Nigeria Launches Gender Program to Unlock $22.9bn in Output
A new private sector-led initiative aims to add $22.9 billion to Nigeria’s annual economic output by implementing measurable gender-inclusion practices across corporate leadership and finance.
The International Finance Corporation, Nigerian Exchange Group and the Lagos Chamber of Commerce and Industry have launched the Nigeria Gender Country Program to integrate women into the core of private sector growth. The initiative targets an estimated $22.9 billion in additional annual economic output by closing specific gaps in female entrepreneurship, employment and corporate leadership.
Building on the earlier Nigeria2Equal advisory project and a June CEO Roundtable, the new program requires participating companies to adopt concrete, measurable gender-smart business practices. Organisations are expected to commit to distinct strategic priorities based on their readiness. This shifts the Nigerian market beyond theoretical dialogue and toward structural changes in how capital and leadership opportunities are distributed.
For investors and market regulators, the program represents a concerted effort to tie gender inclusion directly to enterprise value, market resilience and long-term competitiveness. The Securities and Exchange Commission endorsed the framework as a critical platform for deepening collaboration and inclusive market development. NGX Group similarly positioned the initiative as a necessary governance standard for listed companies seeking to attract capital and build stronger institutions.
“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,” said Umaru Kwairanga, Group Chairman of NGX Group. He noted that the program provides a practical framework to help businesses unlock the inclusion dividend for the broader economy.
IFC Division Director for West and Central Africa, Olivier Buyoya, stressed that the program reflects a core mission to create better jobs by turning equal opportunities into tangible corporate performance. “Economies grow faster and businesses perform better when women have equal opportunities to participate, lead, innovate and succeed,” Buyoya said. He added that the IFC aims to help Nigerian businesses unlock women's full economic potential as a driver of future prosperity.
The implementation phase has already begun, with private sector organisations formally signing on to the program’s priority areas. The launch drew senior officials from Lagos State, the Ministry of Women Affairs, and top executives from institutions like Ecobank Nigeria, TLcom Capital and UN Women. Companies interested in adopting the framework can now register their participation through the IFC.
