Women & Business

AXA Mansard Investment’s Mentorship Drive Aims to Close Financial Literacy Gap for Women

by Women Times on March 26, 2026

In celebration of International Women’s Day, AXA Mansard Investment has launched a speed-mentoring initiative focused on increasing investment and financial literacy among young professional women across Nigeria.

Under the theme “Acting for her progress,” the programme brought together accomplished women from various sectors to dedicate at least two hours each to mentor and inspire young women seeking opportunities for financial growth.

The list of women mentors includes – Omolara Ismail (Executive Director, Lagos & South, Jaiz Bank), Ifedayo Durosimi Etti (Founder, Herconomy), Bolu Essien (Filmmaker and Corporate Marketing Professional), Fiona Uwagwu (Head of Social and Content, Ogilvy UK), Omowunmi Mabel Adewusi (General Counsel & HR Director, AXA Mansard), Oluwaseyi Layade (COO, Leo Burnett Lagos), Ngozi Ola Israel (Chief Financial Officer, AXA Mansard), Jumoke Odunlami (Chief Distribution Officer, AXA Mansard), Adebola Surakat (Chief Marketing Officer, AXA Mansard), and Abisola Nwoboshi (Head of Life Business, AXA Mansard).

Commenting on the initiative, Deji Tunde-Anjous, CEO of AXA Mansard Investment, stated that the programme exemplifies the company’s commitment to driving inclusive protection.

He said, “the need to empower and strengthen the financial base of women is something we take very seriously. We understand that women are multipliers and the more investment we make in them, the better the society becomes. Financial illiteracy is a fundamental gap in the development trajectory of society. But when you empower women, we can close that gap faster.”

Tunde-Anjous further explained, “At another level, this programme also represents our deep commitment to gender balance. We wanted to demystify the myth around investment and risks, and we thought the best way to do that is to provide direct access to women who have walked the terrain. We are excited and encouraged by the responses so far. The slots filled up faster than we imagined.”

Adebola Surakat, Chief Marketing Officer of AXA Mansard Plc, emphasized the importance of creating platforms where women can learn directly from successful role models.

“At AXA Mansard, we believe financial empowerment is one of the most powerful ways to unlock opportunities for women. Mentorship plays a critical role in that journey, allowing women to learn directly from those who have successfully built, grown, and protected wealth,” she said.

She added, “Through our Acting for Her Progress initiative, we are creating a platform where experienced women can share their insights, time, and encouragement so others gain the clarity, confidence, and support needed to take bold steps in their financial and professional journeys. For us, it’s not just about celebrating successful women; it’s about creating pathways for more women to progress, thrive, and build lasting financial security.”

Through efforts like this, AXA Mansard continues to reinforce its dedication to empowering women by providing access to mentorship, knowledge, and supportive communities that inspire growth, leadership, and success.

Special Report Women & Business

5 Wealth-Building Strategies for Nigerian Women-led Businesses

by Women Times on March 25, 2026

By Chinwe Iwobi, Head of Wealth Management, FairMoney Microfinance Bank

In Nigeria, women are the backbone of our economy. Data from the National Bureau of Statistics shows that women own approximately 40% of small and medium-sized enterprises across the country (NBS Country Data Overview 2023). Yet despite their outsized contribution to GDP, women-led businesses continue to face systemic barriers to the capital and financial infrastructure needed to scale.

The cost of that gap is not abstract. When these entrepreneurs are held back, the ripple effect runs deep, from household stability to the education of the next generation. But the narrative is shifting. Nigerian women are proving, consistently, that they are not just resilient; they are sophisticated, high-earning innovators building businesses that deserve serious financial strategy.

Here are five foundational strategies every women-led business should be deploying to build lasting, generational wealth.

1. Separate Business and Personal Finances Without Exception

Mixing personal funds with business cash is one of the most common and most damaging financial habits I see among growing entrepreneurs. It obscures your true profit margins, makes tax planning nearly impossible and, critically, disqualifies you from accessing formal credit when you need it most.

The discipline of separation is not just administrative. It is the first signal you send to the financial system that your business is serious. Open a dedicated business account, maintain clean transaction records, and treat your business finances with the same rigour you would expect from any enterprise operating at scale. Clarity on your numbers is the foundation on which every other strategy here depends.

