The Lagos state government has presented a N500 billion fund for empowering small businesses and informal sector women traders. The presentation took place during ECOWAS CARAVAN 2025, a regional campaign supporting women involved in cross-border trade across West Africa.
An additional N500 billion from the Bank of Industry brings the total support for small and medium enterprises to N1 trillion. According to Commerce Commissioner Folasade Medebem, the fund is collateral-free and offers beneficiaries a six-month break before repayment begins.
She emphasised that it is a strategic effort to support women who are the major force in the informal economy. The campaign focuses on the challenges women face in cross-border trade, including harassment and limitations to finance and information.
Launched by the economic community of West African states, the campaign started on June 30 and ended on July 14. Speaking at the ceremony, ECOWAS commissioner for social affairs, Fatou Sarr, commended Lagos residents for offering practical assistance.
She notes that the campaign is about giving women along the Lagos West Africa corridor, voice, value and visibility. According to her, when the government supports women who are the heart of informal trade, the entire region benefits.
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Contributing to this, the director general of the Lagos Chamber of Commerce, Chinyere Aloma, commended the financial commitment of the state. The director calls for more investment in local language training hubs and digital platforms to ease border procedures
She reiterated that women entrepreneurs deserve simplified trade protocols and the availability of formal support structures. The closing ceremony of the ECOWAS Caravan 2025 was held at the Federal Palace Hotel, Victoria Island.
