Advancing Financial Inclusion for Nigerian Women: A Pathway to Sustainable Economic Growth
During a recent forum held in Abuja, key stakeholders emphasized the pivotal role of empowering women economically as a cornerstone for fostering inclusive development, alleviating poverty, and ensuring long-term macroeconomic resilience in Nigeria.
Why Women’s Financial Inclusion Matters
Empirical evidence consistently shows that when women gain access to financial services, communities experience enhanced economic stability and growth. According to the World Bank, women in Nigeria are 20% less likely than men to have access to formal financial accounts, highlighting a significant gap that, if addressed, could unlock substantial economic potential.
Collaborative Efforts Driving Change
The event brought together influential leaders such as Munir Bello, Nigeria Country Lead for Inclusive Financial Systems at the Bill & Melinda Gates Foundation; Angela Wambugu, Director of Advisory Services Africa at Women’s World Banking; and Uche Uzoebo, CEO of Shared Agent Network Expansion Facilities Limited. Their collective expertise underscores the importance of multi-sector partnerships in expanding financial access for women.
Innovative Strategies and Future Outlook
Participants discussed innovative approaches, including leveraging digital financial platforms and agent networks to reach underserved women in rural and urban areas. For instance, mobile money services have seen a 35% increase in female users over the past two years, demonstrating the growing acceptance and potential of technology-driven solutions.
As Nigeria continues to pursue economic diversification, integrating women fully into the financial ecosystem remains a critical priority. Experts agree that sustained policy support and targeted interventions can accelerate progress toward gender-inclusive economic prosperity.
Source: Premium Times Nigeria
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