Only 34% of Nigerian mothers exclusively breastfeed — despite the health and developmental benefits for both mother and child. The barriers are rarely biological. Cultural pressure, misinformation, and lack of support, especially at work, cause many women to stop early. At the same time, formula is expensive — consuming up to 34% of a household’s income, particularly in urban areas.

To address this, Herconomy, Nigeria’s leading women-focused digital bank, launched Breastmilk Money — a financial product that turns breastfeeding into savings.

How It Works

Breastmilk Money is a sub-account within a Herconomy savings account. It estimates how much a mother would have spent on formula and automatically transfers that amount into savings each month. The funds earn 14.3% annual interest – a figure that reflects the documented improvement in child development through breastfeeding.

“When women have the tools to save, invest, and grow their wealth, they gain the freedom to make the best choices for themselves and their families,” says Ife Durosinmi-Etti, CEO of Herconomy.

The initiative also supports the goals of Nigeria’s National Strategic Health Development Plan, which prioritizes maternal and child nutrition.

More Than a Financial Tool

The campaign launched at the Herconomy Summit with the premiere of Milk, a short film by Fariba Buchheim sharing the stories of Nigerian mothers navigating breastfeeding myths and pressure. It features photography by Yagazie Emezi and Nengi Nelson, and will roll out nationwide through media, events, and out-of-home placements. Anyone looking for more information can visit breastmilkmoney.com.

Why It Matters

Breastfeeding reduces infant mortality, infections, and malnutrition — and protects mothers from postpartum complications and cancer. Yet Nigeria’s exclusive breastfeeding rate remains among the lowest in sub-Saharan Africa, particularly in urban working populations.

“Breastfeeding is the most cost-effective intervention we have against childhood malnutrition,” says Dr. Lope Adejuyigbe, lactation consultant and founder of The BestFeeding Club.


By Women, for Women

Breastmilk Money was co-developed by Nigerian women in health, media, and finance, including Titilayo Medunoye and Ogechi Ekeanyanwu, to ensure it is both credible and human-centered.

By recognizing the economic value of breastfeeding, Herconomy is helping mothers save, shift perception, and take control of their financial futures.

https://breastmilkmoney.com