitive, we must start from primary school.

“Our schools should not merely prepare students for examinations; they should become innovation clubs where children learn robotics, coding and problem-solving,” the panelist said.

Advertisement

The speaker also referenced the recent launch of an artificial intelligence university portal in Lagos designed to create a talent pipeline from primary education through tertiary institutions.

Addressing regulation, a media analyst cautioned against excessive government control that could discourage technological innovation.

According to the analyst, regulatory frameworks should emerge through stakeholder engagement and strike a balance between consumer protection and innovation.

“Regulation must come with dialogue.

“If regulation becomes excessive, it will stifle innovation.

Advertisement

“As Nigeria develops policies on artificial intelligence, there is a need to strike the right balance,” the analyst said.

On infrastructure protection, another panelist called for stronger public awareness campaigns to discourage vandalism of telecommunications infrastructure.

The speaker said community ownership and public education are essential to safeguarding digital infrastructure.

“When telecommunications infrastructure is vandalised, everyone suffers, including regulators, operators and consumers.

“People need to understand that protecting infrastructure benefits the entire society,” the panelist said.

Advertisement

Participants also highlighted the affordability of digital services as a major challenge to digital inclusion.

One speaker urged the Federal Government to consider subsidy mechanisms that could reduce the cost of internet-enabled devices.

“Telecommunications companies are businesses, not charity organisations.

“If government introduces subsidy policies similar to what has been done in other sectors, device prices can become more affordable,” the speaker said.

Another panelist stressed that reliable electricity remains fundamental to Nigeria’s digital competitiveness.

Advertisement

“The child who enjoys uninterrupted electricity and internet access cannot be compared with one who has gone months without power.

“For Nigeria to compete globally, every child should have reliable electricity, internet access and opportunities to acquire digital skills,” the speaker added.

Earlier, NITRA Chairman, Mr Chike Onwuegbuchi, said the conference was organised to provide a platform for stakeholders to examine policy options capable of strengthening scientific innovation and promoting grassroots technological development.

He noted that the Federal Government had demonstrated increasing commitment to building an innovation-driven economy through various strategic initiatives.

Founded in 2013, NITRA is the umbrella body of journalists covering Nigeria’s information and communications technology sector.

Advertisement

Kindly share this post
Continue Reading

Trending