Financial independence is more than just earning an income, it is about control over financial decisions and long-term security. Yet, read more Savings, not loans: How Nigerian women rely on personal funds for financial security
A BusinessDay poll revealed that Nigerian women prioritize savings over loans for financial security due to limited access to funding, financial discrimination, and lack of financial education. While many are confident in managing finances, a significant portion lacks confidence, highlighting the need for better financial literacy. Women rely on budgeting, investing, and side businesses, and prefer using savings for emergencies due to difficulties accessing institutional support. They desire early financial advice on investing and planning. Suggested societal changes include increased access to affordable loans and education, reduced family financial burdens, more women in leadership, and supportive workplace policies.