Senior government officials, regulators, development finance institutions, and business leaders have launched the Nigeria Gender Country Program (NGCP). This initiative signals a coordinated effort to position gender inclusion as a key driver of business competitiveness, investment, and long-term economic growth in Nigeria.
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), the NGCP aligns advisory expertise, funding, and partnerships. Its goal is 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.
Economic Imperative for Gender Inclusion
Building on the CEO Roundtable held in June and the progress achieved through Nigeria2Equal, IFC’s earlier initiative, NGCP is now moving into implementation. Participating organisations are expected to adopt practical, measurable gender-smart business practices.
The economic case for the program is significant, 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. This reinforces the economic case for stronger private sector action on gender inclusion.
Stakeholder Perspectives and Commitments
Speaking at the launch, the Group Chairman of NGX Group, Alhaji (Dr.) Umaru Kwairanga, stated that the program represents a shift from dialogue to action. He described women’s economic participation as an economic imperative rather than a social aspiration, emphasizing it as “an investment in productivity, a catalyst for innovation and a driver of sustainable economic growth.”
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. 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.
Olivier Buyoya, Division Director for West and Central Africa at IFC, delivered remarks reflecting IFC’s commitment to helping businesses translate gender inclusion into stronger competitiveness and sustainable growth. He highlighted that “Economies grow faster and businesses perform better when women have equal opportunities to participate, lead, innovate and succeed.”
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, underscored the importance of the capital market in advancing inclusive growth. She welcomed the NGCP as an important platform for deepening collaboration, innovation, and knowledge sharing in support of inclusive market development.
Reflecting on NGX Group’s role as a strategic partner, Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, represented by the Group Chief Strategy Officer, Jumoke Olaniyan, noted that the program builds on the momentum created through Nigeria2Equal. He added that NGX Group is committed to promoting standards, practices, and partnerships that help businesses grow responsibly.
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; and Director General of the Lagos Chamber of Commerce and Industry, Dr. Chinyere Almona, among others.
Implementation and Participation
As NGCP moves into its implementation phase, private sector organisations have begun signing on to the program. They are committing to one or more of its strategic priority areas based on their organisational goals and readiness. Companies interested in participating can learn more and register their interest by visiting www.ifc.org/ngcp.
