NESG: $26b Can be Recovered if Nigeria Closes Gender Inequality Gap

Kuni Tyessi in Abuja

As the fight for gender inequality and inclusivity is on the rise, the Nigerian Economic Summit (NESG) has revealed that the country stands to recover $26 billion of estimated loss if the existing gap can be closed.

The Chief Executive Officer(CEO) of NESG, Mr. Laoye Jaiyeola, who made the disclosure, at a pre- summit in collaboration with the Policy Innovation Centre (PIC), said available data showed that on a per capita basis, gender inequality in terms of earnings could lead to a loss of $23,620 per person globally, and with an estimated global loss of about $160.2 trillion in human capital wealth.

He said the summit, which is aimed at creating more awareness on gender parity, will cut across all facets of all to include sociopolitical and economic and with the intention to create awareness on modalities that will lead to financial gain per person.

He added that according to the World Economic Forum of 2021, Nigeria ranks 139 of 149 countries on the global gender index ranking, which he reiterated, has put the nation in bad light amongst the comity of nations.

“Data shows that on a per capita basis, gender inequality in earnings could lead to a wealth loss of $23,620 per person globally, with an estimated global loss of about $160.2 trillion in human capital wealth.”

“$26 billion of this (estimated loss) could be recovered if Nigeria is able to close her existing gender inequality gap.

“As Nigeria gets set to host a mega gender summit, stakeholders have insisted that unless men, women and the vulnerable are involved, attaining gender parity could be a mirage.”

Deputy Director, PIC, Dr. Osasuyi Dirisu, observed that gender inequality not only affects women but also men and people with disabilities, whenever they are discriminated against or marginalised in terms of job opportunities, political or public office considerations and economic opportunities.