The International Finance Corporation (IFC), a member of the World Bank Group, in collaboration with Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI), under a coalition tagged Nigeria Gender Country Programme (NGCP), is set to position gender inclusion as a key driver of investment, competitiveness and long-term economic growth to the tune of $22.9 billion additional economic output for Nigeria.

The programme is spearheaded by these organisations aims to use the NGCP to bring together advisory expertise, financing and strategic partnerships aimed at increasing women’s representation in leadership positions.

It also targets improvement in access to quality jobs, and expanding opportunities for women and women-led businesses to access finance, technology and markets.

The initiative follows the CEO Roundtable held in June and builds on the progress recorded under Nigeria2Equal, IFC’s earlier gender inclusion programme. With the launch of NGCP, participating organisations are expected to begin implementing measurable gender-smart business practices rather than limiting discussions to policy conversations.

Research supporting the programme indicates that closing gender gaps in leadership, employment and entrepreneurship could contribute an estimated $22.9 billion in additional economic output every year, strengthening the business case for increased private-sector investment in gender inclusion.

Speaking during the launch, Group Chairman of NGX Group, Alhaji Umaru Kwairanga, described the initiative as a transition from dialogue to implementation, stressing that women’s economic participation should be viewed as an economic necessity rather than a social objective.

“Through the Nigeria Gender Country Programme, we are creating a practical framework that will help businesses strengthen leadership, expand opportunity and unlock the inclusion dividend for Nigeria’s economy,” he said.

Representing Lagos State Governor Babajide Sanwo-Olu, the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose-Medebem, reiterated the state’s commitment to fostering an enabling environment for women-led enterprises while advancing inclusive economic development.

Also speaking at the event, Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, urged stronger collaboration among government institutions, development partners and the private sector to accelerate women’s economic empowerment and create greater opportunities for women across strategic sectors of the Nigerian economy.

The IFC Division Director for West and Central Africa, Olivier Buyoya, said the programme demonstrates the organisation’s commitment to helping businesses transform gender inclusion into improved competitiveness and sustainable business growth.

Representing 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 role of Nigeria’s capital market in promoting inclusive growth, expanding access to finance and supporting women-led enterprises.

“The Commission welcomes the Nigeria Gender Country Program as an important platform for deepening collaboration, innovation and knowledge sharing in support of inclusive market development. We commend the IFC for its leadership in promoting inclusive private sector development globally, and for its partnership with Nigeria in strengthening our financial markets,” she said.

Commenting on NGX Group’s role as a strategic partner in the initiative, the Group Managing Director/Chief Executive Officer of NGX Group, Temi Popoola, who was represented by the Group Chief Strategy Officer, Jumoke Olaniyan, said the programme builds on the foundation established by Nigeria2Equal while creating a framework for practical implementation.

“At NGX Group, our role extends beyond facilitating capital formation. We are equally committed to promoting the standards, practices and partnerships that help businesses grow responsibly and compete successfully,” he said.

Source: Leadership.ng