2. Build Both an Emergency Fund and an Opportunity Fund

Most financial advice stops at the emergency fund, which is three to six months of operating expenses set aside for lean periods. That is necessary, but insufficient. The entrepreneurs I have watched grow most aggressively also maintain what I call an opportunity fund: accessible liquidity specifically reserved to move fast when a prime supplier deal, an expansion location, or a bulk inventory discount appears.

In an unpredictable market like Nigeria’s, the businesses that scale are rarely the ones with the best products alone. They are the ones with the financial readiness to act decisively. Products like FairMoney’s FairSave are designed precisely for this, keeping your funds accessible while earning competitive daily interest so your idle cash is working even when you are not. Build both buffers, and build them before you think you need them.

3. Invest Profits Back into Revenue-Generating Assets

Surplus cash sitting in a current account is a slow leak. Inflation erodes it and opportunity costs compound quietly. The discipline here is to consistently channel profits back into assets that grow your revenue capacity, whether that is new equipment, improved technology, better inventory systems, or staff training.

For capital you do not need immediately, consider locking it into a fixed-term savings product that offers higher interest returns. The psychological benefit is as important as the financial one: ring-fencing that capital removes it from day-to-day spending temptation and ensures it is preserved and grown for a defined purpose. Discipline in capital allocation separates businesses that plateau from those that compound.

4. Diversify Your Revenue Streams Intentionally

Single-stream businesses are inherently fragile. If your sole revenue source is disrupted by market shifts, a supply chain breakdown, or a change in consumer behaviour, your entire operation is exposed. Resilience is built by design, not by accident.

If you are in retail, consider adding a service-based arm. If you are service-led, explore whether digital products or training offerings could create passive income alongside your core work. Beyond product diversification, consider how you accept payments. Building a verified, diverse transaction history through formal payment channels also quietly strengthens your credit profile, an asset that pays dividends when you approach lenders for growth financing. FairMoney’s Business POS infrastructure, for instance, allows entrepreneurs to expand their payment reach while simultaneously building that financial track record.

5. Invest Beyond the Business

This is the strategy most women entrepreneurs delay for too long, and it is the one I feel most strongly about. Relying entirely on your business for your net worth is a high-risk position, no matter how well that business is performing. Businesses face cycles; personal wealth should not.

As your business stabilises, begin systematically moving a portion of your profits into personal investment vehicles such as long-term savings accounts, money market funds, or other instruments that sit entirely outside the business cycle. Automate it if you can, so the decision is made once and executed consistently. The goal is to build a personal financial foundation that remains intact regardless of what your business goes through in any given quarter. True wealth is not what your business is worth on paper. It is what you own independently of it.

The Bigger Picture

For female entrepreneurs in Nigeria, wealth-building is not simply a personal ambition; it is an economic argument. When women-led businesses scale, communities stabilise, households invest in education, and local economies deepen. The strategies above are not complicated, but they require consistency and the right financial infrastructure to execute well.

The tools exist. The opportunity is real. What remains is the decision to treat your business, and your personal wealth, with the long-term seriousness both deserve.

News Women & Business

𝗦𝗘𝗖, 𝗲𝘅𝗽𝗲𝗿𝘁𝘀 𝗽𝘂𝘀𝗵 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 𝗳𝗲𝗺𝗮𝗹𝗲 𝗽𝗿𝗲𝘀𝗲𝗻𝗰𝗲 𝗶𝗻 𝗡𝗶𝗴𝗲𝗿𝗶𝗮’𝘀 𝗰𝗮𝗽𝗶𝘁𝗮𝗹 𝗺𝗮𝗿𝗸𝗲𝘁 ‎

by Women Times on March 9, 2026

By Prosper Mene

The Securities and Exchange Commission (SEC) of Nigeria, alongside industry experts, has intensified calls for greater female participation in the country’s capital market, emphasizing that stronger female presence is essential for enhancing investor confidence, driving inclusive growth, and sustaining market development.

The SEC highlighted deliberate efforts to create opportunities for women to thrive both within the commission and across the broader capital market ecosystem. This push aligns with ongoing initiatives to promote gender diversity and financial inclusion, particularly as Nigeria’s capital market experiences robust expansion, with market capitalization surging 125% to over ₦123 trillion in recent years.

