…As NDDC, Society of Ladies Accountants of Nigeria unlock wealth in feminine entrepreneurs
About 12.8million or 80 p.c companies owned by ladies in Nigeria fail within the first 5 years, in accordance with 2021 information. This can be greater immediately.
Ladies additionally personal at the least 40percent of small and medium scale enterprises (SMEs) in Nigeria the place Nigeria had over 40m by 2021.
Now, the Society of Ladies Accountants of Nigeria (SWAN) in Port Harcourt District and Society says they know why companies owned by ladies fail and the options to this. SWAN in Port Harcourt is led by Isioma Onwo, a fellow the Institute of Chartered Accountants of Nigeria (ICAN).
SWAN stated they did a research and located seven key elements that crash SMEs, particularly those run by ladies. Probably the most evident, they stated, is failure to separate private funds from that of the enterprise. One other is lack of use of financial institution accounts in working all method of companies. In addition they recognized lack of guide holding and file holding, and plenty of extra.
To sort out this, SWAN partnered with the Niger Delta Improvement Fee (NDDC) to show this example round within the oil area.
They thus organised a one-week coaching scheme for 180 feminine entrepreneurs for specialised coaching which handled the above issues together with use of social media as vital instruments in fashionable companies.
The feminine entrepreneurs have been stated to be additionally put by means of the criticality of books and data which is systematic day by day recording of economic transactions.
Different vital areas have been tax consciousness, file holding and submitting, instruction to accounting purposes (Excel and Fast Books), inner management mechanisms, and monetary literacy.
The ladies have been additionally launched to particular financial institution amenities resembling Constancy Financial institution’s ‘FundHer’ scheme.
Talking concerning the empowerment and coaching scheme, Samuel Ogbuku, the managing director of NDDC, emphasised the significance of economic literacy and capacity-building for girls entrepreneurs, affirming that empowering ladies interprets to empowering households and the broader nation.
He urged the individuals to take the coaching severely for enterprise progress and sustainability in order to justify the funding of their careers.
Talking additionally on the commencement ceremony, the MD, who was represented by Winifred Madume, director, agric/fisheries, hailed the technical enter and mentorship that the chartered accountants introduced in grooming a brand new technology of girls entrepreneurs within the Niger Delta. The MD stated the scheme introduced out the dedication of the NDDC to empower ladies to maintain SMEs consistent with the NDDC’s mission of inclusive growth.
He stated feedbacks confirmed readiness of the beneficiaries to develop after the impactful coaching. He declared the readiness of the Fee to do extra with SWAN.
Throwing some gentle on the scheme, Onwo (the SWAN chairperson) instructed BusinessDay: “We’ve got simply concluded the commencement ceremony for a coaching programme that began since Monday, September 22, 2025 whereby the Niger Delta Improvement Fee (NDDC) partnered with the Society of Ladies Accountants of Nigeria, Port Harcourt Chapter (SWAN PH) to coach Niger Delta ladies entrepreneurs within the following areas; Financial institution and Social Media Account Opening, Bookkeeping, Accounting purposes resembling Excel and QuickBooks, Inside Management, Submitting, Tax Consciousness and Monetary Literacy.
These expertise are anticipated to assist them preserve correct data of their companies to allow them to monitor their companies and understand how effectively their companies are doing. It can additionally assist them in making extra knowledgeable choices regarding their companies.
On apprehension of SMEs and girls entrepreneurs over file holding for worry of the tax grasp, Onwo, who holds a doctorate diploma, stated: “One of many coaching subjects was on Tax consciousness and why you will need to pay taxes because the authorities helps to supply an enabling atmosphere for companies to function in. The Authorities has additionally created loads of tax exemptions for SMEs and low-income earners.”
On what SWAN got down to obtain, she stated it was to cut back excessive mortality price of women-run companies. “By means of our analysis, we came upon that loads of small and medium sized companies fail simply due to lack of correct file holding. SWAN PH thought it clever that ladies entrepreneurs be educated to allow them to do enterprise extra professionally and profitably. As an illustration, loads of the individuals instructed us they didn’t even know they have been supposed to maintain their private funds separate from their enterprise funds.”
She thanked God and the NDDC for the success of the programme. “We advise entrepreneurs to concentrate to bookkeeping to help the sustainability of their companies.”
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One of many beneficiaries, Ukaegbu Chizaram, talking for the group on the commencement ceremony, poured big appreciation on the NDDC for empowering ladies entrepreneurs within the area. She additionally counseled SWAN and ICAN for delivering affect within the coaching, saying entrepreneurship has turn into an achievable goal.
The occasion was seen by many as a significant breakthrough in empowerment of girls entrepreneurs within the Niger Delta. The occasion that befell in Port Harcourt within the week noticed 180 ladies graduate from a scheme initiated and executed by a partnership between the NDDC and SWAN, Port Harcourt District and Society.
The one-week coaching which started on Monday, September 22, 2025, with a gap ceremony graced by the topmost administration personnel of the NDDC ended with a commencement ceremony on Thursday, September 25, 2025, on the Horlinks, one of many topmost occasion centres in Port Harcourt positioned near the Marine Base space of the Backyard Metropolis.
Chiedu Ebie (NDDC chairman), Samuel Ogbuku (the NDDC MD) and Boma Iyaye (NDDC Govt Director, Finance & Administration), with Victor Antai (Govt Director, Initiatives), joined Ifedayo Agbegunde (Govt Director, Company Providers), to place in voices to make sure that the mission was a hit.
Their counterparts from ICAN rolled out solidarity to Isioma Onwo, seventh chairperson of the SWAN Port Harcourt District and Society, in executing the modern programme for a brand new technology of competent feminine entrepreneurs within the oil area.
Hopes have been excessive that the occasion might proceed to increase such empowerment to different entrepreneurs particularly ladies within the oil scale back in order to cut back dependency on paid jobs or oil-related economic system. That is anticipated to be achieved by lowering the excessive mortality price of SMEs.
