A critical examination of the lack of data on women-owned businesses in Nigeria's procurement landscape, highlighting the urgent need for transparency and policy reform.
For two decades, efforts have focused on counting seats, but spending remains untracked. A pivotal shift occurred when Arese Ugwu was appointed Acting Managing Director and Chief Executive of NASD Plc, Nigeria’s alternative securities exchange, pending confirmation by the Securities and Exchange Commission. This appointment, while notable for its gender representation, underscores a broader systemic gap: the absence of comprehensive data identifying female founders and tracking their ownership over time.
Ugwu confirmed the long-suspected reality: no centralized dataset exists to map female ownership in Nigerian businesses. While company registration data is available through the Corporate Affairs Commission, it lacks the granularity to reveal ownership structures. Her acknowledgment that such a dataset
signals a potential turning point. Yet, the question persists: where are the contracts that could transform women-led enterprises into scalable ventures?
The inquiry began with a simple request: a list of 100 Nigerian businesses owned by women generating serious revenue. While smaller enterprises were easily identified, scaling up proved elusive. Many women-run businesses—ranging from multi-location salons to manufacturing firms—operate in sectors overlooked by traditional metrics. These enterprises, though structured and profitable, remain invisible in national economic narratives.
Women entrepreneurs responded not with agreement but with urgency. Lenders, founders, and industry players shared insights about the challenges beyond capital. They questioned what comes after funding, emphasizing the need for access to large-scale contracts. Revenue, not encouragement, drives growth, and in Nigeria, such revenue hinges on procurement budgets from banks, telcos, oil and gas majors, and government agencies.
The critical question remains unasked in Nigeria: what proportion of large corporate and government spending flows to women-owned businesses? While employment and board representation are measured, the allocation of contracts—where serious capital resides—remains unaccounted for. This gap perpetuates economic inequity, as women-led enterprises struggle to secure the deals that could elevate their impact.
Global data reveals a stark disparity: women own roughly one-third of firms worldwide, yet receive less than 1% of public procurement spending. This chasm highlights the difference between economic presence and financial inclusion. For private sector buyers, the absence of published figures on women-owned contracts is not a research gap but a systemic omission.
Two challenges emerge: transparency and opportunity. Publishing procurement data with women-owned businesses could catalyze change, but it addresses only one layer. The deeper issue lies in access to networks and relationships that determine contract allocation. As one entrepreneur noted,
Proximity, not just merit, shapes success. Women must be placed in sustained proximity to decision-makers to secure opportunities.
This requires deliberate infrastructure, not just networking events. Nigeria’s Bureau of Public Procurement is advancing a National Affirmative Procurement Policy set for 2026, while Kaduna State has already implemented a gender-responsive framework reserving public contracts for women-owned businesses. These initiatives, though promising, face hurdles without baseline data to measure progress.
The policy’s effectiveness hinges on two critical questions: What is the starting point for measurement? And how is
defined? Current proposals require 51% ownership or operational control, but the distinction matters. A woman may lead a male-owned firm, yet this does not equate to ownership. Without precise definitions, policies risk addressing symptoms rather than systemic barriers.
The call for transparency is modest but urgent. Agencies must publish baseline data before implementing the policy, and private sector giants—banks, telcos, and manufacturers—should disclose their spending with women-owned businesses in annual reports. This data, if published, would hold institutions accountable and reveal disparities that demand action.
Contracts are the linchpin of wealth accumulation, determining access to capital, assets, and influence. While women now occupy seats in decision-making spaces, true equity requires stakes—ownership through contracts, titles, and capital. The current focus on representation must evolve into measurable outcomes.
The urgency is clear: Nigeria’s procurement policies are advancing without the data to guide them. Institutions claiming to support women’s advancement must demonstrate transparency in their spending. The question is no longer about seats but about the tangible impact of contracts on economic equity.
The path forward demands accountability, precision, and a reimagining of how opportunity is distributed. Without data, policies remain aspirational. With it, Nigeria could bridge the gap between inclusion and equity, ensuring women-led businesses are not just visible but valued in the economy.
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The journey to economic equity begins with transparency. Until institutions publish the spend, the conversation remains theoretical. The time for action is now.