Economy
New data show massive, wider-than-expected global gender gap as women enjoy just two-thirds of legal rights men enjoy—WBG
The global gender gap for women in the workplace is far wider than previously thought, a groundbreaking new World Bank Group report shows. When legal differences involving violence and childcare are taken into account, women enjoy fewer than two-thirds the rights of men. No country provides equal opportunity for women—not even the wealthiest economies. The latest Women, Business, and the Law report offers a comprehensive picture of the obstacles that women face in entering the global workforce and contributing to greater prosperity—for themselves, their families, and their communities. It expands the scope of its analysis, adding two indicators that can be critical in opening up or restricting women’s options: safety from violence and access to childcare services. When those measures are included, women on average enjoy just 64% of the legal protections that men do—far fewer than the previous estimate of 77%.
The gender gap is even wider in practice. For the first time, Women, Business and the Law assesses the gap between legal reforms and actual outcomes for women in 190 economies. The analysis reveals a shocking implementation gap. Although laws on the books imply that women enjoy roughly two-thirds the rights of men, countries on average have established less than 40% of the systems needed for full implementation. For example, 98 economies have enacted legislation mandating equal pay for women for work of equal value. Yet only 35 economies—fewer than one out of every five—have adopted pay-transparency measures or enforcement mechanisms to address the pay gap. Effective implementation of equal-opportunity laws depends on an adequate supporting framework, including strong enforcement mechanisms, a system for tracking gender-related pay disparities, and the availability of healthcare services for women who survive violence.
“Women have the power to turbocharge the sputtering global economy,” said Indermit Gill, Chief Economist of the World Bank Group and Senior Vice President for Development Economics. “Yet, all over the world, discriminatory laws and practices prevent women from working or starting businesses on an equal footing with men. Closing this gap could raise global gross domestic product by more than 20% – essentially doubling the global growth rate over the next decade—but reforms have slowed to a crawl. WBL 2024 identifies what governments can do to accelerate progress toward gender equality in business and the law.” The implementation gap highlights how much hard work lies ahead even for countries that have been instituting equal-opportunity laws. Togo, for example, has been a standout among Sub-Saharan economies, enacting laws that give women roughly 77% of the rights available to men—more than any other country in the continent. Yet Togo, so far, has established only 27% of systems necessary for full implementation. This rate is average for Sub-Saharan economies.
In 2023, governments were assertive in advancing three categories of legal equal-opportunity reforms—pay, parental rights, and workplace protections. Still, nearly all countries performed poorly in the two categories being tracked for the first time—access to childcare and women’s safety. The weakness is greatest in women’s safety—where the global average score is just 36, meaning women enjoy barely a third of the needed legal protections against domestic violence, sexual harassment, child marriage and femicide. Although 151 economies have laws in place prohibiting sexual harassment in the workplace, just 39 have laws prohibiting it in public spaces. This often prevents women from using public transportation to get to work. Most countries also score poorly for childcare laws. Women spend an average of 2.4 more hours a day on unpaid care work than men—much of it on the care of children. Expanding access to childcare tends to increase women’s participation in the labor force by about 1 percentage point initially—and the effect more than doubles within five years. Today, only 78 economies—fewer than half—provide some financial or tax support for parents with young children. Only 62 economies—fewer than a third—have quality standards governing childcare services, without which women might think twice about going to work while they have children in their care.
Women also face significant obstacles in other areas. In the area of entrepreneurship, for example, just one in every five economies mandates gender-sensitive criteria for public procurement processes, meaning women are largely cut out of a $10-trillion-a-year economic opportunity. In the area of pay, women earn just 77 cents for every $1 paid to men. The rights gap extends all the way to retirement. In 62 economies, the ages at which men and women can retire are not the same. Women tend to live longer than men, but because they receive lower pay while they work, take time off when they have children, and retire earlier, they end up with smaller pension benefits and greater financial insecurity in old age. “It is more urgent than ever to accelerate efforts to reform laws and enact public policies that empower women to work and start and grow businesses,” said Tea Trumbic, the report’s lead author. “Today, barely half of women participate in the global workforce, compared with nearly three out of every four men. This is not just unfair—it’s wasteful. Increasing women’s economic participation is the key to amplifying their voices and shaping decisions that affect them directly. Countries simply cannot afford to sideline half of their population.”
The Arab Africa Trade Bridges (AATB) Program and the Federal Republic of Nigeria formalized a partnership with the signing of the AATB Membership Agreement, officially welcoming Nigeria as the Program’s newest member country. The signing ceremony took place in Abuja on the sidelines of the 5th AATB Board of Governors Meeting, hosted by the Federal Government of Nigeria.
The Membership Agreement was signed by Eng. Adeeb Y. Al Aama, the CEO of the International Islamic Trade Finance Corporation (ITFC) and AATB Program Secretary General, and H.E. Mr. Wale Edun, Minister of Finance and Coordinating Minister of the Economy, Federal Republic of Nigeria. The Agreement will provide a strategic and operational framework to support Nigeria’s efforts in trade competitiveness, promote export diversification, strengthen priority value chains, and advance capacity-building efforts in line with national development priorities. Areas of collaboration will include trade promotion, agribusiness modernization, SME development, businessmen missions, trade facilitation, logistics efficiency, and digital trade readiness.
