Market Analysis

Gender Equality in Nigeria’s Private Sector: A Gender Gap Assessment of the 30 Most Capitalized Companies Listed on the Nigerian Exchange (NGX)

September 20, 2021

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More women have made it to the top of Nigerian companies as CEOs and chairpersons of boards than in some G20 countries.  However, there are persistent gender gaps at the company leadership level, in the workforce, and in supply chains, which impacts women’s ability to participate equally as men in Nigeria.

To understand the extent of gender gaps in Nigeria’s private sector, IFC undertook this independent assessment of the 30 most capitalized publicly listed companies on the Nigerian Exchange (NGX), formerly the Nigerian Stock Exchange, using the proprietary Equileap Scorecard.

The study aimed to deepen market specific data on the evidence for the business case and show emerging best practices, or challenges, for closing gender gaps in Nigeria’s private sector. It also spotlights private sector companies leading the way in gender equality performance and underscores priority issues that promote or hinder women’s participation as leaders, employees, and entrepreneurs.

The findings set the context for IFC’s Nigeria2Equal Peer Learning Platform, which brings together leading companies to make specific, measurable, and time-bound commitments to increase women’s participation in Nigeria’s private sector by 2023.

This report explores the state of gender equality in Nigeria’s private sector. It helps take stock of progress and has identified areas that need attention, not only by the 30 companies assessed, but also by the broader corporate community as well as policymakers, civil society organizations and investors looking to add a gender-lens to their investment processes while adding value to listed companies. 

We hope that it inspires Nigeria’s private sector to identify priority areas for attention—and commit to closing gender gaps.