Experts argue that increasing women’s involvement in roles such as investing, fund management, leadership positions, and regulatory oversight would bring diverse perspectives, reduce gender gaps in financial access, and contribute to more resilient and innovative market practices. The SEC has been proactive in this area, including through policies fostering inclusivity, launching educational tools like podcasts to boost awareness among women, and supporting training programs on gender-smart investing.

The SEC’s Director-General and other stakeholders have stressed that gender equality in the sector is not just a social imperative but a strategic one for national economic progress, investor protection, and broader wealth creation. As Nigeria aims for deeper market penetration and attracts more diverse participants, closing the gender gap in capital market engagement remains a priority for regulators and industry leaders.

News Women & Business

Tense Exchange Rocks Nigerian Senate: Akpabio Rules Natasha Out of Order in Heated Abortion Bill Clash

by Women Times on October 22, 2025

Prosper Mene

Abuja, October 22, 2025

A charged atmosphere gripped the Nigerian Senate today as President of the Senate, Godswill Akpabio, and Senator Natasha Akpoti-Uduaghan (Kogi Central) locked horns over a contentious clause in the Criminal Code Amendment Bill, spotlighting deep divisions on abortion rights and parliamentary procedure.

The drama unfolded during plenary session when lawmakers debated the bill, which originated in the House of Representatives and was tabled for Senate concurrence by Senate Leader Opeyemi Bamidele (Ekiti Central). The legislation aims to modernize Nigeria’s Criminal Code Act by aligning it with “contemporary social, moral, and medical realities.” Key proposals include harsher penalties for sexual offenses, such as a life sentence for defilement—up from the current five years and a dramatic escalation in punishments for aiding abortions.

Under the bill, individuals supplying drugs or instruments for abortions would face 10 years’ imprisonment without the option of a fine, a steep increase from the existing three-year term. While the Senate swiftly approved the defilement clause unanimously, with Akpabio emphasizing that “defilement is even more serious than rape,” the abortion provision ignited fierce debate. Senators grappled with thorny questions: When does abortion cross into “merciful” versus “cruel” territory? Should it be permitted in cases of rape, incest, or threats to the mother’s life?

Opposition mounted quickly. Senator Saliu Mustapha (Kwara Central) argued that blanket criminalization could overlook medical or religious justifications, potentially endangering lives. Senator Abdul Ningi (Bauchi Central) voiced similar fears, warning that the clause might deter doctors from providing critical care or advice. “We must step down the bill for wider consultations to avoid endangering lives,” Ningi urged.

In response, Akpabio suspended deliberation on the abortion clause, referring it to the Senate Committee on Judiciary, Human Rights, and Legal Matters for review and a report within two weeks. The chamber adopted the motion via voice vote, seemingly closing the matter.

But the gavel’s fall did little to quell the fire. As proceedings moved forward, Akpoti-Uduaghan raised her hand insistently, pleading for the floor. “Mr. Senate President, please may I speak? I am a woman, and abortion has to do with women. It is very important, sir,” she implored, her voice cutting through the chamber’s hum. This marked her first major intervention since returning from a six-month suspension earlier this year, a penalty stemming from a prior altercation with Akpabio over seating arrangements.

Akpabio, however, stood firm. “Distinguished Senator, the matter has been stepped down in totality,” he replied, initially inviting brief additions before clarifying the finality. Undeterred, Akpoti-Uduaghan pressed on, focusing on the clause’s implications for women’s health and rights.

Enter Senator Adams Oshiomhole (Edo North), who swiftly raised a point of order. “If you grant this exemption to distinguished Senator Natasha, then you must extend the same exemption to us. At the end, we shall have no rules. The rules should be firm and applied the way you have done,” Oshiomhole cautioned, invoking Senate Standing Rule 52 (Sub-6), which bars reopening concluded matters.

Akpabio sided with Oshiomhole, invoking the rule emphatically. “I rule Senator Natasha out of order,” he declared, drawing murmurs from the floor and underscoring the chamber’s rigid adherence to protocol amid emotional stakes.

Post-plenary, Akpoti-Uduaghan did not mince words about her frustration. “I am disappointed I wasn’t allowed to speak about an issue that concerns women,” she told reporters. “My hand was up throughout the debate, and I felt the Senate President should have recognized me. I remain passionate about issues affecting women and intend to make my inputs when the bill reaches the committee stage.”

