Vice President Kashim Shettima has implored development partners and other stakeholders to bridge systemic inequalities and foster an inclusive, unbiased financial system that benefits all Nigerians irrespective of gender or geography.
In this regard, he identified some unsettling gaps yawning for serious attention, including low penetration of digital financial services among women, just as he listed some socioeconomic barriers behind these inequalities including low incomes, limited education, and restricted access to financial tools like credit and insurance.
The Vice President gave the charge on Wednesday during the inaugural Development Partners Roundtable on Economic and Financial Inclusion at the Presidential Villa, Abuja.
Shettima, who was represented by the Special Adviser to the President on General Duties (Office of the Vice Presi – dent), Aliyu Modibbo Umar, warned that Nigeria’s vision of building a $1 trillion economy by 2030 would remain an illusion except the private sector and development partners are fully engaged.
He said: “We have come this far because we are continually assessing the extent of economic and financial inclusion in Nigeria.
However, the results of this assessment reveal some disturbing gaps that demand our urgent attention. One such gaps is the low penetration of digital financial services among women—only 23% compared to 43% for men.
This, as we have learned, is driven by socio-economic barriers such as low income, limited education, and restricted access to financial tools like credit and insurance.
Women in the northwest and northeast are particularly disadvantaged. The task before us, then, is clear: to bridge these systemic inequalities and foster an inclusive, equitable financial system that benefits all Nigerians, regardless of gender or geography.”
Shettima however expressed optimism that the inaugural roundtable would provide a fertile ground for meaningful conversation that would “pave the way for a future where every Nigerian is a significant part of the nation’s financial data.”
He added: “This roundtable is yet another important opportunity to harness our collective potential and chart a sustainable path forward. It is designed to provide a holistic view of the obstacles impeding economic and financial inclusion in Nigeria.”
