In a groundbreaking announcement, the National Information Technology Development Agency (NITDA) has revealed that younger female entrepreneurs are outpacing their male counterparts in terms of education. This exciting news was shared by NITDA’s Director-General, Kashifu Inuwa, during the Women Entrepreneurs and Executives in Tech Summit (WEETS) 2024 in Lagos. Let’s delve into the implications of this finding and explore how women are shaping the future of business in Nigeria.

The Education Gap: Women Leading the Way

According to recent reports highlighted by Inuwa, a significant 52.2% of younger female entrepreneurs hold at least a bachelor’s degree. In contrast, only 42.8% of their male counterparts can say the same. This educational advantage is pivotal in understanding the dynamics of entrepreneurship in Nigeria today.

Key Statistics:

• 39% of workers in Science, Technology, Engineering, and Mathematics (STEM) are women.
• 46% of startups in Nigeria are led by females, reflecting a steady increase from 39% in the previous year.
• 43% of all businesses in Nigeria are female-led.

These numbers paint a powerful picture of the growing role women play in the Nigerian economy, particularly in the tech sector.

Empowering Women in Tech: The Role of NITDA

Inuwa emphasized the importance of supporting women entrepreneurs, stating that they are crucial for job creation, innovation, and poverty alleviation.

NITDA’s Initiatives:

• Digital Literacy for All (DL4All): This initiative aims to make Nigeria a digitally empowered nation by equipping women with essential digital skills.
• 40% Women Participation Goal: NITDA’s Strategic Roadmap and Action Plan 2024 – 2027 (SRAP 2.0) aims for 40% women’s participation in all capacity and skills development initiatives.

These programmes are designed to ensure women have the tools and resources necessary to thrive in the digital economy.

The Future of AI and Women Entrepreneurs

Artificial Intelligence (AI) is revolutionising the business landscape, and women have a significant role to play. The Global Gender Gap Report of 2023 indicates that women make up 30% of the global AI workforce, a number that highlights the potential for growth in this sector.

Why This Matters:

• AI Market Growth: The AI market is projected to grow to $407 billion by 2027, up from $86.9 billion in 2022. This growth represents massive opportunities for women entrepreneurs.
• Empowerment Through Skills: By gaining relevant skills in AI and technology, women can significantly impact their communities and the economy.

Bridging the Digital Divide: The Role of WEETS

The Women Entrepreneurs and Executives in Tech Summit (WEETS) serves as a vital platform for empowering women in the tech space. This year’s theme, “AI Leadership: Navigating The Future of Women in Business,” underscores the importance of harnessing AI to enhance business opportunities.

Highlights from the Summit:

• Mentorship and Skills Development: The WEETS Foundation focuses on providing women with advanced digital skills and mentorship to help them succeed in tech.
• A Call to Action: Convener Ms Ugochi Emmanuel stressed the need for women to seize opportunities in AI and business, challenging them to think big and build impactful partnerships.

The Path Forward: What Can We Do?

As we reflect on these findings, it’s crucial to take actionable steps to support female entrepreneurs. Here’s how we can contribute:

• Promote Education: Encourage young women to pursue degrees in STEM fields.
• Support Female-Led Startups: Invest in or collaborate with female entrepreneurs to foster innovation.
• Engage in Community Initiatives: Participate in or organise workshops that empower women with digital skills.

Conclusion

The rise of younger female entrepreneurs in Nigeria, marked by their higher education levels compared to males, is a trend that must be celebrated and nurtured. By supporting women in tech and fostering an environment of innovation and inclusion, we can help shape a more dynamic and equitable future.

As NITDA continues to champion the inclusion of women in the digital economy, it’s up to all of us to play our part in this transformation. The future is bright, and together, we can make a lasting impact.