The clash adds to a string of procedural tussles involving Akpoti-Uduaghan, whose bold style has both endeared her to advocates for gender equity and irked traditionalists in the male-dominated Senate. Critics, including some online voices, speculate whether the ruling hints at lingering tensions from her suspension, though Akpabio’s office has dismissed such notions as baseless.

The episode lays bare Nigeria’s polarized stance on reproductive rights, where cultural conservatism clashes with calls for compassionate reforms. With the committee’s review looming, the bill’s fate and its potential to reshape access to safe abortions, remains in limbo, fueling anticipation for deeper consultations.

Women & Business Women in Nigeria

Rafiat Onitiri Assumes APWB Leadership, Pledges Bold Reforms for Women’s Empowerment in Nigerian Banking

by Women Times on October 22, 2025

By Prosper Mene

Lagos, Nigeria – October 22, 2025

Rafiat Onitiri, a seasoned banking executive with a formidable track record, has taken the reins as Chairperson of the Association of Professional Women Bankers (APWB), vowing to redefine the landscape for women in Nigeria’s financial sector.

Her election, announced at a vibrant ceremony in Lagos, marks a significant transition as she succeeds Funke Ladimeji, whose tenure elevated the association’s profile through robust mentorship and advocacy. Onitiri’s acceptance speech, charged with resolve, outlined an ambitious agenda centered on empowering women, fostering transparency, and driving strategic initiatives to reshape an industry where gender parity remains elusive.

Onitiri’s vision, articulated before a diverse audience of banking professionals, regulators, and stakeholders, emphasized dismantling systemic barriers that hinder women’s advancement. “Our mission transcends professional development; it’s about rewriting the narrative for women in finance,” she declared.

The APWB, established in 1983 as the women’s wing of the Chartered Institute of Bankers of Nigeria (CIBN), has long championed skill-building and networking. Yet, Onitiri’s leadership signals a pivot toward bolder interventions, leveraging digital platforms, influencing policy, and forging cross-sector partnerships to amplify impact. Her pledge to prioritize inclusion resonates in a sector where women, despite forming nearly half the workforce, occupy only 25% of senior roles, according to recent industry data.

Her credentials lend weight to her promises. With over 20 years in banking, Onitiri has navigated complex roles, including Head of Commercial Banking at Polaris Bank and founder of Athrol Empowerment Solutions Limited, a firm dedicated to financial access for underserved women.

Her academic portfolio, spanning a Master’s in Business Administration (Chartered Bankers) from Bangor University, a Master’s in Marketing Management from Lagos State University, and advanced training from Lagos Business School, equips her to bridge practice and policy. As a Fellow of the Executive Resource Programme (FERP) and the Institute of Credit Administration (FICA), and a member of the CIBN Governing Council, Onitiri’s expertise in credit analysis and sustainable finance positions her to tackle the sector’s evolving challenges, from fintech disruptions to climate-focused investments.

Under Funke Ladimeji’s leadership, the APWB gained momentum through initiatives like the Female Bankers Connect series and high-impact symposia that mentored hundreds and forged corporate alliances. Onitiri inherits this legacy but faces a complex landscape: Nigeria’s banking sector is at a crossroads, grappling with economic volatility, regulatory shifts, and the rise of digital finance.

Her strategy includes expanding digital literacy programs to equip women for tech-driven roles, advocating for gender-sensitive policies at regulatory levels, and strengthening mentorship pipelines to nurture the next generation of female leaders. “Transparency and inclusion aren’t buzzwords; they’re the bedrock of sustainable progress,” she emphasized, hinting at plans for greater accountability in APWB’s operations and partnerships.

The broader effect of Onitiri’s leadership are already stirring excitement. Industry voices, like APWB Treasurer Chinwe Egwim, predict her focus on strategic impact will ripple beyond banking, influencing Nigeria’s economic fabric. As Managing Director of FIC Professional Network PLC, Onitiri is poised to integrate her corporate influence with her APWB role, driving initiatives like leadership summits and policy roundtables. The association’s upcoming calendar, detailed at apwborg.com, promises a dynamic mix of workshops and advocacy campaigns. For women in Nigeria’s financial sector, Onitiri’s rise is a clarion call: The future is not just inclusive, it’s unapologetically female-led.

