Faisal Usman Fagge
The Minister of Women Affairs and Social Development Hajiya Imaan Sulaiman-Ibrahim has disclosed the Nigerian Government’s efforts to deepen financial inclusion and advance women’s economic empowerment through plans to expand women’s participation in the capital market through the development of investment products tailored to women, including gender bonds and mutual funds for women’s cooperatives.
The Minister announced while addressing participants of the Capital Market Clinic and Sensitization Programme a virtual webinar.
The initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda’s commitment to improve the welfare and economic wellbeing of Nigerians, particularly women, through increased access to opportunities that promote financial independence and wealth creation.
“We are working directly with the Securities and Exchange Commission to push for investment products built specifically for women, including gender bonds and mutual funds designed for women’s cooperatives. We are not just inviting you into a market built for someone else. We are reshaping it to fit you,” the Minister stated.
She said greater participation in the capital market would help bridge existing gaps in financial inclusion while positioning women to build long-term wealth and contribute more effectively to national development.
Highlighting the current state of market participation, the Minister noted that although millions of Nigerians have access to investment accounts, only a small proportion actively utilise them.
“Nigeria has about 5 million accounts with the Central Securities Clearing System, and these are the accounts you need to invest in the stock market. Only about 100,000 of them are actually active. That is roughly 2 percent. Ninety-eight percent of the door is open, and almost nobody is walking through it,” she said.
The Minister further pointed out that women continue to face barriers to investment despite improvements in access to formal financial services.
“For women specifically, the latest EFInA data shows 70 percent of us now have some form of formal financial access, real progress. But there is still a 9-percentage-point gap between women and men, and it has been widening, not shrinking,” she stated.
According to her, low financial literacy, distrust arising from previous investment losses and digital access challenges remain major obstacles to women’s participation in the capital market.
She therefore urged women to embrace investment as a pathway to sustainable wealth creation.
“Saving keeps your money safe. It does not make it grow. Inflation is quietly eating every naira sitting still under your mattress or in an account earning almost nothing. We have to move from being chronic savers to strategic investors, from money that is resting to money that is working,” she urged.
The Minister encouraged women to acquire investment knowledge, begin with modest contributions and leverage existing cooperative and contribution structures to access investment opportunities collectively.
She also congratulated Dr Fiona Ahimie on becoming the first woman to lead the Chartered Institute of Stockbrokers, describing the development as a significant milestone for gender inclusion and leadership within Nigeria’s capital market ecosystem.
The Minister maintained that expanding women’s participation in investment and wealth creation is essential to strengthening families, communities and the broader economy.
“Financial inclusion is not a favour being done for us. It is an economic necessity for this nation’s future,” she said.
The programme underscored ongoing efforts by government and stakeholders to strengthen women’s financial participation through policy reforms, investment education and improved access to capital market opportunities.
