The President of the Lagos Chamber of Commerce and Industry, Engr. Leye Kupoluyi has called for increased support for women in business, emphasising that empowering women entrepreneurs is essential for Nigeria’s economic growth and competitiveness.
Kupoluyi made the call while speaking at an International Women’s Day event organised by the LCCI Women Group in Lagos.
The event, themed ‘Give to Gain – The Power of Contribution, Collaboration and Impact’, focused on the importance of collaboration, mentorship, and shared opportunities among women in business.
According to him, sustainable economic and social progress is achieved when individuals contribute their talents, knowledge, and resources toward collective advancement.
He noted that women continue to demonstrate remarkable leadership, resilience, and innovation across Nigeria’s business landscape, adding that the Chamber remains committed to supporting women-led enterprises across various sectors of the economy.
Kupoluyi said global evidence shows that empowering women is not only a social necessity but also an effective economic strategy.
He cited data from the World Bank which indicate that closing gender gaps in employment and entrepreneurship could increase global GDP per capita by nearly 20 per cent.
“For emerging economies such as Nigeria, unlocking the full productive potential of women is not simply desirable; it is essential for achieving sustainable economic growth, improving household welfare, and strengthening national competitiveness,” he said.
He also referenced research by the Mastercard Center for Inclusive Growth, which indicates that about 83 per cent of Nigerian women identify as entrepreneurs, one of the highest rates globally.
According to him, the statistic reflects the determination of Nigerian women to build enterprises, create jobs, and generate wealth despite various structural challenges.
Also speaking, the Commissioner for Commerce, Cooperatives, Trade and Investment, Lagos State, Mrs Folashade Ambrose-Medebem, said International Women’s Day is not merely a ceremonial occasion, stressing that it is a moment for reflection, recognition, and renewed commitment.
She noted, “It reminds us that sustainable economic progress cannot occur without the full participation of women in commerce, enterprise, and innovation.
“The theme of this year’s celebration embodies the spirit of collective advancement that drives thriving societies and economies.
“Around the world, women have demonstrated extraordinary resilience, creativity, and leadership in business and industry.
“In Lagos State, we are proud to witness women building enterprises, creating employment, driving innovation, and strengthening our economic ecosystem.”
She stressed that women entrepreneurs operate across diverse sectors, including manufacturing, technology, agriculture, the creative industry, trade, and services.
“Their contributions continue to inspire opportunities and nurture the next generation of leaders.
“Beyond their economic impact, women also play a transformative role in shaping communities and strengthening social structures. Many balance the responsibilities of business leadership with family, mentorship, and community development.
“Their influence often extends beyond profit into areas of social support, education, and empowerment. When women succeed, the ripple effects are felt within households, communities, and the wider economy.
“Yet, despite this progress, many women still face barriers that limit their full participation in business and leadership. These challenges include limited access to finance, restricted networks, unequal opportunities, and structural obstacles that slow growth,” Ambrose-Medebem averred.
Earlier, the Chairperson of the LCCI Women’s Group, Mrs Olufemi Ogun, emphasised the importance of collaboration, mentorship, and shared opportunities among women in business as key drivers of growth and lasting impact.
Speaking during the Lagos Chamber of Commerce and Industry International Women’s Day celebration in Lagos, Ogun noted that the annual global event provides an opportunity to celebrate the achievements of women while also addressing persistent challenges affecting them across societies.
She stated that International Women’s Day has evolved into a global annual event since it was first celebrated in the United States on 28 February 1909, as part of a labour movement.
“It was officially recognised by the United Nations in 1977, with 8 March declared as a day to promote women’s rights and world peace, as well as to recognise justice and dignity for women worldwide.
“Today, the day is widely observed to celebrate women’s achievements across industries while also serving as a call to action to address ongoing issues such as gender inequality, violence against women, and reproductive rights,” she stated.
Addressing participants at the event, Ogun said International Women’s Day provides an important moment to pause, reflect, and celebrate the progress women have made across various sectors, while also reaffirming the need to build stronger pathways for the next generation.
She noted that the theme of the event highlights a fundamental principle in leadership and business development.
“In a chamber environment such as ours, this principle becomes even more meaningful,” Ogun said.
“When women share their expertise, open doors for one another, mentor emerging professionals, and collaborate across sectors, we create a multiplier effect that benefits not only individual businesses but also the broader economic ecosystem,” she added.
The guest speaker for the event, Mrs Mosun Olusoga, said when individuals and institutions give support, resources, opportunities, and even something as simple as good nourishment to women, society benefits through overall progress and inclusion.
She pointed out that in a country like Nigeria, where about 50 per cent of the population is female, it would be a great disservice not to fully harness the contributions these women can bring to the table.
“Why is this important? Because equality must be protected through law and policy. That is why I support the new policy the National Assembly is proposing to ensure that a certain number of legislative seats are reserved for women. This will help improve representation.
“In recent years, women’s representation in our legislative system has been very poor. At one point we had about 15 per cent, which many people already considered low. Over time, that number dropped to nine per cent and then six per cent.
“In the current National Assembly, women make up only about 3.8 per cent. I believe we have just four female senators. That level of representation is clearly inadequate,” she added.
