FG Urged to Break Down Barriers to Women’s Economic Growth

Nigeria:A group of female entrepreneurs has called on the government and financial institutions to remove obstacles hindering women’s participation in business, citing gender-insensitive policies, stringent loan conditions, and limited access to resources as major challenges.

Speaking during a virtual Women’s Economic Empowerment Media Conversation, organized by Gatefield, the entrepreneurs emphasized the need for systemic changes to level the playing field. They highlighted the importance of policy intervention, media advocacy, and education in promoting women’s economic empowerment.

The discussion centered on the findings of a recent report by the Bill & Melinda Gates Foundation, which revealed women’s aspirations for financial independence and economic power. The entrepreneurs shared their personal experiences, including biases in male-dominated industries and limited access to capital.

To address these challenges, the entrepreneurs urged financial institutions to implement women-focused programs, such as the Bank of Industry’s (BOI) third-party collateral initiative. They also emphasized the need for policymakers to enforce mandatory lending quotas for women and ensure equal access to intervention funds.

The call to action comes as Nigeria continues to grapple with the complex challenge of women’s development, hindered by cultural, economic, political, and institutional barriers. By addressing these barriers, the government, civil society, and communities can work together to promote women’s economic empowerment and unlock the full potential of half the population.

By Taiwo olatinwo/ March 22, 2025