Nigeria’s economy risks missing a major engine of growth unless women-led micro, small and medium enterprises (MSMEs) receive the financing and market support needed to scale, the Development Bank of Nigeria (DBN) has warned.
DBN gave the warning as it showcased high-potential female founders at the Women Investment Readiness Accelerator (WIRA) Demo Day held in Ilupeju, Lagos.
The event, organised with the support of Agence Française de Développement (AFD) and Sterling One Foundation, positioned women-owned businesses as critical drivers of national productivity, noting that despite owning nearly 60 per cent of Nigeria’s SMEs, women still receive disproportionately low access to capital, mentorship and structured market opportunities.
According to the organisers, the Demo Day marked the end of a rigorous accelerator programme funded by DBN. The programme provided women entrepreneurs with practical training, mentorship and direct business development support in sectors such as agriculture, food processing, waste management, retail, technology, fashion and other impact-focused industries.
It also featured a pitch showcase, where selected founders presented refined and scalable business models to investors, financial institutions and business support organisations. For many participants, the session marked their closest pathway yet to funding, partnerships and expansion, opportunities made possible through DBN’s sustained investment in strengthening the nation’s MSME landscape.
Speaking at the event, DBN Managing Director and Chief Executive Officer, Dr Tony Okpanachi, said the presentations demonstrated why women entrepreneurs must remain a strategic priority in national economic planning.
He said what was witnessed confirmed that investing in women yields measurable economic and social impact, stressing that their businesses are innovative, resilient and positioned for scale.
He added that DBN remains committed to ensuring women-led enterprises receive financing as well as access to knowledge, networks and market opportunities that strengthen long-term sustainability and growth.
Chief Executive Officer of Sterling One Foundation, Olapeju Ibekwe, said the women showcased were tackling real market challenges with creativity and determination.
She noted that potential alone is not enough and that support, connections and capital are essential. Ibekwe explained that WIRA was designed to close the financing and opportunity gap by providing guidance, confidence and access, adding that the pitches reflected what becomes possible when women are empowered to lead boldly.
“The women we celebrated today are solutions-builders. They are tackling real challenges with creativity and determination. But potential alone is not enough; support, connections, and capital are essential.
“Through WIRA, our goal has been to close the financing and opportunity gap by providing more than training; we provided guidance, confidence, and access. Today’s pitches are proof of what happens when women are empowered to take up space and lead boldly,” Ibekwe explained.
Investor partners and support organisations present the showcased ventures as viable and investment-ready, with several founders advancing to follow-up funding and advisory conversations.
