The Lagos State Government has called for increased capital and coordinated support from financial institutions, private equity firms, development partners and other stakeholders to help women-led businesses overcome funding barriers and scale their operations.\n<\/p>\n
Governor Babajide Sanwo-Olu made the call at the 2026 Women in Manufacturing, Agribusiness and Nutrition (W.O.M.A.N.) conference organised by Alitheia Capital in Lagos. He was represented at the event by the Commissioner for Agriculture and Food Systems, Abisola Olusanya.\n<\/p>\n
Sanwo-Olu said women-led businesses in manufacturing, agribusiness and nutrition play an important role in job creation, food security, local value chains and industrial development. He noted that inclusive economic growth would remain difficult if businesses continued to face barriers to finance, infrastructure, knowledge and markets.\n<\/p>\n
According to him, closing the funding gap requires a collective effort involving government, financial institutions, private equity and venture capital firms, development partners and the entrepreneurs themselves.\n<\/p>\n
He also stressed that access to capital must be accompanied by stronger business systems, including good governance, operational efficiency, expertise, transparency and access to markets.<\/p>\n
\u201cCapital is important, but capital must be supported by expertise, sound governance, operational efficiency, access to markets and the capacity to adapt to a rapidly changing global economy,\u201d the governor said.\n<\/p>\n
The governor highlighted some Lagos State initiatives supporting small businesses and agricultural value chains, including the Lagos State Employment Trust Fund (LSETF), the Eko Hub shared infrastructure model and the Lagos Fresh Food Hub.\n<\/p>\n
The two-day W.O.M.A.N. 2026 conference brought together more than 300 screened women-led businesses operating across manufacturing, agribusiness and nutrition, alongside investors, financial institutions, government agencies and development partners.\n<\/p>\n
Managing Partner and Co-Founder of Alitheia Capital, Tokunboh Ishmael, said most of the participating businesses were already generating revenue and had growth potential but had not been able to access formal capital.\n<\/p>\n
The programme connected participating businesses with investors, lenders, market actors and technical experts, while also providing support in areas such as investment readiness, financial management, governance, capital structuring, energy efficiency and cost reduction.<\/p>\n
W.O.M.A.N. 2026 also included digital capacity-building through Google Hustle Academy and continued business development support through Alitheia Capital\u2019s Nzinga platform. The platform is designed to help women-led MSMEs strengthen their financial management, investment readiness, market access, digital skills and operational capacity.\n<\/p>\n
Alitheia Capital said it would track the progress of participating businesses over the following 12 months, including indicators such as capital raised, revenue growth and jobs created, providing a basis for assessing the outcomes of the programme.\n<\/p>\n
For women-led MSMEs, the focus on finance, market access, operational capacity and investment readiness reflects the need for more than one-off funding to help viable businesses move towards sustainable growth and greater participation in Nigeria\u2019s productive economy.\n<\/p>\n