Business
Lagos Governor seeks more capital for women-led businesses
By Babajide Komolafe
Lagos State Governor, Mr. Babajide Sanwo-Olu, has called for increased capital and coordinated support from government, financial institutions, private equity firms and development partners to bridge the funding gap confronting women-led businesses in Nigeria.
Sanwo-Olu, represented by the Commissioner for Agriculture and Food Systems, Ms. Abisola Olusanya, made the call at the 2026 edition of W.O.M.A.N. — Women in Manufacturing, Agribusiness and Nutrition — conference organised by Alitheia Capital in Lagos.
The governor said women-led enterprises were critical to Nigeria’s economic transformation, stressing that the manufacturing, agribusiness and nutrition sectors create jobs, strengthen food security, deepen local value chains and support industrialisation.
“These are not peripheral sectors. They are sectors that create jobs, strengthen food security, deepen local value chains, support industrialization and build the productive capacity of our people. And increasingly, women are at the centre of that transformation,” he said.
Sanwo-Olu said inclusive economic growth would remain difficult if a significant proportion of the productive population continued to face barriers to finance, infrastructure, knowledge, markets and other opportunities.
According to him, closing the funding gap requires a collective effort by government, financial institutions, private equity and venture capital firms, development partners and the entrepreneurs themselves.
“The government has a role. Financial institutions have a role. Private equity and venture capital have a role. Development partners have a role. And the entrepreneurs themselves must continue to invest in good governance, capacity, transparency and the systems required to build sustainable enterprises,” he said.
He also highlighted initiatives of the Lagos State Government, including the Lagos State Employment Trust Fund, LSETF, the Eko Hub Model for shared infrastructure and the Lagos Fresh Food Hub as mechanisms supporting small businesses and agricultural value chains.
The governor, however, stressed that funding alone would not guarantee sustainable growth.
“Capital is important, but capital must be supported by expertise, sound governance, operational efficiency, access to markets and the capacity to adapt to a rapidly changing global economy,” he said.
The two-day conference, organised by Alitheia Capital, brought together more than 300 screened women-led businesses alongside investors, financial institutions, government agencies and development partners.
Managing Partner and Co-Founder of Alitheia Capital, Tokunboh Ishmael, said most of the participating businesses were revenue-generating and growth-ready but had not accessed formal capital.
