Prof Mondy Gold on Thursday advised the country to leverage on the entrepreneurial potentials of women for economic development.

Gold, Professor of Finance, Colorado State University in United States made the call while speaking during the Inter-University Summit at the Bayelsa Medical University.

Gold spoke on Gender Dynamics in Financial Access, Investment, and Economic Empowerment: Closing the Gap in Nigeria.

“As we delve into this subject, it is essential to recognize the dynamic role that Nigerian women are playing in the entrepreneurial landscape.

“From technology and agriculture to fashion and healthcare, women are establishing businesses across a diverse range of sectors.

“However, despite their significant contributions, Nigerian women face disproportionate barriers that impede their full economic participation.

“For any country to develop, its economy and financial sectors must be championed by visionary, innovative, and goal-oriented individuals,” Gold said.

He explained that entrepreneurship potential of women is evident in developed nations such as China, Australia, Germany, United States of America, United Kingdom, Canada, and Japan.

He noted that the listed countries have achieved unprecedented success through the development of entrepreneurship amongst the female gender.

“These countries are reaping the benefits of the creativity and drive of women entrepreneurs.

“In stark contrast, women entrepreneurs in emerging countries like Nigeria have not triumphed due to numerous challenges posed by the environment,” he said.

He listed obstacles before women as limited access to capital and financial planning, streamlined information, the need for tailored business skills education.

Gold noted that also direct connections to mentors and networks are pervasive.

According to him, these issues are further exacerbated by skills gaps and entrenched social norms that inhibit women’s full participation in economic life.

He said that research consistently shows that boosting women’s economic participation enhances national economies.

According to him, it also improves household productivity, living standards, and overall well-being.

“Nigerian women’s businesses are pivotal in driving job creation, promoting innovation, and fostering a more inclusive and equitable economy.

Gold recommended that to harness the full potential of women entrepreneurial endeavours, the country create more viable national organisations to support women.

He recommended the creation of state chambers of commerce representing the interests of all women entrepreneurs and support savvy women with a keen eye for success across all industries.

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