Private Sector Unveils Nigeria Gender Country Programme To Unlock $22.9bn In Economic Growth

Nigeria’s private sector has launched the Nigeria Gender Country Programme (NGCP) to position gender inclusion as a driver of investment and competitiveness.

The initiative, led by the International Finance Corporation (IFC), a member of the World Bank Group, in partnership with Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI), aligns advisory expertise, funding and partnerships to strengthen women’s representation in leadership, improve access to quality employment, and expand access to finance, technology and markets for women and women-led businesses.

Building on the CEO Roundtable held in June and the progress achieved through Nigeria2Equal, IFC’s earlier initiative, NGCP now moves into implementation, with participating organisations expected to adopt practical, measurable gender-smart business practices.

The economic case is significant, with the program underpinned by research showing that closing gaps in women’s leadership, employment and entrepreneurship could generate an estimated $22.9 billion in additional economic output annually, reinforcing the economic case for stronger private-sector action on gender inclusion.

Speaking at the launch, the Group chairman of NGX Group, Alhaji Umaru Kwairanga, said the program represents a shift from dialogue to action, describing women’s economic participation as an economic imperative rather than a social aspiration.

“Through the Nigeria Gender Country Programme, we are creating a practical framework that will help businesses strengthen leadership, expand opportunity and unlock the inclusion dividend for Nigeria’s economy,” he said.

Representing the Governor of Lagos State, Babajide Sanwo-Olu, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, reaffirmed the state’s commitment to creating an enabling environment for women-led enterprises and strengthening inclusive economic development.

Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, called for stronger collaboration among the government, development institutions, and the private sector to accelerate women’s economic empowerment and expand opportunities for women across key sectors of the economy.

The division director for West and Central Africa, Olivier Buyoya, said the programme reflects IFC’s commitment to helping businesses translate gender inclusion into stronger competitiveness and sustainable growth.

Speaking on behalf of the director-general of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, the Commission’s executive commissioner, Legal and Enforcement, Frana Chukwuogor, highlighted the importance of the capital market in advancing inclusive growth, improving access to finance and supporting women-led businesses.

“The Commission welcomes the Nigeria Gender Country Program as an important platform for deepening collaboration, innovation and knowledge sharing in support of inclusive market development. We commend the IFC for its leadership in promoting inclusive private sector development globally, and for its partnership with Nigeria in strengthening our financial markets,” she said.

Reflecting on NGX Group’s role as a strategic partner of the NGCP, Group managing director/chief executive officer of NGX Group, Temi Popoola, represented by the Group chief strategy officer, Jumoke Olaniyan, said the program builds on the momentum created through Nigeria2Equal and now provides a platform for practical action.

“At NGX Group, our role extends beyond facilitating capital formation. We are equally committed to promoting the standards, practices and partnerships that help businesses grow responsibly and compete successfully,” he said.