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Nigerian Businesses Have Improved Gender Equality but More Efforts Needed, Says Report

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Nigerian companies scored better than global averages for some aspects of women’s participation in the workforce, but will need to further step up efforts to bridge the gaps that remain between women and men in the private sector, according to an IFC study conducted in partnership with Nigerian Exchange Limited (NGX).

The study, Gender Equality in Nigeria’s Private Sector, assessed gender gaps at 30 leading companies listed on NGX using the Equileap Scorecard, a methodology that evaluates gaps across four categories – corporate leadership, compensation and flexible work, corporate policies to promote gender equality, and efforts on commitment, transparency, and accountability in closing gender gaps.

Overall, Nigerian companies scored an average of 32 percent across 19 gender equality metrics for the four categories, two percentage points behind the global average in Equileap’s dataset reported in 2020.

While companies assessed scored better than the global average on women’s participation as leaders on boards and compared favorably with global averages on women in senior management, work needs to be done to achieve gender balance—between 40 and 60 percent of each gender—across the four categories.

To help improve gender balance in the private sector, the report recommends improving gender equality in formal employment, access to finance for women who want to start a business, and access to markets through supply chains and procurement opportunities.

“NGX has gender equality embedded at the core of its working practices and has made giant strides in galvanizing capital market stakeholders to institutionalize gender equality within their operations.

“The Nigeria2Equal program comes as a strategic initiative designed to support the private sector in increasing women’s participation in employment and entrepreneurship through favorable workforce policies and practices and we are resolute in our commitment to participate in the program going forward,” said Temi Popoola, Chief Executive Officer, Nigerian Exchange Limited (NGX).

The report is part of the Nigeria2Equal initiative launched in 2020 by IFC in partnership with Nigerian Exchange (NGX). The program, which runs until 2023, aims to reduce gender gaps in the private sector through research and case studies, a 15-company peer learning platform, and provide firm-level advisory support to companies to implement gender action plans.

The program will support the private sector in Nigeria to increase women’s participation as leaders, employees, customers, and entrepreneurs by promoting favorable workforce policies and practices, development of products and services that target the women’s market segment, and deliberate measures that empower women’s participation in corporate procurement.

“Through the Nigeria2Equal initiative, we are working with CEOs of private sector companies listed on the Exchange who are committed to implementing gender-smart solutions to improve their performance in gender across leadership, employment and entrepreneurship.

“By conducting market research and publishing studies, such as this report, we are providing strong evidence on the important role women play in the country’s private sector, helping companies to identify gaps and constraints, and ultimately invest in reducing those gaps,” said Kalim M. Shah, IFC’s Senior Country Manager for Nigeria.

IFC also unveiled a peer learning platform today to accelerate efforts to bridge the gaps between women and men. The participating companies, which represent diverse business sectors such as banking and finance, construction, FMCG, food manufacturing, hospitality, insurance, logistics, oil & gas, ride hailing and telecommunications, include MTN Nigeria, Access Bank, Sterling Bank, EcoBank, AIICO Insurance, Ardova Plc, Flour Mills of Nigeria, Lafarge Africa, Moove Africa, StanbicIBTC Bank, Airtel Nigeria, UAC of Nigeria, Cadbury Nigeria, Red Star Express, Transcorp Hotels, and Union Bank.

The 15 Nigerian companies will make at least three commitments to reduce gender gaps in their operations. For example, they may commit to boost the number of women in leadership or implement strategies to bring more women into corporate supply chains.


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NASRDA, Galaxy Space Firm Sign MoU on Satellite Connectivity

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National Space Research and Development Agency (NASRDA) has signed a Memorandum of Understanding (MoU)  with Galaxy Space, Chinese LEO satellite player,  to deploy direct‑to‑device (D2D) satellite services nationwide by the end of this year.

NASRDA, Galaxy Space Firm Sign MoU on Satellite Connectivity

According to media reports, Galaxy Space will integrate its LEO satellite constellation into Nigeria’s telecom grid, which will allow existing smartphones and laptops to link directly to the satellites.

The MoU also covers technology‑transfer programmes, joint R&D labs and the co‑production of a CubeSat by Nigerian engineers.

Apart from the benefit of enabling mobile coverage outside of terrestrial network range,  Dr Matthew Adepoju, director- general, NASRDA, said the deal with GalaxySpace would enable Nigeria to build up its domestic space technology sector.

“It is no longer acceptable that we must import every single device we need,” he told the News Agency of Nigera. “The time has come for us to produce our own technologies here at home.”

GalaxySpace, which designs and manufactures its own LEO satellites, currently has a test constellation of seven LEO satellites in orbit, and has said its “Mini-Spider” constellation will eventually comprise up to 1,000 satellites.

GalaxySpace said  it has also signed multi-tier partnerships in Thailand, the United Arab Emirates, Saudi Arabia, Indonesia, and Malaysia.

Last year, it also signed a deal with Hong Kong carrier PCCW Global to integrate its LEOsat connectivity with PCCW’s worldwide network, giving it access to over 3,000 cities across the Americas, Europe, Africa, the Middle East and Asia-Pacific.


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IHS Nigeria, United Nations Global Compact Host High-Level Dialogue on Sustainability and Greener Business Practices in Nigeria

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L-r: Group Head, Climate and Finance Sustainability, Bank of Industry, Lanre Babalola, General Manager, Regulatory Affairs, MTN Group, Oyeronke Oyetunde, Head of programmmes, UN Global Compact Network Nigeria, Gloria Okorie (Moderator), Director, Sustainability, IHS Nigeria, Titilope Oguntuga, Head, Corporate Sustainability and Responsibility Wema Bank, Abimbola Agbejule after their panel session on Collaborative Strategies for Greener Business Practices, Innovation and Sustainable Development at a private sector dialogue on Environmental Stewardship organised by the United Nation Global Compact Network Nigeria in Partnership with IHS Nigeria, in commemoration of 2025 World Environment Day.
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IHS Nigeria, in collaboration with the United Nations Global Compact Network Nigeria, hosted a high-level private sector dialogue themed “Collaborative Strategies for Greener Business Practices, Innovation and Sustainable Development”.

