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Economy & Politics

FG records $9 million transactions from SheTrades since 2016 

FG has generated $9 million business leads since the introduction of the women export initiative, SheTrades Initiative in 2016.

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FG targets $150 billion revenue from Zero-oil plan 

The Federal Government (FG) has generated $9 million business leads since it introduced women export initiative, SheTrades Initiative in 2016. This was disclosed by the Nigerian Export Promotion Council (NEPC).

Executive Director, NEPC, Olusegun Awolowo, explained that the initiative had connected 190 female-led businesses to international buyers through support at international trade fairs, in-country business linkage events, and through a partnership with large private sector companies.

FG records $9 million transactions from SheTrades in 3 years 

Awolowo was represented by the Council’s Director of Policy and Strategy, Evelyn Obidike at the SheTrades Public Dialogue held in Abuja recently on Promoting Women Economic Empowerment and Public Procurement in Nigeria.

He emphasized that women empowerment was crucial to economic growth and development, especially in emerging economies like Nigeria.

 “Women economic empowerment is crucial to economic growth and development, especially in emerging economies like Nigeria. When women are economically empowered, they contribute significantly to employment generation, poverty reduction and increases in the standard of living,” he said.

[READ MORE: FG offers $1.1billion Agric mechanisation scheme)

Speaking further, Daily Trust reported that the NEPC boss said the initial aim of the initiative, when it was first introduced, was to connect 200,000 women-owned businesses in Nigeria to international markets. This was said to be part of the broader UN Goal of connecting 3 million women by 2021.

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What you should know: The SheTrades initiative was launched by the NEPC and the ITC in 2016 to empower women economically through greater participation in global trade and investment in Nigeria.

The SheTrades initiative provides women entrepreneurs around the world with a unique network and platform to connect to markets. Through the SheTrades app, women entrepreneurs are able to share information about their companies, increase visibility, expand networks, connect and internationalize.

Under the SheTrades Commonwealth programme, selected women-owned businesses, business support organizations and corporations will benefit from a wide range of opportunities to expand their business and jointly advance women’s economic empowerment.

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Chidinma holds a degree in Mass communication from Caleb University Lagos and a Masters in view in Public Relations. She strongly believes in self development which has made her volunteer with an NGO on girl child development. She loves writing, reading and travelling. You may contact her via - [email protected]

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Business News

Financial Autonomy: Governors, State Speakers reach agreement

The Governor also said that the final document of the agreement should be ready for implementation by May 2021.

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The Governors’ Forum, Conference of Speakers of State Legislature and other governance stakeholders announced that they reached a resolution over the implementation of financial autonomy for State Legislature and Judiciary.

This was disclosed by the Ekiti State Governor and Chairman Nigeria Governors’ Forum, Kayode Fayemi, after the meeting, which was held in Abuja on Monday, and presided by the Chief of Staff to the President, Prof. Ibrahim Gambari.

What the Governor said

“We are here for legislative and judicial autonomy and Governors; Speakers of State Assemblies and the Judges of the States are on the same page as far as this issue is concerned,” he said.

We just emerged from a meeting with the Solicitor General of the Federation, the representatives of the judiciary and those of the Conference of Speakers and we are all in force; an agreement has been reached.

READ: Finance Minister tasks FG and state governments to control spending

The issue is about implementation. There has been no objection from governors on judicial and legislative autonomy.

As a matter of fact, it would not have passed if governors were not in support in the first instance. So, that issue has been fully and holistically addressed,” Fayemi said.

The Governor also said that the final document of the agreement should be ready for implementation by May 2021 and urged striking workers  to return  to offices “because as far as this has gone, we have met with all the parties concerned and the President, through his Chief of Staff, has been monitoring what has been happening.”

What you should know

Nairametrics reported earlier this month that members of the Judiciary Staff Union of Nigeria (JUSUN) went on strike with the closure of Federal High Courts in different states across the nation. The union said the purpose of the strike was to draw attention to the financial autonomy of Nigeria’s Judiciary.

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Business

Finance Minister tasks FG and state governments to control spending

The Minister also denied claims that the FG printed N60 billion as top-up for March FAAC numbers.

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land borders to be reopened soon, Finance, Ministaer, vow to recover AMCON debt through issuance of promissory notes, FG reiterates stance on IPPIS as ASUU threatens strike, Finance Minister, Zainab Ahmed identifies capital market as key driver for economic growth , Nigeria has paid $1.09 billion to service its debts in 2019  , Dividends on oil proceeds will be taxed - FG , State governments own most bad roads - Finance Minister says, Budget deficit increases by N351.98 billion, as FG misses revenue target, Economy: Funding MSMEs in Nigeria , Finance Bill: New tax regime to take effect from Jan 2 - FG , Again, Finance Minister argues that Nigeria is not in debt distress , ECOWAS: Single currency regime not kicking off in 2020  , FG: CBN holds N43 billion stamp duty charges collected by banks , FG may shift deadline to deactivate bank accounts without tax verification, Confusion as ministry and presidency disagree over Finance Act start date, 7.5% VAT: Implementation to begin Feb 1 – FG , Finance Minister: Nigeria to go into recession if ..., Foreign tech companies that will now pay tax to FGN: see the criteria

The Minister of Finance, Zainab Ahmed, has called on Governments on all levels in Nigeria to control spending amid decreasing revenues and urged for prudent government spending. The Minister also denied claims that the Federal Government printed N60 billion as top-up for March FAAC numbers.

The Minister disclosed this in an interview on Monday and warned that the FG was not generating enough revenue to align with its spending habit.

READ: UK to return £4.2million seized from Ibori to Nigeria

Zainab Ahmed added that the FG would maintain its stance from January 2021 to end total fuel subsidies in Nigeria, and confirmed talks with organised labour on subsidy removal.

“As a nation, the Federal, State and Local governments must review expenditure patterns. We are spending too much and we are not generating enough,” she said.

READ: Resolving the global debt and liquidity crises, issues and possible solutions

What you should know 

Nairametrics reported last month that the Debt Management Office had announced that Nigeria’s public debt at end of 2020 was N32.915 trillion. The DMO said the sum of the debt included the Debt Stock of the Federal and State Governments, as well as the Federal Capital Territory.

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