The International Finance Corporation (IFC), a member of the World Bank Group, has launched a program in partnership with the Nigerian Exchange Group (NGX Group) and the Lagos Chamber of Commerce and Industry (LCCI) aimed at strengthening economic inclusion of women in Nigeria, with the support of public and private actors.
Dubbed the Nigeria Gender Country Programme (NGCP), the initiative aims to support companies in adopting policies that promote greater participation of women in leadership positions, better access to skilled jobs, as well as financing, technology, and markets for women-led businesses.
According to the program’s promoters, increased participation of women in the economy could generate up to an additional $22.9 billion in economic output per year in Nigeria.
The program brings together financial regulators, development finance institutions, public administrations, and private companies. Participating organizations will be required to implement measurable inclusion objectives as part of their corporate strategies.
The Securities and Exchange Commission (SEC) of Nigeria has indicated its support for this initiative, believing it could help improve access to financing for women-led businesses and foster the development of more inclusive financial markets.
The NGCP builds on the Nigeria2Equal initiative and discussions held during a roundtable of business leaders organized in June. According to the organizers, private sector companies have already begun to join the program, with the implementation phase now underway.
