EU, Investment Experts Decry Poor Funding For Women-led Green Businesses

The European Union (EU) and investment experts in Nigeria have expressed concern that businesses with the potential to deliver real climate impact and strengthen the country’s green economy have continued to face major barriers in accessing finance.

The concern was raised at a forum organised by Women Leading Climate Action (WLCA), in Abuja, where participants noted that despite Nigeria mobilising an estimated $2.5 billion annually in climate finance, much of the capital fails to reach early-stage green enterprises—especially those led by women.

Speaking at the event, the EU Ambassador to Nigeria and ECOWAS, Gautier Mignot, said the conversation around green growth cannot stop at mobilising funds but must include connecting capital to entrepreneurs who are already building climate solutions but remain underserved.

“Green economy is not just about mobilizing finances but connecting such capital to the right entrepreneurs. Failing to do this risks building a green economy that is innovative but not inclusive,” Mignot said.

He emphasised that Nigerian women were already at the heart of the green and informal economy, representing over 70 per cent of the informal sector and up to 70 per cent of smallholder agricultural labour. Yet, he noted, women remain largely absent from decision-making spaces and investment pipelines that shape the green transition.

WLCA Founder and convener of the dialogue, Amanda Archibong-Doukouré, also highlighted the scale of the imbalance. She said Nigerian women dominate last-mile distribution, agro-processing and clean energy adoption, yet struggle with a $158 billion financing gap, even as almost half of the country’s micro-enterprises are owned by women.

She said the issue was not only a lack of capital but misaligned capital.

“Nigeria mobilises about $2.5 billion in climate finance annually, but most of this funding is not structured for early-stage businesses. It requires large ticket sizes and strong collateral conditions that exclude the women already driving climate solutions,” she said.

Archibong-Doukouré added that there is a $320 billion global credit gap for women-led businesses, warning that Nigeria risks “funding climate ambition without funding climate reality” unless financing systems become more inclusive.

Also speaking, former Vice President of the African Development Bank, Cecilia Akintomide, said Nigeria has shown strong investor appetite for green finance, citing several oversubscribed government issuances. However, she noted that women are not benefiting adequately from these opportunities.

She outlined key barriers, including limited access to education, financing structures designed for large-scale projects, and heavy concentration of funding in sectors where women are largely absent.

The event, tagged WLCA Green Economy Dialogue, explored pathways to unlock finance and trade for women-led green enterprises, spotlighting innovators driving climate action and sustainable growth. WLCA noted it had held two earlier sessions with ecosystem players to deepen understanding of the constraints facing women in the green economy.