Minister of Budget and Economic Planning, Abubakar Bagudu, has argued that women's empowerment is critical to Nigeria's economic growth. Delivering his keynote address at the World Bank Group's Women Empowerment Policy and Jobs Forum in Abuja, the minister emphasized the crucial role women play in driving the country's economy and the need to empower them to increase their productivity.
Addressing Systemic Barriers
Speaking on the theme “Women, Jobs, and Markets: Unlocking Inclusive Opportunities in Nigeria,” Bagudu stressed the urgent need to dismantle systemic barriers that limit women's full potential. He noted that women across Nigeria are deeply engaged in economic activities such as farming, trading, and small-scale production, but their contributions remain largely under-recognized and undervalued.
“The issue before us is not whether women are working hard enough,” he said. “It is whether we are providing them with the right opportunities to succeed.”
Structural Challenges
Bagudu pointed out that many women continue to face structural challenges, including limited access to finance, inadequate market access, and insufficient infrastructure and support systems. These barriers lead to low returns despite long hours of labor, representing not only a social concern but also a significant economic inefficiency.
Strategic Shift Needed
The minister stressed the need for a strategic shift from subsistence-level activities to productivity-driven enterprises. He called for investment in improved production processes, value addition, and better market integration to enable women to scale their businesses and enhance their economic impact.
Bagudu's remarks underscore the importance of empowering women as a catalyst for broader economic growth, aligning with global efforts to promote gender equality and inclusive development.
