Women now occupy 31.1 percent of board positions across Nigeria’s 30 largest publicly listed firms—marking the highest level of gender representation since the PWR Advisory NGX-30 Board Gender Diversity Scorecard was introduced in 2020.
The 2025 report, unveiled yesterday at an event in Victoria Island, Lagos, also revealed a major milestone: for the first time, none of the NGX-30 companies has an all-male board.
According to the findings, five companies are currently led by female chief executive officers, while three have female board chairs—indicating steady progress in gender inclusion and corporate governance within Nigeria’s capital market.
Speaking at the launch, Ivana Osagie, Founder and Chief Executive Officer of PWR Advisory, described the achievement as both encouraging and instructive.
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“Women now hold 31.1 percent of board seats at Nigeria’s 30 largest listed companies—the highest since we began tracking this data,” Osagie said. “For the first time, no company in our sample has an all-male board. These are not just statistics; they represent real change. When commitment meets determined action, results follow.”
However, Osagie cautioned that representation alone is not enough, emphasizing the need for women to occupy positions of real influence across board leadership and decision-making committees.
“Representation without power and influence is a fragile victory,” she added. “Diversity without inclusion remains unfinished work.”
The sixth edition of the annual Board Gender Diversity Scorecard ranked Transcorp Hotels Plc highest with 57.1 percent female representation, followed by Access Holdings Plc and Stanbic IBTC Holdings Plc, both achieving 50 percent.
