The North-West geopolitical zone has emerged as the region with the highest rate of financial exclusion among women in Nigeria, with a staggering 47% of its population lacking access to both formal and informal financial services.
This alarming revelation was made by the Minister of Women Affairs, Hajiya Imaan Suleiman-Ibrahim, at the opening of the North-West Governors’ Summit on the Nigeria for Women Project (NFWP) Scale-Up, held in Katsina.
The two-day summit, themed “Empowering Her: Advancing Women’s Economic Empowerment Through Regional Collaboration,” brought together state leaders, development partners, and gender advocates to address economic challenges faced by Nigerian women—particularly in underserved regions.
Quoting the 2023 Access to Financial Services in Nigeria (A2F) survey by Enhancing Financial Innovation and Access (EFInA), the minister described the situation as “deeply concerning,” emphasizing that financial exclusion is a key barrier preventing women from lifting themselves out of poverty.
“This financial gap—especially among women—hinders their ability to build economic resilience, invest in productive ventures, and participate meaningfully in national development,” Suleiman-Ibrahim said. “It reinforces the urgency of scaling gender-focused initiatives like the Nigeria for Women Project.”
Currently, 32 states are enrolled in the NFWP Scale-Up, reflecting what the minister called a “national consensus on the centrality of women’s empowerment to Nigeria’s progress.”
“This level of engagement demonstrates that women’s economic inclusion is no longer a peripheral issue,” she noted. “It’s a core development priority embraced across party lines and regional divides.”
Suleiman-Ibrahim further highlighted progress in Katsina and Ekiti states, where grassroots implementation has already begun through the formation of Women Affinity Groups (WAGs). These community-based groups serve as platforms for collective savings, entrepreneurial training, and social support.
“In pilot states, we’ve seen household incomes increase by up to 30% and dependence on informal credit sources drop by more than 40%,” she said.
To extend this momentum, the minister announced that the Federal Ministry of Women Affairs, in partnership with the World Bank, is working to onboard at least eight additional states by the end of July.
Katsina State Governor, Dikko Radda, speaking at the summit, reaffirmed his administration’s support for the project. He revealed that 33,000 women across Katsina, Funtua, and Daura LGAs will benefit from the initiative in the first phase.
Governor Radda also expressed gratitude to the World Bank and federal authorities, noting that the summit marks a significant milestone in regional cooperation for gender equity.
“This project is more than financial inclusion—it’s about giving our women the tools and platforms to transform their communities,” the governor said.