Nigeria targets 10 million women for financial empowerment in $1tn economy push
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Government unveils strategy to boost financial literacy and inclusion by 2027
The Nigerian government has unveiled an ambitious plan to empower 10 million women by 2027, positioning financial inclusion and literacy as critical drivers of its broader vision to transform the economy into a $1tn powerhouse by 2030.
Minister of Women Affairs, Imaan Sulaiman-Ibrahim, announced the initiative during an International Women’s Day event themed ‘Accelerate Action—Empowering Women Through Financial Literacy & Inclusion’. The event, supported by the Securities and Exchange Commission (SEC), underscored the urgent need to bridge financial knowledge gaps and expand access to economic opportunities for women.
“When women are financially literate, they can take control of their own economic destiny, secure their families’ future, and become change-makers in society,” Sulaiman-Ibrahim said, stressing that targeted interventions were needed to dismantle systemic barriers.
Despite Nigerian women owning around 40% of small businesses, many face limited access to credit and exclusion from formal financial systems. The minister also warned of their vulnerability to fraudulent schemes, calling for stronger safeguards and educational initiatives.
Speaking at the event, SEC’s Director-General, Emomotimi Agama, highlighted the pivotal role of women in the capital market and wealth distribution. “The objective of this government is to empower women. We must educate them and bring them to the forefront of national recognition when it comes to the capital market,” he said.
Agama also noted that women are frequently targeted by Ponzi schemes due to financial pressures, reinforcing the need for greater awareness and protection. He praised the minister’s commitment to women’s economic empowerment and announced that SEC, through the Nigerian Capital Market Institute, would provide specialised training to help women navigate capital markets and investment opportunities.
With financial inclusion recognised as a cornerstone of sustainable economic growth, the initiative represents a significant step towards closing Nigeria’s gender wealth gap while accelerating progress towards the country’s trillion-dollar economy target.
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