By Nnasom David

A powerful coalition of Nigerian women has launched a bold new campaign to dismantle long-standing financial barriers that continue to block female entrepreneurs from accessing capital. The campaign, titled WEEwa₦tMore, is demanding sweeping changes from Nigeria’s top financial institutions and policymakers.

Despite driving nearly half of the country’s economy, Nigerian women receive less than 10% of loans for small and medium enterprises (SMEs), even though data shows that 95% of loans taken by women are repaid.

The campaign outlines four major demands for Nigeria’s financial decision-makers: “Create and expand dedicated credit funds** exclusively for women entrepreneurs. 

“Reserve and allocate 40% of the national MSME loan portfolio** to women, and reform collateral systems using more inclusive models like cash flow financing. 

“Mandate 30% gender-based lending targets** for all commercial banks through Central Bank regulation. 

“Allocate 50% of all government-supported MSME intervention funds to businesses led by women.”

In a joint statement, the campaign directly called on Central Bank Governor Olayemi Cardoso, Finance Minister Wale Edun, Minister of Trade and Investment Dr. Jumoke Oduwole, and leaders of institutions such as BOI, SMEDAN, and major Nigerian banks to act decisively.

Speaking, actress and entrepreneur Chioma ‘Chigurl’ Omeruah emphasized the urgency:  “Half of our economy is driven by Nigerian women, yet they lack access to capital and loans, making it difficult to expand their businesses. The most important thing to note is that Nigerian women are reliable—as 95% of loans gotten by women are repaid. Yet less than 10% of SME loans go to women. It’s time to step up and fund women’s ambitions.”

Actor and medical professional Jemima Osunde added: “34% of Nigerian women dream of expanding their businesses, but the walls are up against them due to systemic barriers and lack of access to loans or credit. Addressing this funding gap is crucial for women’s economic empowerment and national development.”

According to a Gates Foundation survey, 62% of Nigerian women lack the capital needed to launch or grow their businesses. Economists estimate that leveling the playing field for women could boost Nigeria’s GDP by as much as $229 billion.