African Development Bank has approved a $61 million financing package for Nigeria aimed at expanding access to credit for women-owned enterprises, with a focus on agriculture and small and medium-sized businesses.

The funding is expected to support financial inclusion initiatives targeting women entrepreneurs who continue to face significant barriers in accessing commercial loans across Africa’s largest economy.

According to the initiative, the facility will help unlock financing for women-led businesses in key productive sectors, particularly agriculture, which remains a major employer in Nigeria.

The programme aligns with the AfDB’s broader strategy under its Affirmative Finance Action for Women in Africa (AFAWA) initiative, designed to close the financing gap for women entrepreneurs across the continent.

Nigeria is one of the largest beneficiaries of AfDB-supported gender-focused financing programmes, reflecting its large informal sector and the growing number of women-led micro and small enterprises.

The bank said improved access to credit is expected to strengthen business growth, job creation, and economic resilience among women entrepreneurs.

Agriculture remains a priority sector under the initiative, as many women in Nigeria are active in farming, food processing, and agribusiness value chains.

The AfDB has increasingly focused on gender-responsive financing as part of its broader development agenda aimed at boosting inclusive economic growth and reducing poverty across Africa.