President of the Institute of Professional Economists and Policy Management (IPEPM), Prof. Kenneth Ife, has said that closing gender gaps and fully unlocking women’s economic potential could add $12 trillion to the global economy.

He warned that Nigeria cannot achieve inclusive or sustainable growth without prioritising women’s participation. Ife spoke during the launch of the Women in Economics and Development Foundation (WEDF), themed “A Catalyst for Inclusive Growth and Sustainable Development”, and the unveiling of the organisation’s empowerment programme in Abuja

Meanwhile, Founder of WEDF, Dr Annette Mubarak, said that the Foundation emerged from a burning desire to see women rise as catalysts for economic transformation and digital innovation.

She noted that women’s contributions from the classrooms, corporate offices, or ministries have often been undervalued. Mubarak, who said the Foundation’s programme would focus on capacity development, mentorship, entrepreneurship, access to finance, and policy advocacy, described the initiative as the beginning of a revolution of minds, opportunities, and transformation, reiterating that women are not waiting for change; they are the catalysts of change.

Ife, a global economic analyst, noted that women contribute 43 of agricultural labour and represent one in three businesses, yet they receive less than 10 per cent of available venture capital.

He lamented that in Nigeria, women constitute roughly 49 per cent of the population, but hold only 22 per cent of senior economic leadership positions.

The don, therefore, warned that these structural inequities come at a high cost, saying that closing the gender gap in economic participation could contribute an additional $12 trillion to global economic output.

He also stressed that improving gender parity could strengthen governance and national economic resilience, saying that countries with more equitable participation of women in economic decision-making experience higher GDP growth and progress toward Sustainable Development Goals (SDGs), including poverty reduction, gender equality, decent work, and strong institutions.

Ife, however, urged policymakers, institutions, and private sector actors to create platforms and strategies that would integrate women into key economic decision-making spaces, saying that unlocking women’s economic power is central to Nigeria’s growth and Africa’s development.

He said: “The opportunity of unlocking women’s economic power allows you to boost GDP, give you stronger SMEs, create more resilient households, increase employment and also improve governance.”