By ebosele@hotmail.com –
The Lagos State Government, in partnership with the International Finance Corporation (IFC), the Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI), has officially launched the Nigeria Gender Country Programme (NGCP), a landmark initiative aimed at accelerating gender equality and promoting inclusive economic growth across Nigeria’s private sector.
City Business News reports that the programme, unveiled at the Continental Hotel, Victoria Island, Lagos, is anchored on three strategic priorities: increasing women’s representation in leadership, improving access to quality employment, and expanding access to productive assets such as finance, technology and markets.
Representing Governor Babajide Sanwo-Olu at the event, the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose-Medebe, reaffirmed the Lagos State Government’s commitment to women’s economic empowerment, stressing that gender inclusion is not merely a social aspiration but an economic necessity.
Speaking on behalf of the governor, she highlighted the state’s proactive initiatives, including the launch of the Women Economic Empowerment (WEE) Policy Roadmap in July 2025.
The roadmap focuses on five key areas: agriculture, entrepreneurship, the traditional labour market, emerging industries, and education and skills acquisition.
Sanwo-Olu noted that the government has backed its policies with concrete action by approving a ₦5 billion Micro, Small and Medium Enterprises (MSME) fund targeted at women traders, complemented by another ₦5 billion from the Bank of Industry, creating a ₦10 billion zero-interest financing pool.
The governor also announced the establishment of a Gender Desk within the Lagos State Public Procurement Agency to promote women’s participation in public procurement opportunities.
“I want the private sector to embrace gender-smart strategies not merely as compliance requirements but as pathways to competitive advantage. Financial institutions must develop gender-responsive financial products, while business leaders should integrate gender inclusion into their organisational strategies with measurable indicators for accountability,” he said.
He further noted that women currently constitute more than 30 per cent of Lagos State’s cabinet, describing the administration’s commitment to inclusion as deliberate and sustainable.
Looking ahead, Sanwo-Olu expressed optimism that Nigeria could harness its demographic advantage by 2030 through stronger collaboration among government, development partners and the private sector.
“By 2030, Nigeria has the opportunity to build a more inclusive economy. Lagos State remains committed to partnering with the IFC, NGX Group, LCCI and other stakeholders to ensure the success of this programme,” he stated.
Speaking at the launch, IFC Division Director for Nigeria and Central Africa, Olivier Buyoya, stressed the need to unlock the country’s full economic potential by supporting women entrepreneurs and professionals.
“Too many women continue to face difficult business realities. Women’s participation creates a multiplier effect across the economy, and supporting them is critical to sustainable growth,” Buyoya said.
He added that the Nigeria Gender Country Programme would strengthen partnerships, institutional systems and corporate leadership needed to drive long-term gender inclusion across Nigerian businesses.
World Bank Country Director for Nigeria, Matthew Verghis, reaffirmed the institution’s support for the initiative, describing it as an important investment in people, economic development and infrastructure.
He emphasised that sustainable growth would also require Nigeria to strengthen its resilience to climate change while creating broader opportunities for women to contribute meaningfully to national development.
Director-General of the Securities and Exchange Commission (SEC), Dr. Emomotimi Agama, described gender inclusion as a strategic driver of productivity, innovation and sustainable economic growth.
According to him, closing gender gaps could unlock billions of dollars in economic value while improving business performance and national competitiveness.
He disclosed that the SEC is strengthening investor confidence by encouraging gender-inclusive governance structures among listed companies and promoting collaboration to expand women’s economic opportunities.
During a plenary session, former Minister of Communication Technology and Senior Partner at TLcom Capital LLP, Dr. Omobola Johnson, challenged stakeholders to recognise the untapped value of women in leadership.
She argued that Nigeria loses enormous economic potential when qualified women are excluded from decision-making positions, describing it as a poor return on investment in human capital.
Chairman of Ecobank Nigeria, Mrs. Adesola Bola, also called for greater inclusion of women in the economy, identifying unconscious bias and limited access to finance and collateral as major barriers preventing women from realising their full potential.
Providing an update on the programme’s progress, IFC Gender Specialist, Ms. Adaorie Udechukwu, revealed that participation in the Nigeria Gender Programme has expanded from 18 companies to over 200 companies, reaching about 200,000 participants across various supply chains.
Representing the Minister of Women Affairs and Social Development, Hajia Aishatu Digili disclosed that 253 businesses have been established under government-supported initiatives, with 183 owned by women.
She also announced the institutionalisation of a Gender Desk for public procurement opportunities, describing inclusion as not only an economic issue but a national development priority.
