Empowering Women Entrepreneurs Key To Economic Growth – Adeosun

Supporting women-led businesses could be the fastest way to boost Nigeria’s economy, former Finance Minister Kemi Adeosun said on Thursday. Speaking at an International Women’s Day event organised by the Development Bank of Nigeria (DBN),

She said female entrepreneurs represent a powerful but underutilised economic force, particularly within micro, small and medium enterprises (MSMEs).

Adeosun called on financial institutions and the private sector to recognise the profitability of women-led businesses, noting that visibility and access to finance could unlock job creation and wealth distribution. “If 1,000 women each employ one person, that alone creates 1,000 jobs,” she said.

She credited DBN with filling a critical financing gap for SMEs despite Nigeria’s history of underperforming development banks.

“DBN has proven effective in providing practical financial support to entrepreneurs, particularly women, and has built a reputation for strong governance and operational success.”Adeosun said

Speaking on behalf of DBN’s Managing Director, Tony Okpanachi, Executive Director Ijeoma Ozulumba said gender inclusion is central to the bank’s mandate. “From inception to December 2025, DBN has disbursed over ₦350 billion to more than 774,000 women-led businesses representing 77 per cent of its beneficiaries,” Ozulumba said

Ozulumba highlighted DBN’s AMPLIFI strategy, designed to ensure women-led businesses gain access to finance, markets and opportunities.

She noted that development partner Agence Française de Développement contributed €25 million to women-led businesses, alongside grants and programmes such as the six-month Women Investment Readiness Accelerator Programme, which strengthen governance and investment readiness.