WIMBIZ Conference Tackles Nigeria’s Development Challenges
Mary Nnah
The 24th Annual Conference of Women in Management, Business and Public Service (WIMBIZ) has sounded a clarion call for collective action to unlock Nigeria’s extraordinary potential.
With the country’s future hanging in the balance, the conference brought together women leaders, policymakers, and experts to discuss the critical role of women in driving economic growth, stability, and innovation.
Delivering the keynote address during the first day of the 2-day event, which kicked off yesterday at the Eko Hotel and Suites, Victoria Island, Lagos, Ms. Arunma Oteh, a global leader in financial markets and economic development, emphasised the need for Nigerians to own their journey and take responsibility for their future.
“I believe that the opportunity lies in us taking ownership of our future,” she said. “What does that mean for Nigeria? It means a sense of urgency, and when you want a sense of urgency, I’m getting ahead of myself, you need to bring women in the room”, she said.
Ms. Oteh noted that Nigeria’s development challenges require a sense of urgency and concerted effort, stating, “Nigeria needs to grow by at least 10% in terms of its GDP for an extended period of time.
“China grew for most of 30 years by double digits, which is why it was able to help 800 million people lift themselves out of poverty in 30 years,” she said.
She also emphasised the need for Nigeria to leverage technology and diversify its revenue base. “We need to focus on the fact that we’ve got 40 minerals that can be exploited in commercial quantities,” she said. “Nobody’s focused on the governance issues, the technical issues that will help us dig them out of the ground.”
The WIMBIZ conference highlighted the importance of women’s participation in leadership and decision-making. Ms. Oteh emphasised that increasing women’s participation in public and private-sector leadership is crucial to Nigeria’s development.
“When female leaders are in charge, we make more collective progress on key issues that impact the world. I do believe that women are actually better risk-takers than men”, she said.
She also noted that women have been effective leaders in various fields, citing examples of successful women in business and politics.
The Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu, represented by Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, at the conference, reiterated the government’s commitment to women’s empowerment.
“When women are at the decision table, societies are more stable, economies are more innovative, and outcomes are more sustainable,” he said.
The government has demonstrated an unprecedented commitment to women’s representation in governance, with over 40% of the state’s executive council members being women. “Under my leadership, over 40% of the state’s executive council members are women,” he said. “Occupying key portfolios in commerce, health, agriculture, and education.”
The Chairman of the Presidential Fiscal Policy and Tax Reform Committee, Taiwo Oyedele, also spoke at the conference, highlighting the importance of tax reform in promoting economic growth and reducing the tax burden on small businesses and low-income earners.
“The tax reform is designed to provide relief to the masses and stimulate economic growth,” he said. “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 to small businesses, low-income earners, reduce the tax for the middle class, and lower the prices of goods and services.”
Day one of the WIMBIZ conference concluded with a call to action for women to become more involved in politics, leadership, and decision-making positions. The speakers emphasised the need for collective effort to create a more inclusive and prosperous society, where women can thrive and reach their full potential.
As Ms. Oteh noted, “When women do better, economies do better, and the world becomes a better place for everyone.”
