The Nimbus Aid Project, a social impact initiative by Nimbus Media Limited, has provided N40 million in advertising support to 20 women entrepreneurs to boost their brand awareness and credibility.
During the award ceremony held in Lagos, CEO of Nimbus Media Limited, Mr. Wale Adegoke, emphasized the pivotal role of supporting women-led businesses, recognizing them as the foundation of the nation’s economy. He stressed that these businesses not only deserve praise but also collective support, urging Nigerians to ensure their survival and prosperity.
Chief Stakeholder Engagement Officer of SANEF Nigeria, Uche Uzoebo, highlighted the profound connection between establishing sustainable and inclusive business ecosystems and their far-reaching impact on society. She emphasized that actively promoting and supporting women-led businesses not only fosters economic growth but also champions gender equality and social progress.
Dr. Bunmi-Kole Dawodu, Lagos State Manager of SMEDAN, spoke on the significant global impact of women-led businesses. He noted that supporting these businesses would contribute to job creation, a priority for the present administration. Citing a McKinsey report, he highlighted that if women participated in the economy at the same rate as men, the global Gross Domestic Product would increase by 26 percent. Dawodu also pointed out that women-led businesses tend to be more community-oriented and help bridge the gender gap.
He further disclosed that SMEDAN recognizes the barriers faced by female entrepreneurs in accessing capital funding, resources, and networks. He emphasized the need for public policy to create gender-sensitive programs that support the advancement of women-led businesses. Additionally, he revealed that in 2023, 70 percent of SMEDAN programs will be targeted towards women, with plans to continue this focus in 2024 to provide greater access to opportunities for women in their programs.