The number of women-owned businesses in Nigeria has seen a significant rise.
According to a recent report by the FATE Foundation, the number of women-led businesses increased by 14.29% in 2024, a notable improvement from the 7.69% growth recorded in 2023.
This marks steady progress in female entrepreneurship over the past few years.
The report also highlighted that 48% of the surveyed businesses were owned or run by women entrepreneurs, up from 42% in 2023 and 39% in 2022. The growth was driven by factors such as access to markets, increased demand, technology adoption, access to finance, and a skilled workforce.
Additionally, a report by the National Bureau of Statistics (NBS) revealed that 40% of small businesses in Nigeria are now owned by women, signifying a major milestone for gender equality and women empowerment in the country’s business landscape.
These businesses are contributing significantly to economic growth and job creation.
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