By Our Correspondent
National News – A new report has revealed a major financing gap affecting women-owned businesses in Nigeria, despite women controlling nearly 40 per cent of enterprises across the country.
The Gender Equity and Social Inclusion Baseline Report, unveiled in Lagos by the Impact Investors Foundation, showed that female entrepreneurs still receive only a small portion of formal credit from financial institutions.
The report highlighted that only 23 per cent of Nigerian women currently own bank accounts, compared to 77 per cent of men.
According to the foundation, this imbalance continues to limit women’s participation in business growth, investment opportunities, and economic development nationwide.
Chief Executive Officer of the Impact Investors Foundation, Etemore Glover, said the report was designed to expose structural barriers in the financial system and help stakeholders create measurable solutions.
He explained that women-owned enterprises contribute significantly to the economy but remain underserved when it comes to accessing loans and institutional funding.
The event, themed “From Commitment to Action: Strengthening Inclusive Gender Lens Investment for Nigeria’s Growth,” also revealed that only $1.25bn of the targeted $8bn inclusive capital investment has been mobilised so far, leaving a funding gap of about $6.75bn by 2035.
Former Governor of the Central Bank of Nigeria and Emir of Kano, Khalifa Sanusi II, criticised political leaders for failing to prioritise women-focused economic policies during election campaigns.
He argued that women’s empowerment should go beyond token support and become part of long-term national development planning.
Business leader Ibukun Awosika also stressed that gender inclusion should be treated as an economic strategy rather than a charity issue.
She noted that improving women’s access to finance could strengthen national productivity and create scalable economic growth.
To address the challenge, the Impact Investors Foundation introduced physical and virtual investment “Deal Rooms” aimed at connecting investors with women-led businesses ready for expansion.
