Women Stakeholders, Others Advocate Evidence-based Research to Drive Policy for Women 

Oluchi Chibuzor 

United Nation Women, FATE Foundation and other critical women stakeholders have advocated for the country’s economic policy concerning women to be driven by data and evidence-based research especially as it relates to entrepreneurship empowerment.

These were the views of the different women stakeholders at the FATE Foundation 10th series on Entrepreneurship with the theme, ‘Nigeria in The Next Decade: Building A Thriving Entrepreneurial Ecosystem For The Future’, held yesterday, in Lagos.

Delivering the keynote address at the 10th Policy Dialogue Series, Country Representative Nigeria, UN Women, Beatrice Eyong, said that evidence-based data in driving issues concerning women is critical in the next decade.

She advised that the country must continuously find ways and opportunities to finance gender equity, transform care systems and address climate action.

“Equally important in this journey is expanding evidence-based research and advocacy. Which will require action through partnerships, convenings, implementation of plans and policies, addressing norms that serve as barriers, data-based analysis and decision making.  

“Advocacy that is rooted in data and research will ensure we keep women’s needs and contributions at the forefront of economic policy and development initiatives. By deepening our understanding of the unique challenges and opportunities facing women entrepreneurs, we can more effectively influence policy, mobilize resources, and tailor our support to areas of greatest impact,” she said.

She advocated the need to create a better business environment that would improve the ease of doing business, easy access to technology and improved infrastructure.

She noted that the need also to improve access to credit for women and youth entrepreneurs, to capacity building, and establishing favourable policies, laws, and regulations that would facilitate a thriving business space for all.

However, she stressed that any effort targeted at the economic well-being of women must adopt gender responsive budgeting.

“The future of the economic well-being of women will also require the adoption of gender responsive budgeting (GRB), which is budgeting that works for everyone.”

Speaking at the event, the Executive Director, FATE Foundation, Adenike Adeyemi, encouraged women to dig deep and embrace Entrepreneurship. 

According to her, “Investing in female entrepreneurship means investing in communities, families, and future generations. Women play a vital role, and we must break down barriers hindering their success. The Policy Dialogue Series is our initiative to provide valuable data and spark meaningful conversations around supporting women’s entrepreneurship in Nigeria.”

However, panelists acknowledged that they believed women must build up their confidence and seek information on where they can find funding for their businesses.

On her side, CEO, Cherie Blair Foundation, Dhivya O’Connor, said “Women need to build the confidence to be able to seek funding and formalise their businesses. formalization also means keeping clear financial records and making sure that personal finances are separate from business finances.”

While the Director General Women Chamber of Commerce , Industry, Mines and Agriculture , Dr. Weyinmi Eribo called for implementation of policies surrounding women.

“So we know in Nigeria we have fantastic policies across but it’s always implementation and how do we want to address them so that we have a clear pathway in addressing this issue.

“So the Women Empowerment policy actually gives us a framework that makes it easier for us to stop working in silos but then everybody has a clear direction as to where we are going. So what are these implementation gaps that we see right? The first one would be lack of knowledge on where to get funds.”

Earlier, Eyong said 38.4 million female entrepreneurs in the country can do more if barriers are removed for them.

She said the figure which amounts to 32.9 percent of business ownership still falls within the nano and micro level businesses in the country. 

According to her, “This commendable feat is not without its additional challenges such as gender stereotypes, childbearing / rearing responsibilities and societal expectations which further constrain the entrepreneurial activities of women.

“Despite all the challenges female entrepreneurs face in the country, their current contributions to the economy cannot be overlooked as they create jobs, reduce poverty, raise other entrepreneurs, develop skills and further build resilience.

“These contributions can continuously be achieved on a larger scale if unfavorable environmental circumstances and barriers can be addressed to increase their capabilities. Which can be achieved through targeted support and inclusive policies that are domesticated.”