Nigeria’s Private Sector Launches NGCP to Catalyze Gender-Inclusive Economic Growth
Nigeria’s private sector is taking a decisive step toward fostering inclusive economic growth by launching the Nigeria Gender Country Programme (NGCP), a strategic initiative designed to integrate gender equality as a core driver of business competitiveness, investment, and long-term prosperity. Backed by the International Finance Corporation (IFC), a member of the World Bank Group, the program is implemented in partnership with Nigerian Exchange (NGX) Group Plc and the Lagos Chamber of Commerce and Industry (LCCI).
The NGCP builds on the momentum generated by the CEO Roundtable held in June 2024 and the earlier Nigeria2Equal initiative, shifting from conceptual discussions to practical, measurable gender-smart business practices. By aligning advisory expertise, funding, and strategic partnerships, the program aims to:
– Strengthen women’s representation in leadership roles across Nigerian businesses.
– Expand access to quality employment for women and women-led enterprises.
– Enhance financial inclusion by improving access to capital, technology, and markets for female entrepreneurs.
Economic Imperatives and Research-Backed Justifications
The economic rationale for the NGCP is compelling. Research indicates that closing gender gaps in leadership, employment, and entrepreneurship could inject an estimated $22.9 billion annually into Nigeria’s economy. This figure underscores the business imperative behind gender inclusion, positioning it as a productivity booster, innovation catalyst, and sustainability driver for Nigeria’s economic trajectory.
Umaru Kwairanga, Chairman of NGX Group, emphasized the transformative potential of the initiative:
“Advancing women’s economic participation is no longer a social aspiration—it is a business imperative. Through the Nigeria Gender Country Program, we are creating a framework that will help businesses strengthen leadership, expand opportunities, and unlock the inclusion dividend for Nigeria’s economy.”
The program’s success hinges on collaborative action among the private sector, government, and development partners. Olivier Buyoya, IFC’s Division Director for West and Central Africa, highlighted the global trend of gender-inclusive growth:
“Economies grow faster, and businesses perform better when women have equal opportunities to participate, lead, innovate, and succeed. The NGCP brings together private sector leaders, capital markets, and development partners to turn this opportunity into stronger business performance and more inclusive growth.”
Government and Institutional Support
The initiative has garnered strong backing from key stakeholders. Lagos State, through Commissioner for Commerce, Cooperatives, Trade, and Investment Folashade Ambrose-Medebem, reaffirmed its commitment to fostering an enabling environment for women-led businesses. Similarly, Minister of Women Affairs Imaan Sulaiman-Ibrahim (represented by Ms. Aishatu Digili) called for heightened collaboration between government, development institutions, and the private sector to accelerate women’s economic empowerment.
The Securities and Exchange Commission (SEC) also endorsed the NGCP, recognizing it as a platform for deepening innovation and knowledge-sharing in inclusive market development. Frana Chukwuogor, Executive Commissioner for Legal and Enforcement at SEC, stated:
“The Commission welcomes the NGCP as a critical step toward inclusive market development. We commend IFC’s leadership in promoting gender-inclusive private sector growth and its partnership with Nigeria in strengthening our financial ecosystems.”
NIMC’s Ambitious National Identity Enrollment Drive Under Tinubu’s Directive
President Bola Tinubu has issued a mandatory directive to the National Identity Management Commission (NIMC) to ensure every Nigerian is enrolled in the national identity database by the end of 2026. This deadline is part of the federal government’s broader strategy to establish a comprehensive national identity system that will underpin effective governance, service delivery, and economic planning.
Abisoye Coker-Odusote, NIMC’s Chief Executive, revealed the directive during an interview on Channels Television’s Sunday Politics, clarifying that the agency is collaborating with World Bank-supported partners under the Identification for Development (ID4D) project to accelerate nationwide enrollment.
Key Objectives and Implementation Strategies
- Universal Enrollment: NIMC is deploying front-end partners—private entities enabled to enroll citizens on behalf of the government—to reach remote communities. This decentralized approach ensures no Nigerian is left behind.
- Biometric Security: The National Identification Number (NIN) remains a unique identifier, preventing duplicate registrations. Biometric verification, including fingerprint and facial recognition, ensures fraud-resistant identity confirmation.
- Population Clarity: Nigeria’s actual population remains uncertain, with estimates ranging from 200 million to 250 million. A complete identity database will provide accurate demographic data for national planning.
- Legal Reinforcement: The newly enacted NIMC Act 2026 (signed into law on June 26, 2024) solidifies the “One Person, One Identity” policy, making the NIN the foundational credential for accessing:
- Government services (e.g., banking, passport applications).
- Private sector services (e.g., consumer credit, land transactions).
- Essential utilities (e.g., pensions, tax administration).
The law also introduces stricter penalties for identity theft, multiple registrations, and unauthorized data access while strengthening data privacy protections.
Technological Integration and Future-Proofing
NIMC is leveraging API integration to ensure seamless identity validation across public and private sectors. For instance, telecommunications companies now use NIMC’s biometric database to verify SIM card applicants in real-time, reducing fraud and enhancing security.
Coker-Odusote underscored the long-term benefits:
“Your identity is the foundation for effective governance. Without accurate population data, how can we plan infrastructure, healthcare, or education? The NIN ensures that every Nigerian is accounted for, and their identity is protected.”
SERAP Challenges INEC Over Alleged N800 Billion Campaign Fund Diversion
The Socio-Economic Rights and Accountability Project (SERAP) has filed a high-profile lawsuit against the Independent National Electoral Commission (INEC), accusing governors from the All Progressives Congress (APC) of diverting N800 billion from the Federation Account Allocation Committee (FAAC) to finance political campaigns, allegedly in support of President Bola Tinubu’s 2027 re-election bid.
The suit, marked FHC/ABJ/CS/1426/2026, was filed at the Federal High Court in Abuja on June 2024, seeking:
1. An order of mandamus compelling INEC to investigate the allegations.
2. Full disclosure from the governors and APC on campaign fund sources, including donor identities.
3. Compliance review under Section 91 of the Electoral Act, which regulates political donations and campaign financing.
Legal and Democratic Concerns
SERAP’s lawyers, Kolawole Oluwadare and Kehinde Oyewumi, argued that the alleged diversion undermines electoral fairness, transparency, and public trust. The organization contended:
“The abuse of state resources for electoral advantage undermines democratic integrity. Fairness, transparency, and accountability in campaign finance are essential to safeguard against corruption and state capture.”
Under the Electoral Act, political parties exceeding donation limits face fines up to ₦10 million, while individuals risk penalties of five times the excess contribution. SERAP asserted that INEC has a constitutional duty to investigate such violations to preserve the integrity of the 2027 general elections.
INEC Extends Candidate Submission Deadline for 2027 Elections
Amidst growing scrutiny over campaign financing, INEC has extended the deadline for political parties to submit candidate credentials for the 2027 presidential and National Assembly elections. The original cutoff date of July 11, 2024, has been pushed back to midnight on July 14, 2024, following appeals from parties facing technical challenges.
Mohammed Haruna, INEC’s National Commissioner and Chairman of the Information and Voter Education Committee, explained:
“The extension was granted based on a formal appeal from the Inter-Party Advisory Council (IPAC), representing parties that struggled to meet the initial deadline. We aim to ensure all eligible candidates can comply while adhering to legal frameworks.”
The commission urged parties to leverage the additional time to finalize submissions, emphasizing that compliance is non-negotiable for a credible electoral process.
Note: This article consolidates critical developments in Nigeria’s economic, governance, and electoral landscapes, emphasizing gender inclusion, national identity reform, and electoral transparency.