News Women & Business Women of Substance

Cecilia Umoren leads change in Nigeria’s Oil sector.

by Women Times on March 31, 2025

By Prosper Mene

In the high-stakes world of Nigeria’s oil and gas industry, where pipelines crisscross the Niger Delta and global markets hang on every barrel, Cecilia Umoren stands as a beacon of resilience and vision. As Executive Chairman of Millennium Oil and Gas since 2015, she has spent a decade steering the company through turbulent waters—both literal and figurative—while quietly carving a path for women in a sector long defined by male dominance. Her story is one of grit, innovation, and an unwavering commitment to sustainable growth, earning her a spot among the 100 Reputable Women of African Descent in 2025.

Umoren’s journey to the top of Millennium Oil and Gas is not just a personal triumph; it’s a testament to the slow but seismic shift unfolding in Nigeria’s energy landscape. The oil sector, which accounts for over 90% of the nation’s foreign exchange earnings, has historically been a tough arena for women. Yet, under her leadership, Millennium, a player in upstream exploration and production has weathered economic volatility, security challenges, and the global push toward cleaner energy. “It’s not about surviving the storm,” Umoren once said in a rare interview. “It’s about building something that endures beyond it.”

Taking the helm in 2015, Umoren inherited a company at a crossroads. Nigeria’s oil industry was grappling with falling global prices, rampant oil theft, and a government eager to diversify the economy. Her approach was methodical yet bold: streamline operations, invest in local talent, and prioritize sustainability. Over the past decade, she has overseen the development of key assets in the Niger Delta, navigating the region’s complex socio-political dynamics while fostering partnerships with communities often at odds with oil firms. Her tenure has seen Millennium bolster its production capacity, contributing to Nigeria’s fragile but vital oil output recovery—projected to hit 1.8 million barrels per day in 2025, despite setbacks like the recent pipeline explosions in Rivers State.

What sets Umoren apart, colleagues say, is her ability to balance profit with purpose. In an industry criticized for environmental negligence, she has championed initiatives to reduce gas flaring and integrate renewable energy pilots into Millennium’s operations. “The future of oil isn’t just about extraction—it’s about responsibility,” she remarked at an industry summit in Abuja last year. This vision aligns with Nigeria’s broader ambitions under the Petroleum Industry Act, which seeks to modernize the sector while addressing climate concerns.

For Umoren, leadership is personal. Raised in Akwa Ibom, a state rich in oil yet scarred by its extraction, she witnessed firsthand the paradox of resource wealth and local poverty. That perspective drives her advocacy for inclusion, not just for women, but for the communities her industry touches. At Millennium, she has pushed for training programs that elevate female engineers and geoscientists, a move that echoes across an industry where women globally make up only 22% of the workforce. Her efforts earned her accolades this month from the Empowerment and Entrepreneurship Initiative, which hailed her as a trailblazer for African women.

Her rise hasn’t been without challenges. The oil sector’s volatility—exacerbated by incidents like the March 2025 Rivers State crisis, where sabotage slashed output—tests even the steadiest hands. Critics argue her cautious approach to expansion has limited Millennium’s scale compared to giants like Shell or Chevron. Yet, supporters counter that her focus on stability has kept the company afloat where others have faltered. “She’s not here to chase headlines,” says a longtime associate. “She’s here to build a legacy.”

Umoren’s story resonates beyond the boardroom. She joins a growing cadre of Nigerian women reshaping the oil sector—from Elohor Aiboni, Shell Nigeria’s first female MD, to Senator Margareth Chuba Okadigbo, NNPC’s pioneering female chairman. Together, they signal a cultural shift in an industry at a pivotal moment, as Nigeria courts foreign investment (notably from China, with 74 oil-focused firms signing deals in 2024) while grappling with domestic unrest.

News Uncategorized Women & Business

CBN Governor Highlights Gender Equity Milestone with Women at 35% of Apex Bank Directors.

by Women Times on March 31, 2025

By Prosper Mene

In a landmark stride toward gender inclusion in Nigeria’s financial sector, the Central Bank of Nigeria (CBN) has achieved a significant milestone, with women now constituting 35% of its recently appointed directors. Governor Olayemi Cardoso emphasized this achievement as a testament to the bank’s commitment to fostering inclusive leadership, speaking at the grand finale of the International Women’s Day (IWD) celebrations held at the CBN headquarters in Abuja.

