Experts call for 35% female representation in NSE’s top 30, publish gender pay gap reports

….recommends formalisation of the “care economy”

 

Findings from the Reykjavik 2025-2026 Index for Leadership report has outlined several urgent interventions for Nigeria.

The Index measures how women and men are perceived in terms of their suitability for leadership, and measures perceptions of women and men as leaders across 23 economic sectors.

The latest data released at the forum covers the G7 group of countries together with Iceland, Kenya, Nigeria, Netherlands and New Zealand.

Based on the report, experts have calles for a mandatory 35 percent female representation within the top 30 companies on the Nigerian Stock Exchange (NSE), and across federal and subnational executive councils.

In addition, the report recommends that the nation’s top 100 companies publish annual gender pay gap reports and that the “care economy” is formalised through standardised maternity and paternity leave.

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The message of the index is that the Nigerian public is no longer the obstacle to gender parity. Instead, the burden of proof now lies with institutions to prove they are fit for a society that is already prepared for female leadership.

Social readiness outpaces systemic change

According to the Index, Nigeria’s overall leadership readiness score climbed to 59, up from 57 the previous year, meaning that already, a vast majority of the population now expresses confidence in women’s ability to lead.

The data reveals that nearly nine in ten Nigerians state they are comfortable with women serving as CEOs of major companies. Although political leadership sees a slightly lower threshold, a robust 77 percent of the citizenry still supports women at the helm of the state.

Interestingly, this progress is being harnessed by a notable change in mindset among older men, whose growing belief in female leadership drove a three-point increase in the male-specific index.

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A growing divide between belief and reality

Despite record levels of social acceptance, the report highlights a “failure of delivery” within Nigerian institutions. While the public has crossed the threshold of readiness, the workplace environment appears to be regressing.

The index notes a sharp decline in the perception of gender equality, with only 55 percent of Nigerians believing equality actually exists in the professional sphere, a seven-point drop from the 62 percent recorded in 2024.

Analysts suggest this divergence indicates that while progress is visible at “elite” levels of policy and high-profile appointments, the everyday economic conditions for women may be deteriorating.

This trend is further complicated by a unique gender paradox: surprisingly, Nigerian men report more pessimism regarding workplace equality (52 percent) than women (58 percent), suggesting that men may be becoming more aware of systemic barriers even if they do not experience them directly.

The report also categorises the Nigerian economy into “champions” and “laggards,” revealing a complex landscape of professional mobility.

Banking, finance, and pharmaceuticals sectors emerged as leaders, demonstrating that women’s leadership is both scalable and profitable. Significant breakthroughs were also recorded in traditionally male-dominated fields, with the aerospace and automotive sectors seeing gains of nine and six points respectively.

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However, the sectors where women already lead at scale, such as childcare and fashion, remain systemically undervalued.

Despite Lagos being a global fashion hub generating billions of dollars annually, the fashion and beauty sector scored poorly in equity.

Most concerning was the childcare sector, which bottomed out the rankings with a score of 33, a full 40 points behind the banking industry.

The profit vs. power gap
A critical imbalance remains between corporate and political representation. While women have secured nearly 31.1 percent of board seats in Nigeria’s largest firms, they hold fewer than one in twenty seats, just 4.2 percent, in parliament.

This disparity suggests a national framework where women are increasingly trusted with market profits but remain excluded from state power and collective decision-making.