- Gender diversity has become a core governance and business strategy in Nigeria, with all NGX-30 companies now having at least one woman on their boards.
- NGX Group supports inclusion through initiatives like EquipHER and partnerships such as Nigeria2Equal, helping thousands of women advance in the capital market and corporate leadership.
- Women now hold 31.1% of board seats among top listed firms, with five female CEOs leading NGX-30 companies, marking record progress in gender representation.
Gender equity is no longer merely a moral cause in corporate Nigeria; it has become central to governance, profitability, and long-term business resilience, according to Temi Popoola, Group Managing Director and Chief Executive Officer of Nigerian Exchange Group (NGX Group).
Speaking at the 2025 WIMBIZ Annual Conference, Popoola highlighted that for the first time, none of the NGX-30 companies has an all-male board, a milestone reflecting increasing gender balance across Nigeria’s largest listed firms. “Inclusion is a fundamental pillar of strong governance and a driver of superior business outcomes,” he said. “Gender-diverse boards deliver better oversight, stronger ethical judgment, and greater investor confidence.”
His remarks echoed the keynote address by Dr. Arunma Oteh, OON, Chairperson of the Royal African Society and Academic at the University of Oxford, who called on women to take greater ownership of the nation’s progress. “Female participation is critical, and smart, for the country,” she said. “Let us own Nigeria’s journey and do our best to safeguard its legacies.”
Popoola emphasized that fostering inclusion must begin at the foundation. “It starts from the entry level,” he said. “When we give women opportunities early, we empower them to grow into leaders in their fields. Leadership is built, not bestowed.”
To support this, NGX drives EquipHER, an initiative by NGX Regulation Limited that equips women in the capital market through education, mentorship, and increased participation. The programme promotes financial literacy, investor protection, and confidence in wealth creation, helping women progress from first-time investors to market leaders.
NGX Group has also made gender inclusion a strategic priority across the Exchange, aligning with the UN Sustainable Stock Exchanges Initiative and the UN Women’s Empowerment Principles. It is the first exchange group to earn the Economic Dividends for Gender Equality (EDGE) certification and actively participates in the Ring the Bell for Gender Equality initiative alongside stock exchanges worldwide, UN Women, and the UN Global Compact.
Through its partnership with the International Finance Corporation (IFC) under the Nigeria2Equal programme, NGX has helped 18 listed companies close gender gaps across leadership and workforce levels, benefiting more than 49,000 employees. This structured approach, combined with initiatives like EquipHER, is reflected in measurable progress across the market.
According to the 2025 PWR Advisory NGX-30 Board Gender Diversity Scorecard, women now hold 31.1 per cent of board seats among the top 30 listed companies, up from 29.7 per cent in 2024, while five firms are now led by female chief executives, the highest number on record.
Looking ahead, Popoola reaffirmed the exchange group’s commitment to working with regulators, partners and stakeholders to strengthen disclosure standards, expand leadership pipelines, and embed gender equity across corporate Nigeria. “Our goal is simple,” he said. “One day, women’s inclusion will no longer be a special initiative, it will simply be how corporate Nigeria operates.”
