Research by the Enhancing Financial Innovation and Access (EFInA), has
showed worrying challenges facing Nigerian women as they strive to partake in nations’ building.
The research was commissioned by the development Research and Project Centre (dRPC) under the Partnership for Advancing Women in Economic Development (PAWED) project and funded by the Bill & Melinda Gates Foundation.
The national coordinator, PAWED coalition, Barrister Vera Ndanusa, in a statement, said the research was commissioned to assess women economic empowerment in Nigeria focusing on women’s access and use of financial services as well as highlighting opportunities for women’s economic empowerment.
“The scope of women’s economic empowerment in this report is on , socio economic activities (income, education & technology use), access to resources (physical, social and financial), access to and use of financial services, financial health and capability, autonomy, and participation in community (labour, political etc)” She said.
She added that the insights shared in the report is based on secondary data analysis using the Access to Financial Services in Nigeria 2020 survey dataset, desk research, and key informant interviews with women economic collective leaders across interest states in Nigeria.
According to Ndanusa, the research findings shows that about 51 per cent of adult women have attained secondary education. Women who live in urban areas have more chances at attaining secondary education. She added that women were less likely to have the necessary knowledge/skills to plan, budget finance, and choose financial products to satisfy their needs.
‘’Women generally lack knowledge of the financial options available to them, and the Nigerian women are predominantly business owners and significantly under-represented in formal salaried wage employment’’ She added.
Accordingly, the researchers recommends that government should enforce policies and social protection systems for women like pensions, unemployment benefits, maternity protection, and equal pay, revise, adopt, and enforce legislation that mandates equality of rights and opportunities for women.
It also recommends implementation of policies that encourage balance between working life and family life; investment in the social care infrastructure could entail providing public services directly or subsidising and regulating the provision of private care, and enhance women’s access to productive assets, including property and financial and digital assets; and tackling discriminatory social norms.
PAWED is organising a webinar on Tuesday July 20th, to bring stakeholders across the country to discuss the findings and discuss ways to implement some of the findings to improve access to finance for Nigerian women.
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