Nigeria’s most pressing development challenges require an immediate sense of urgency, with female leadership being the key ingredient for success, according to leading global finance expert Ms. Arunma Oteh. Speaking at the 24th Annual Conference of Women in Management, Business and Public Service (WIMBIZ) in Lagos, Ms. Oteh delivered a clarion call for Nigerians to “own their journey” and take responsibility for the future.
The former Vice President and Treasurer of the World Bank Group emphasised that Nigeria’s current economic trajectory is insufficient. “Nigeria needs to grow by at least 10% in terms of its GDP for an extended period of time,” she stated, citing China’s decades of double-digit growth which lifted 800 million people out of poverty.
Ms. Oteh argued that bringing women into leadership is crucial to achieving this ambitious target, noting that when female leaders are in charge, there is more collective progress. She even suggested that women are “actually better risk-takers than men.” Beyond leadership, she pressed the economic need for Nigeria to immediately leverage its vast natural resources. “We need to focus on the fact that we’ve got 40 minerals that can be exploited in commercial quantities,” she said, stressing that attention must be paid to the governance and technical issues required to extract these for national revenue diversification.
The conference, which brought together women leaders and policymakers, was also attended by the Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, represented by Commissioner Mrs. Folashade Bada Ambrose. The Governor reiterated the government’s commitment to women’s empowerment, declaring, “When women are at the decision table, societies are more stable, economies are more innovative, and outcomes are more sustainable.” He highlighted that over 40% of the state’s executive council members are women, occupying key portfolios.
Adding to the economic focus, Taiwo Oyedele, Chairman of the Presidential Fiscal Policy and Tax Reform Committee, spoke about the government’s efforts to create an enabling environment. He explained that the ongoing tax reform is designed to provide relief to the masses and stimulate economic activity by offering significant breaks to small businesses and low-income earners. “When you own your story, you find out about the credible data because these tax reforms are actually coming to provide a lot of relief,” he said.
The conference concluded with a unified message: collective effort is needed to create a more inclusive and prosperous society. As Ms. Oteh summarised, “When women do better, economies do better, and the world becomes a better place for everyone.”
