Nigeria could gain $400bn by empowering girls, says World Bank

The World Bank has emphasised the economic benefits of gender inclusion, stating that empowering girls could significantly boost Nigeria’s long-term economic growth.

According to the World Bank report, Nigeria could generate more than $400 billion in additional income by 2040 if it invests in adolescent girls.

The Washington-based institution, in a new report, said achieving this milestone would require about $37 billion of targeted investments in education, health, and economic inclusion, positioning girls as a critical lever for long-term growth and productivity.

“Estimates suggest that investing in adolescent girls in Nigeria between now and 2040 could generate more than $400 billion in additional income for a cost of around $37 billion,” the report reads.

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The multilateral said that while Nigeria, a lower-middle-income country, records relatively moderate levels of education and economic participation among girls aged 15-19, ‘significant regional and socioeconomic disparities persist’.

“Girls in the north-west (55.1 percent), north-east (46.4 percent), and north-central (42.2 percent) face much higher levels of vulnerability, including being out of school, unemployed, married, or having children, compared to those in the south.

“In contrast, vulnerability rates are lower in the south-east (21.9 percent), south-west (22.5 percent), and south-south (25.1 percent), reflecting better access to education and economic opportunities,” the report reads.

The report attributed the disparities to poverty, insecurity, and limited infrastructure, especially in northern Nigeria.

“Only 15.9 percent of girls from the poorest households are in school, compared to 62.2 percent from the richest, while 59.3 percent of poor girls are out of school and not working,” the report emphasised.

The World Bank said marriage and childbearing increase “drastically” with poverty, affecting 38.6 percent of the poorest girls, relative to 3.6 percent among the wealthiest.

Despite these challenges, the institution said Nigeria has a major opportunity to unlock growth.

“Investing in adolescent girls today can yield substantial returns by boosting productivity and fostering economic growth,” the organisation said.

While the global bank believes that Nigeria could achieve these gains with about $37 billion, it said similar investments across Africa could generate up to $2.4 trillion in additional income.

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The World Bank recommends region-specific interventions, particularly in northern and rural areas, including expanding access to education, improving healthcare services, and addressing restrictive gender norms.

Besides, it emphasised the need to reduce school costs, expand digital access, and improve economic opportunities through skills development and financial inclusion.

Furthermore, the bank said strengthening legal protections and scaling existing programmes would be critical to improving outcomes.

It highlighted the need for targeted interventions to help reduce inequality and unlock Nigeria’s economic potential.