Gender equity is no longer merely a moral cause in corporate Nigeria, it has become central to governance, profitability, and long-term business resilience, according to Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group), Temi Popoola.
Speaking at the 2025 WIMBIZ Annual Conference, Popoola highlighted a historic milestone in Nigeria’s corporate landscape: for the first time, none of the NGX-30 companies has an all-male board. He described this as a reflection of growing gender balance across the country’s largest listed firms.
“Inclusion is a fundamental pillar of strong governance and a driver of superior business outcomes,” Popoola said. “Gender-diverse boards deliver better oversight, stronger ethical judgment, and greater investor confidence.”
His remarks aligned with the keynote address by Dr. Arunma Oteh, Chairperson of the Royal African Society and Academic at the University of Oxford, who urged women to take greater ownership of Nigeria’s progress. “Female participation is critical, and smart, for the country,” she stated. “Let us own Nigeria’s journey and do our best to safeguard its legacies.”
Popoola noted that gender inclusion must begin at the foundation. “It starts from the entry level,” he said. “When we give women opportunities early, we empower them to grow into leaders in their fields. Leadership is built, not bestowed.”
To this end, the NGX Group is advancing EquipHER, an initiative by NGX Regulation Limited designed to equip women in the capital market through education, mentorship, and active participation. The programme enhances financial literacy, investor protection, and confidence in wealth creation — helping women progress from first-time investors to market leaders.
NGX has made gender inclusion a strategic priority, aligning with the UN Sustainable Stock Exchanges Initiative and UN Women’s Empowerment Principles. It is also the first exchange group to earn the Economic Dividends for Gender Equality (EDGE) certification and actively participates in the Ring the Bell for Gender Equality campaign alongside global exchanges, UN Women, and the UN Global Compact.
Through its partnership with the International Finance Corporation (IFC) under the Nigeria2Equal programme, NGX has helped 18 listed companies close gender gaps across leadership and workforce levels — positively impacting more than 49,000 employees.
This structured approach, coupled with initiatives like EquipHER, has produced measurable outcomes. The 2025 PWR Advisory NGX-30 Board Gender Diversity Scorecard shows that women now hold 31.1 per cent of board seats among the top 30 listed companies, up from 29.7 per cent in 2024. Additionally, five firms are now led by female chief executives, the highest number on record.
Looking ahead, Popoola reaffirmed NGX Group’s commitment to collaborating with regulators, partners, and stakeholders to strengthen disclosure standards, expand leadership pipelines, and embed gender equity across corporate Nigeria.
“Our goal is simple,” he concluded. “One day, women’s inclusion will no longer be a special initiative — it will simply be how corporate Nigeria operates.”
