ABUJA: The Federal Government has raised concerns over the limited access to finance facing women entrepreneurs in Nigeria, revealing that more than 80 per cent of women-owned businesses operate without formal credit, a situation it says continues to constrain economic growth and enterprise expansion.
The Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, disclosed this at the grand finale of the “Give-to-Gain” Summit held in Abuja to commemorate the 2026 International Women’s Month.
According to her, despite women making up over half of Nigeria’s population and contributing more than 40 per cent of the country’s agricultural labour force, they remain largely excluded from access to structured financing, land ownership, and broader economic opportunities.
She noted that a significant proportion of women-led businesses operate within the informal sector, making it harder for them to access credit facilities from formal financial institutions.
Also speaking at the event, the Director-General of the Securities and Exchange Commission, Emomotimi Agama, represented by Executive Commissioner Operations, Bola Ajomale, highlighted the need to integrate more women into Nigeria’s capital market.
He explained that although Nigerian women are highly active economically—owning about 41 per cent of micro-businesses and numbering an estimated 23 million entrepreneurs—they remain largely excluded from investment platforms that support wealth creation.
“The issue is not whether women are economically active, but whether they can transition from earning income to building sustainable wealth,” he said.
Agama stressed that the capital market serves as a critical bridge between income generation and long-term wealth, enabling businesses to raise capital while allowing individuals to build assets over time.
While acknowledging that female financial inclusion improved to about 70 per cent in 2023, the SEC warned that the gender gap has paradoxically widened, suggesting that progress for women is not keeping pace with overall financial inclusion rates.
The disparity is even more pronounced in northern Nigeria, where women, particularly farmers and dependents, face higher levels of financial exclusion due to structural and socio-economic barriers.
Agama further pointed to the underrepresentation of women in leadership within Nigeria’s corporate space, noting that only about seven per cent of chief executive officers of listed companies are women.
He called on policymakers, investors, and corporate leaders to take deliberate steps to improve gender inclusion through targeted financial products, supportive regulations, and stronger investor protection frameworks.
Stakeholders at the summit agreed that Nigeria’s ambition of building a $1 trillion economy cannot be achieved without fully integrating women into the financial system.
“The full participation of Nigerian women in the capital market is not just a social goal—it is an economic necessity,” Agama said.
Experts at the event advocated for gender-focused reforms, including easier access to credit, improved financial literacy, and policies that encourage women’s participation in formal economic structures, as part of broader efforts to unlock the country’s growth potential.
