Senior government officials, regulators, development finance institutions and business leaders have launched the Nigeria Gender Country Program (NGCP), signalling a coordinated push to position gender inclusion as a driver of business competitiveness, investment and long-term economic growth.
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 US$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 (Dr.) 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. “Advancing women’s economic participation is no longer simply a social aspiration; it is a business imperative, an investment in productivity, a catalyst for innovation and a driver of sustainable economic growth. Through the Nigeria Gender Country Program, we are creating a practical framework that will help businesses strengthen leadership, expand opportunity and unlock the inclusion dividend for Nigeria’s economy.”
Representing the Governor of Lagos State, His Excellency Babajide Sanwo-Olu, the Honourable 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, while the Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, represented by Aishatu Digili, called for stronger collaboration between government, development institutions and the private sector to accelerate women’s economic empowerment and expand opportunities for women across key sectors of the economy.
Delivering IFC’s remarks, Olivier Buyoya, Division Director for West and Central Africa, said the program reflects IFC’s commitment to helping businesses translate gender inclusion into stronger competitiveness and sustainable growth. “Creating more and better jobs is central to IFC’s mission across Africa. Economies grow faster and businesses perform better when women have equal opportunities to participate, lead, innovate and succeed. Through the Nigeria Gender Country Program, we are bringing together the private sector, capital markets and development partners to help companies turn this opportunity into stronger business performance, greater competitiveness and more inclusive growth. We look forward to working with Nigerian businesses to unlock the full economic potential of women as a driver of Nigeria’s future prosperity,” he said.
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. Through initiatives such as this, we seek to ensure that companies have access not only to capital, but also to the knowledge, networks and collaborative platforms required to build stronger institutions,” he said.
The launch also featured contributions from World Bank Country Director for Nigeria, Mathew Verghis; Chairman of Ecobank Nigeria, Bola Adesola; Senior Partner at TLcom Capital, Dr. Omobola Johnson; Chief Executive Officer of NGX Regulation Limited, Olufemi Shobanjo; Director General of the Lagos Chamber of Commerce and Industry, Dr. Chinyere Almona; and representatives of UN Women, reflecting broad support across government, development institutions, the private sector and international partners.
With chief executive officers, board members, policymakers, investors, capital market stakeholders, members of the diplomatic corps and the media in attendance, the event reinforced growing private sector recognition of gender inclusion as a driver of resilience, enterprise value and economic competitiveness.
As NGCP moves into the implementation phase, private sector organisations have begun signing on to the Nigeria Gender Country Program, committing to one or more of its strategic priority areas based on their organisational goals and readiness. Companies interested in participating can learn more about the program and register their interest by visiting www.ifc.org/ngcp