The Federal Government has announced plans to empower 10 million women by 2027 as part of its broader strategy to transform Nigeria into a $1tn economy by 2030.
In a statement made available to our correspondent by the Securities and Exchange Commission on Thursday, the Minister of Women Affairs, Imaan Sulaiman-Ibrahim, disclosed this during a recent event to commemorate International Women’s Day, themed ‘Accelerate Action—Empowering Women Through Financial Literacy & Inclusion.’
Sulaiman-Ibrahim emphasised the need for immediate and decisive action to boost financial literacy and inclusion for women, noting that financial knowledge is crucial in helping them make informed economic decisions.
“When women are financially literate, they can influence their own economic destiny, secure their families’ future, and become change-makers in society,” she said.
She identified barriers hindering women’s full participation in the economy, including limited access to credit, exclusion from formal financial systems, and vulnerability to fraudulent schemes. She called for urgent interventions to address these challenges.
The minister also highlighted that Nigerian women own about 40 per cent of small businesses in the country, underscoring their role in economic growth.
Speaking at the event, the Director-General of SEC, Emomotimi Agama, described women as critical to the capital market and wealth distribution, stressing that financial education is key to empowering them.
“The objective of this government is to empower women. We must educate women and bring them to the forefront of national recognition when it comes to the capital market,” Agama said.
He noted that women are often victims of Ponzi schemes due to their efforts to provide for their families, calling for greater awareness and financial protection.