Cardoso highlighted the importance of gender equity, describing it as both a moral imperative and an economic necessity. “At the CBN, we are proud to be part of this global movement. Women now make up 35% of recently appointed directors and three out of the seven non-executive board members, showing our firm commitment to fostering inclusive leadership in Nigeria’s financial sector,” he stated. He highlighted that the growing presence of female leaders in top positions across banks and regulatory bodies is reshaping the industry, with the number of female managing directors in Nigerian financial institutions reaching an all-time high.

The event, which marked the culmination of IWD 2025 activities, also featured the “Inspiring Women Award,” an initiative by the CBN’s Change and Culture Transformation Unit (CCTU). Out of 806 nominations nationwide, 28 exceptional female staff members from branches including Awka, Dutse, Yola, Gombe, Oshogbo, Kaduna, Enugu, and Birnin Kebbi were honored for their outstanding contributions. Among the recipients, Deputy Governor Emem Usoro received the prestigious Amazon Award from Cardoso, recognizing her exemplary leadership since taking office.

Cardoso praised the contributions of newly appointed directors such as Daphne Dafinone, Nkiru Balonwu, and Shola Phillips, noting their pivotal roles in navigating complex challenges and shaping the bank’s policy direction. “Increasing women’s representation in leadership is not just ethical; it is a strategic necessity,” he said, adding that the rise of women in leadership at the CBN mirrors a global shift toward diverse and visionary governance.

Deputy Governor of Corporate Services, Emem Usoro, echoed Cardoso’s sentiments, emphasizing the urgency of the IWD 2025 theme, “Accelerate Action.” Citing a World Economic Forum report projecting full gender parity by 2054, she called on institutions to dismantle structural barriers and create opportunities for women. “This year’s program reflects our shared commitment to equity, inclusion, and institutional progress,” Usoro remarked.

The CBN’s push for gender equity is in terms with broader efforts to enhance financial inclusion, particularly for women and underserved groups. Recent initiatives, including the Women Entrepreneurs Finance Code and a Gender Desk within the Financial Inclusion Unit, shows the bank’s dedication to closing the gender gap in access to finance, a gap currently estimated at 9% in Nigeria.

Nigerian Women Rise Above Tough Times with Grit, Teamwork, and Clever Ideas.

by Women Times on March 25, 2025

By Prosper Mene

Nigeria’s economy is in a tight spot these days, and it’s hitting everyone hard. Inflation has pushed the prices of food, clothes, and even transport through the roof, while fuel costs keep climbing after recent shortages. But across the country, from the noisy markets of Lagos to the office blocks of Abuja, Nigerian women are proving they’ve got what it takes to push through. A new report released this week by the Women’s Economic Network shines a light on how they’re adapting—and it’s inspiring stuff.

Take the small-scale traders in Lagos, for example. Women like Mama Tolu, who sells tomatoes and peppers at Mile 12 Market, are getting creative. “Before, I could buy a bag of tomatoes for 5,000 naira,” she said. “Now it’s 12,000, and customers don’t have money to pay more. So, I started making stew in small batches to sell—it keeps me going.” She’s not alone. Many traders are adding new items like homemade snacks or soap to their stalls, turning little ideas into extra cash.

In cities like Kano, women are juggling even more. Amina, a 35-year-old mother of three, used to rely on her husband’s mechanic job. But with fuel prices up, his work slowed down. Now, she’s taken up tailoring on the side. “I borrow a sewing machine from my sister and make clothes at night,” she told us. “It’s not much, but it buys bread and pays school fees.” Her story echoes what the report found: side hustles are popping up everywhere as women find ways to fill the gaps.

Then there’s the teamwork angle. In Abuja, a group of women in Garki have formed what they call a “savings circle.” Funmi, a primary school teacher, explained how it works: “Ten of us put in 2,000 naira every week. Each month, one person takes the pot—20,000 naira. It’s helped me buy books for my kids and even fix my stove.” The report says these community networks are a lifeline, especially in rural areas where banks feel out of reach. In places like Ogun State, women are swapping farm goods like yam and cassava instead of cash, keeping their families fed when money’s scarce.

