Women in Trade: Empowering economies locally, across Africa, globally

Nigeria’s trade landscape has been significantly shaped by the contributions of women, both historically and in the modern global economy.

These women are transforming the local trade ecosystem and making powerful waves in regional and international trade discussions.

From early commerce in local markets to leadership roles in global trade bodies, Nigerian women have been trailblazers, breaking barriers and reshaping the future of trade globally.

Historical Contributions of Nigerian Women in Trade

In pre-colonial and colonial Nigeria, women played a central role in the trade system, especially within local communities. The influential Nigerian women controlled key industries, from agriculture to textiles, ensuring the circulation of goods in both local and regional markets. For instance, the Igbo women of southeastern Nigeria were critical in the palm oil trade, one of the major export commodities during colonial times. These women were not just traders but were also leaders, actively participating in social and political movements, such as the famous Aba Women’s Riot of 1929 and the several demonstrations by women in Abeokuta and its environs, which sought to challenge oppressive colonial taxation policies.

Women in these early periods were not only the backbone of Nigeria’s domestic economy but also played a significant role in regional trade across West Africa. While their contributions were often underappreciated, the enduring legacy of Nigerian women in trade continues to shape the nation’s modern economy.

Leading Women in Trade Today

Today, Nigerian women are making waves in the global trade ecosystem, from global trade policy to local entrepreneurship. Their leadership across both public and private sectors is creating new opportunities for Nigerian businesses, especially small and medium-sized enterprises (SMEs), to thrive on the world stage. These women have become pillars of influence in driving the narrative of economic growth, sustainability, and gender equality in trade.

Ngozi Okonjo-Iweala: A Global Champion for Trade

Dr Ngozi Okonjo-Iweala

Ngozi Okonjo-Iweala is perhaps the most iconic Nigerian woman in today’s global trade scene. Serving as the Director-General of the World Trade Organisation (WTO), she has shattered glass ceilings as the first woman and African to hold the position. Her leadership has reshaped global trade discussions with a focus on inclusivity, equitable access to markets and the needs of developing economies. Before her appointment at the WTO, Mrs Okonjo-Iweala was Nigeria’s Finance Minister and a prominent figure at the World Bank, where she helped craft policies to reduce poverty and improve financial systems globally.

Her work at the WTO, advocating the African Continental Free Trade Area (AfCFTA) and promoting fairer trade rules, has cemented her legacy as one of the most influential women in global trade. Mrs Okonjo-Iweala’s journey from local Nigerian markets to the highest level of international trade governance highlights the transformative power of women in global commerce.

Jumoke Oduwole, the Honourable Minister of Industry, Trade and Investment: Empowering Women in Nigeria

Dr Jumoke Oduwole

Jumoke Oduwole is another key figure in the country’s trade ecosystem. As a policymaker, she has been instrumental in formulating Nigeria’s economic policies that encourage trade growth and investment while simultaneously ensuring that women entrepreneurs are included in the economic mainstream. Under her leadership, Nigeria has worked towards creating a more conducive business environment for both domestic and foreign investors.

Her work in international trade agreements, including efforts to promote AfCFTA, has positioned Nigeria to leverage its place in the global economy. She has been a staunch advocate for women’s economic inclusion, ensuring Nigerian women have access to the tools and platforms needed to expand their businesses.

Kanayo Awani: Leading Intra-African Trade at AFREXIM

Kanayo Awani

Kanayo Awani, the director of the Intra-African Trade Initiative at the African Export-Import Bank (AFREXIM), is playing a significant role in reshaping trade across the African continent. AFREXIM’s mission is to promote and facilitate intra-African trade, and under Awani’s leadership, this vision is being realised through innovative initiatives and support programs for African businesses, especially women-led SMEs.

Ms Awani has been a champion for policies that enhance economic integration and increase the ability of women entrepreneurs to participate in continental and global value chains. Through initiatives like the Intra-African Trade Fair, Awani is leading the charge in making Africa more self-reliant and interconnected, ensuring that African countries, including Nigeria, can better capitalise on trade opportunities.

Oluranti Doherty: Advancing Export Trade through AFREXIM

Mrs Oluranti Doherty

Ranti Doherty, the managing director of Export Development at AFREXIM, has also emerged as a vital figure in Nigeria’s trade landscape. With a strong background in export development, Ms Doherty’s role at AFREXIM focuses on advancing the continent’s exports to global markets. Her work spans creating strategic partnerships, providing exporters with access to finance, and promoting African products abroad. She is committed to ensuring that Africa becomes a major player in global trade by expanding its export capacity and promoting African-made goods in international markets.

Through her leadership, Ms Doherty is opening new doors for African businesses to reach a wider global audience, including enhancing trade agreements that benefit local women-led businesses.

