The Bank of Industry (BOI) has provided N108 billion in loans to 912 women-owned businesses, reinforcing its commitment to closing the gender gap in entrepreneurship.
Speaking at BOI’s International Women’s Day 2025 event themed “Accelerate Action,” Managing Director Dr. Olasupo Olusi acknowledged progress in gender equality but highlighted ongoing challenges, particularly in access to financing.
Citing the 2024 Global Gender Gap Index, Olusi noted that full gender equality is projected for 2158 at the current pace, underscoring the need for intensified efforts. Nigeria improved its ranking from 139th place in 2023 to 125th in 2024.
To address financial disparities, BOI has increased funding for women-owned businesses from 7% to 15%. It has also introduced gender-inclusive initiatives, such as the Women Entrepreneurs Finance Initiative (We-Fi) Code, in collaboration with the CBN and DBN, and a $50 million Partial Risk Guarantee (PRG) with the African Guarantee Fund (AGF) to de-risk lending and support green MSMEs.
