FG Raises Concern Over Limited Credit Access for Women Owned Businesses in Nigeria

The Federal Government of Nigeria has revealed that more than 80 percent of women owned businesses in the country lack access to formal credit, a challenge that continues to limit their growth and economic contribution.

This disclosure was made by the Minister of Women Affairs and Social Development, Imaan Sulaiman-Ibrahim, during the grand finale of the Give to Gain Summit held in Abuja to mark the International Women’s Month 2026.

According to the minister, women make up over half of Nigeria’s population and contribute more than 40 percent of the agricultural workforce, yet remain largely excluded from access to finance, land, and structured economic opportunities. She noted that most women led businesses operate within the informal sector, highlighting the urgent need for targeted policies that expand access to credit and markets.

Also speaking at the event, the Director General of the Securities and Exce Commission, Emomotimi Agama, represented by Executive Commissioner Bola Ajomale, stressed the importance of integrating women into Nigeria’s capital market as a pathway to wealth creation.

He explained that although women own about 41 percent of micro businesses and number roughly 23 million entrepreneurs, they are still underrepresented in capital market instruments that enable long term financial growth. He added that the issue is not participation in economic activity but the ability to transition from income generation to asset building.

Agama further noted that while financial inclusion among women rose to 70 percent in 2023, the gender gap persists, with progress slower compared to the general population. He also highlighted regional disparities, particularly in northern Nigeria, where exclusion remains higher among women and rural populations.

Stakeholders at the summit called for deliberate efforts from policymakers, investors, and institutions to improve women’s access to finance and representation in leadership. They emphasized that achieving Nigeria’s ambition of a one trillion dollar economy depends significantly on unlocking the economic potential of women.