The event, held in Lagos, brought together key players from different sectors including finance, law, telecommunications, biodiversity, and corporate sustainability to explore actionable pathways to achieve meaningful environmental stewardship in Nigeria.

The panel session offered bold perspectives on integrating sustainability into business frameworks across different sectors, whilst dispelling myths, and highlighting opportunities for organizations, and calling for collective action from all players within the business value chain.

Delivering a keynote address, Titilope Oguntuga, Director, Sustainability at IHS Nigeria, emphasized the urgency of environmental consciousness: “Sustainability is not a destination — it’s a collective journey.

“It requires courage to transform, vision to lead, and collaboration to scale. Nigeria stands at a crossroads. We can either be overwhelmed by the risks or rise to become a beacon of green innovation and inclusive growth in Africa. The choice is ours — and the time is now.”

Sylvie Josel, Lead, Biodiversity and Nature-Based Solutions at the United Nations Global Compact, joined virtually from New York and spotlighted nature as a strategic asset:

“Nature must no longer be treated as an afterthought. It underpins everything, from human rights to supply chains. Embedding biodiversity into a company’s core strategy isn’t just a risk mitigation measure; it’s a smart, future-forward business imperative”.

Lanre Babalola, Group Head, Climate Finance and Sustainability at the Bank of Industry (BOI), provided insights into how BOI is funding sustainable ventures and driving innovation: “We look beyond profitability; we look at environmental and social impact. Whether it’s plastic roads, biogas, or solar transitions, we support businesses that are not only bankable but capable of reshaping the future.”

From the legal perspective, Oyeronke Oyetunde, General Manager, Regulatory Affairs, MTN Group, drew attention to the regulatory challenges hindering sustainability adoption: “Our legal frameworks are trailing behind today’s sustainability realities. We need forward-thinking laws, reduced regulatory silos, and incentives that reward the right behavior. Sustainability can’t thrive where enforcement is weak, and taxation is excessive.”

Abimbola Agbejule, Head, Corporate Sustainability and Responsibility at Wema bank, spoke passionately about inclusiveness in sustainable development: “You don’t need to start big to make impact. MSMEs make up a huge part of our economy. Sustainability should be embedded in their day-to-day activities, and we must democratize access to knowledge, tools, and partnerships.”

The session was moderated by Gloria Okorie, Head of Programs at the United Nations Global Impact Center.

The event closed with a resounding call to action for stronger legal frameworks, deeper collaborations, and inclusive capacity building across sectors. The event further reinforces IHS Nigeria’s position as a leader in corporate sustainability and innovation in Nigeria.

“At IHS Nigeria, we recognize that true progress happens when sustainability is not an obligation, but a culture, lived every day, across every unit,” Titilope Oguntuga added.

Through initiatives like this dialogue, IHS Nigeria and its partners continue to champion solutions that protect the planet, empower people, and ensure long-term business viability.


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Bridging the Digital Divide: Over 700 Young Africans Empowered by Paradigm Initiative

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Paradigm Initiative (PIN), a leading digital rights and inclusion nonprofit, has revealed in its 2024 Annual Impact Report that over 707 young individuals across 11 African countries have been empowered through its flagship LIFE Legacy Programme.

The initiative delivers training in life skills, ICT, financial literacy, and entrepreneurship—transforming underserved communities across the continent.

In 2024, the LIFE Legacy Programme ran 25 training cohorts across Cameroon, DRC, Ghana, Kenya, Senegal, South Sudan, Liberia, Uganda, Tanzania, Zambia, and Zimbabwe. In Senegal, 60 laptops were distributed to local partners, while digital literacy programmes were launched in schools in Cameroon and Tanzania through the LIFE@School initiative.

PIN advanced its advocacy by supporting 29 legal cases in Ghana, Kenya, and Nigeria. A notable success was the landmark judgment in Molehin v. UBA, where the bank was found guilty of violating data privacy laws.

PIN’s research and media efforts made powerful waves. The Londa digital rights report, covering 26 countries, was downloaded 8,457 times. Its fourth short film, Undersight, recorded nearly one million views on YouTube. PIN also developed an AI strategy report with TrustLaw and collaborated with the Centre for Democratic Technology to assess content moderation policies for Kiswahili across Kenya and Tanzania. A separate report highlighted the troubling deployment of surveillance technologies across Africa, which was referenced in direct advocacy engagements with a telecom operator.

The organisation’s advocacy also contributed to the adoption of the African Commission’s Resolution 580, which urges governments to avoid Internet shutdowns during elections—strengthening digital freedom across the continent.

Meanwhile, the Digital Rights and Inclusion Forum (DRIF) convened in Accra attracted 1,004 delegates from 61 countries, strengthening regional collaboration and amplifying the voice of civil society. PIN’s strategic communications pushed its media reach to 1.43 billion and social media engagement to 8.8 million.

Alongside training and policy efforts, the organisation inspired young changemakers through youth-focused campaigns and hosted seven fellows under the Digital Rights and Inclusion Learning Lab (DRILL) fellowship.

Crowning a year of impact, PIN earned the maiden PrivCon Privacy Award in Nigeria and was recognised in the Social Innovation Category at the Nigeria Innovation Awards for its work connecting African youth to digital opportunity.


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