The Honourable Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, called for deeper trade collaboration between African and Arab nations, stressing the importance of value-added Agribusiness and industrial partnerships for regional growth. Speaking in Abuja at the Agribusiness Matchmaking Forum ahead of the AATB Board of Governors Meeting, the Minister said the shifting global economy makes it essential for African and Arab nations to rely more on regional cooperation, investment and shared markets.
He highlighted projections showing Arab-Africa trade could grow by more than US$37 billion in the next three years and urged partners to prioritize value addition rather than raw commodity exports. He noted that Nigeria’s growing industrial base and upcoming National Single Window reforms will support efficiency, investment and private-sector expansion.
“This is a moment to turn opportunity into action”, he said. “By working together, we can build stronger value chains, create jobs and support prosperity across our regions”, Edun emphasized. “As African and Arab nations embark on this journey of deeper trade collaboration, the potential for growth and development is vast. With a shared vision and commitment to value-added partnerships, we can unlock new opportunities, drive economic growth, and create a brighter future for our people.”
Speaking during the event, Eng. Adeeb Y. Al Aama, Chief Executive Officer of ITFC and Secretary General of the AATB Program, stated: “We are pleased to welcome Nigeria to be part of the AATB Program. Nigeria stands as one of Africa’s most dynamic and resilient economies in Africa, with a rapidly expanding private sector and strong potential across agribusiness, energy, manufacturing, and digital industries. Through this Membership Agreement, we look forward to collaborating closely with Nigerian institutions to strengthen value chains, expand regional market access, enhance trade finance and investment opportunities, and support the country’s development priorities.”
The signing of this Agreement underscores AATB’s continued engagement with African countries and its evolving portfolio of programs supporting trade and investment. In recent years, AATB has worked on initiatives across agribusiness, textiles, logistics, digital trade, export readiness under the AfCFTA framework, and other regional initiatives such as the Common African Agro-Parks (CAAPs) Programme.
With Nigeria’s accession, the AATB Program extends it’s presence in the region and adds a key partner working toward advancing trade-led development and fostering inclusive economic growth.
Federal Executive Council (FEC) has approved the 2026–2028 Medium-Term Expenditure Framework (MTEF), a key fiscal document that outlines Nigeria’s revenue expectations, macroeconomic assumptions, and spending priorities for the next three years. The approval followed Wednesday’s FEC meeting presided over by President Bola Tinubu at the State House, Abuja. The Minister of Budget and Economic Planning, Senator Atiku Bagudu made this known after the meeting.
The Minister said the Federal Government is projecting a total revenue inflow of N34.33 trillion in 2026, including N4.98 trillion expected from government-owned enterprises. Bagudu said that the projected revenue is N6.55 trillion lower than earlier estimates, adding that federal allocations are expected to drop by about N9.4 trillion, representing a 16% decline compared to the 2025 budget.
He said that statutory transfers are expected to amount to about N3 trillion within the same fiscal year. On macroeconomic assumptions, FEC adopted an oil production benchmark of 2.6 million barrels per day (mbpd) for 2026, although a more conservative 1.8 mbpd will be used for budgeting purposes. An oil price benchmark of $64 per barrel and an exchange rate of N1,512 per dollar were also approved.
Bagudu said the exchange rate assumption reflects projections tied to economic and political developments ahead of the 2027 general elections. He said the exchange rate assumption took into account the fiscal outlook ahead of the 2027 general elections.
The minister said that all the parameters were based on macroeconomic analysis by the Budget Office and other relevant agencies. Bagudu said FEC also reviewed comments from cabinet members before approving the Medium-Term Fiscal Expenditure Ceiling (MFTEC), which sets expenditure limits. Earlier, the Senate approved the external borrowing plan of $21.5 billion presented by President Tinubu for consideration The loans, according to the Senate, were part of the MTEF and Fiscal Strategy Paper (FSP) for the 2025 budget.
The spot rate on Nigerian Treasury bills has been increased by 146 basis points by the Central Bank of Nigeria (CBN) following tight subscription levels at the main auction on Wednesday. The spot rate on Treasury bills with one-year maturity has now surpassed Nigeria’s 16.05% inflation by 145 basis points following a recent decision to keep the policy rate at 27%.
The Apex Bank came to the primary market with N700 billion Treasury bills offer size across standard tenors, including 91-day, 182-day and 364 day maturities. Details from the auction results showed that demand settled slightly above the total offers as investors began to seek higher returns on naira assets despite disinflation.
Total subscription came in at about N775 billion versus N700 billion offers floated at the main auction. The results showed rising appetite for duration as investors parked about 90% of their bids on Nigerian Treasury bills with 364 days maturity. The CBN opened N100 billion worth of 91 days bills for subscription, but the offer received underwhelming bids totalling N44.17 billion.
The CBN allotted N42.80 billion for the short-term instrument at the spot rate of 15.30%, the same as the previous auction. Total demand for 182 days Nigerian Treasury bills settled at N33.38 billion as against N150 billion that the authority pushed out for subscription. The CBN raised N30.36 billion from 182 days bills allotted to investors at the spot rate of 15.50%, the same as the previous auction.
Investors staked N697.29 billion on N450 billion in 364-day Treasury bills that was offered for subscription. The CBN raised N636.46 billion from the longest tenor at the spot rate of 17.50%, up from 16.04% at the previous auction.
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