Nigeria targets $1tn economy through women's economic inclusion

Nigeria is prioritizing women’s economic inclusion as a core strategy to reach its $1 trillion economic goal. At the Second National Gender Inclusion Conference in Abuja, Vice President Kashim Shettima emphasized that the nation’s economic ambitions cannot be met if half the population faces structural barriers to finance, markets, and skills.

Data presented at the conference highlighted a significant gender gap in financial inclusion, noting that only 47 percent of Nigerian women hold formal financial accounts compared to 58 percent of men. To address this, the Minister of Women Affairs and Social Development, Hajiya Imaan Sulaiman-Ibrahim, challenged banks and fintech companies to help unlock an estimated $14.8 billion annual gender financing opportunity by redesigning lending models that currently rely heavily on collateral.

The federal government has unveiled four strategic platforms to bridge these gaps and move toward an ‘architecture of delivery.’ These initiatives aim to connect women and youth to capital and emerging opportunities. Additionally, the Securities and Exchange Commission is reviewing capital market entry criteria to improve accessibility for women and small businesses.