Experts say this isn’t just about getting by—it’s about women holding Nigeria together. Dr. Ngozi Okeke, who worked on the report, pointed out, “Women manage over 70% of household spending in Nigeria. When the economy shakes, they’re the ones steadying the ship.” Her numbers back up the stories: in Kano alone, women’s contributions to local markets have kept food stalls running despite a 30% drop in sales this year.

From Lagos to the north, these women aren’t waiting for things to get easier. Whether it’s a trader frying akara at dawn, a nurse selling hair oil after her shift, or a group of friends sharing the load, they’re showing resilience that’s hard to miss. As Nigeria battles these tough economic times, it’s clear: the strength of its women is a big part of what’s keeping families and the country afloat.

News Entrepreneurship Politics Women & Business

Nigerian Women Entrepreneurs Rally for Economic Equity at Lagos Summit.

by Women Times on March 19, 2025

By Prosper Mene

Hundreds of Nigerian women entrepreneurs descended on Lagos today for the “Women in Business Summit,” demanding bold policy changes to secure greater economic inclusion in a nation where their potential remains largely untapped. Held at the Eko Convention Centre, the event brought together business owners, policymakers, and international advocates to address the stark disparities facing women-led enterprises.

Funke Adeyemi, founder of a fast-growing fintech startup, set the tone with a fiery opening speech. “We’re not asking for handouts—we’re demanding a level playing field,” she declared, citing data that women-owned businesses in Nigeria receive less than 15% of available venture capital despite driving significant job creation. Adeyemi pointed to the success of initiatives like “SheTrades Nigeria,” which has empowered over 5,000 women to break into export markets since its launch in 2023, as proof of what’s possible with proper support.

The summit’s urgency was amplified by recent commitments made at the UN Commission on the Status of Women (CSW69) earlier this month, where Nigeria pledged to advance gender equity. Yet attendees, including small-scale traders and tech innovators alike, voiced frustration over slow progress. “Access to loans, training, and markets shouldn’t be a privilege—it’s a right,” said Chidinma Okoro, a textile entrepreneur from Aba, echoing a common refrain.

Government representatives present, including the Minister of Women Affairs, promised to review proposals for tax incentives and microfinance schemes tailored for women. International delegates from the World Bank and UN Women also pledged technical support, spotlighting Nigeria as a key player in the global push for women’s economic empowerment.

As the day unfolded, the summit trended online under #WomenMeanBusiness, with participants vowing to hold leaders accountable.

Empowerment Entrepreneur Women & Business

Nigerian Women Entrepreneurs Persist Amid Challenges, Driven by Quest for Stability.

by Women Times on March 17, 2025

By Prosper Mene

A recent report by Mastercard, first published by Businessday NG on 5 March, continues to resonate across Nigeria, shedding light on the motivations of female entrepreneurs. The study revealed that over 90% of Nigerian women are driven to start their own businesses by a desire for financial security, with a particular emphasis on achieving independence and establishing a safety net. This trend is especially pronounced among younger generations, namely millennials and Gen Z, who are increasingly taking their futures into their own hands.

Since the report’s release, it has sparked widespread discussion. Many women who have ventured into entrepreneurship acknowledge the difficulties but view it as a preferable alternative to reliance on others or an uncertain job market. Amaka, a hairdresser in Lagos, shared her perspective: “I opened my salon because I refused to live at the mercy of others. Rent is steep and power supply is unreliable, but I can now provide for my child and rest easier knowing I control my income.”

The Mastercard findings highlight a burgeoning entrepreneurial spirit, particularly among young women fresh from education or balancing side ventures. Rather than waiting for traditional employment opportunities, which are often scarce, they are launching small retail outlets, engaging in e-commerce, or offering services such as catering to secure their livelihoods.

However, the path is not without obstacles. Entrepreneurs frequently cite challenges such as taxation, poor infrastructure, and inconsistent electricity as significant hurdles. Despite these difficulties, their resolve remains unshaken. Chioma, a trader in Abuja, remarked, “I may not have everything I need, but I’m determined to ensure my children don’t endure the struggles I’ve faced.”

Observers suggest that this wave of determination could transform Nigeria’s economic landscape if supported by government initiatives, such as accessible loans or improved market conditions. For now, these women continue to forge ahead, demonstrating remarkable resilience and a refusal to be deterred.