Folasade Ambrose-Medebem: Commissioner for Trade in Lagos

Mrs Folasade Ambrose-Medebem

As the Honourable Commissioner for Commerce, Industry and Cooperatives in Lagos State, Folasade Ambrose-Medebem has played a pivotal role in improving the state’s trade infrastructure and boosting its position as an economic hub in Nigeria. Lagos, Nigeria’s commercial capital, is a key player in the country’s trade ecosystem, and Mrs Ambrose-Medebem has worked tirelessly to promote policies that encourage local and international trade. Her initiatives have particularly focused on empowering women entrepreneurs, helping them navigate the complex world of trade through capacity-building programs and financial support.

Weyinmi Eribo: Championing Women Entrepreneurs at the Women Chamber of Commerce

Weyinmi Eribo

Weyinmi Eribo, the director-general of the Women Chamber of Commerce and Industry in Nigeria (WCCIN), has long been an advocate for the economic empowerment of women in trade. Her efforts to create a platform for women to engage in trade discussions and access markets have been instrumental in breaking down barriers for women entrepreneurs. Through her leadership, the WCCIN has become a vital network for women in trade, providing them with training, resources, and access to financing that helps elevate their businesses.

Her work is crucial in ensuring that Nigerian women are not left behind as the global economy increasingly moves toward digitalisation and technological innovation.

Chinyere Alumona: Pioneering Business Growth at Lagos Chamber of Commerce

Dr Chinyere Alumona

Chinyere Alumona, the director-general of the Lagos Chamber of Commerce and Industry (LCCI), has also played a key role in advancing trade in Nigeria, particularly in Lagos State. Under her leadership, LCCI has served as a significant advocate for trade policy reforms, especially in the areas of trade facilitation and business networking. Alumona has been instrumental in promoting an inclusive trade environment where women entrepreneurs can thrive, grow their businesses, and participate in high-value markets.

Adesuwa Oladoja: Developing Trade Infrastructure in the Lekki Free Zone

Adesuwa Oladoja, the managing director of the Lekki Free Zone, is another prominent Nigerian woman in charge of trade development. The Lekki Free Zone in Lagos is one of Nigeria’s most ambitious trade and industrial development projects, focusing on attracting foreign investment and promoting trade. Mrs Oladoja’s leadership in managing the zone is transforming it into a dynamic economic hub that facilitates international trade and supports Nigerian businesses, especially in manufacturing and export.

Her work is pivotal in ensuring that the Lekki Free Zone becomes a vital gateway for Nigerian goods to global markets, providing Nigerian women entrepreneurs with the opportunities to tap into new supply chains and reach larger international markets.

Zahra Mustapha Audu: Director General, Presidential Enabling Business Environment Council. (PEBEC)

Princess Zahra Mustapha-Audu

Promoting Trade Reforms at PEBEC

Princess Zahra, a key figure at the Presidential Enabling Business Environment Council (PEBEC), is working to remove obstacles that hinder Nigerian businesses, especially women entrepreneurs, from thriving in a competitive global marketplace. PEBEC is responsible for driving reforms that improve Nigeria’s ease of doing business, and Zahra’s work focuses on ensuring that women-led businesses have equal access to resources, finance and opportunities to expand.

Her advocacy for trade reforms is going to be crucial in making Nigeria’s business environment more inclusive, ensuring that women’s voices are heard and their contributions to trade recognized.

Nneka Onyeali-Ikpe: Empowering Trade Through Financial Services

Mrs Nneka Onyeali-Ikpe

Mrs Onyeali-Ikpe, the chief executive officer of Fidelity Bank, is a supportive female leader who is actively financing and enabling trade in Nigeria. Under her leadership, Fidelity Bank has introduced several initiatives aimed at supporting women entrepreneurs and facilitating access to finance for small and medium-sized enterprises (SMEs). Mrs Onyeali-Ikpe has championed the cause of women in business by creating tailored financial products that empower women to grow their businesses and participate more actively in trade.

Her approach has significantly helped businesses, especially those in trade and export sectors, gain access to the capital and financial support necessary to expand and thrive. By prioritizing financial inclusion and making banking services more accessible to women, Mrs Onyeali-Ikpe is ensuring that women entrepreneurs are not limited by financial barriers, enabling them to participate more fully in the global economy.

The Future of Women in Nigerian Trade

The influence of women in trade across Nigeria, Africa and the world continues to grow, as the aforementioned women, among others, lead the charge in breaking down barriers and empowering future generations. As Nigerian women occupy positions of leadership, they are laying the foundation for a more inclusive, fair and dynamic trade ecosystem.

Their contributions, from policy formulation to facilitating business growth, are indispensable to the success of both the Nigerian and African economies. The ongoing efforts to foster women’s participation in trade, signal a brighter future where women lead the way in driving global commerce. The active engagement of supportive leaders will further strengthen the drive to ensure women’s access to trade and financial opportunities, reinforcing a transformative vision for Nigeria’s trade future.