The federal government of Nigeria, through the Ministry of Finance, Budget and National Planning, and the Office of the Senior Special Assistant to the President on Sustainable Development Goals (OSSAP-SDGs), is being joined by the European Union and the United Nations Office in Nigeria to advocate for a specialised fund to accelerate the Sustainable Development Goals (SDGs) implementation in the country.
This Fund would be operated as part of the Integrated National Financing Framework (INFF).
The Nigeria Integrated National Financing Framework was officially launched by former President Muhammadu Buhari on the side-lines of the 77th Session of the UN General Assembly in New York, last September 2022.
The historic launch saw Nigeria becoming a pioneer country to launch an INFF, a planning and delivery tool for financing sustainable development.
The INFF Fund proposal, aimed at helping ensure sustainability, was presented to members for buy-in during the High-Level Steering Committee Meeting held on 5th May 2023 in Abuja. Speaking during the meeting, the INFF Chair, Honourable Minister of Finance, Budget and National Planning, Dr. Zainab Shamsuna Ahmed extended appreciation to partners for supporting the process.
"I am grateful to all our partners including the European Union, United Nations, and the Private Sector Advisory Group for being an integral part of the INFF and for partnering with us to have a process which is inclusive. She further added.
"As a leader in the INFF process, Nigeria has been able to stand out and share valuable lessons with other countries.
As we now look towards the development of an INFF Fund, we hope we can count on the support of all our partners as we work to ensure a more coherent structure for financing inclusive, gender-responsive, and climate-resilient development in Nigeria."
The INFF Fund is proposed as a collaboration with key partners and stakeholders in the full implementation of the INFF to strengthen the development financing envelope of the government to help achieve the SDGs by 2030.
The multi-donor financial contribution will enable Nigeria to finance the implementation of the INFF action plan through public and private funded initiatives and reforms.
During her opening remarks, Princess Adejoke Orelope-Adefulire, Senior Special Assistant to the President on SDGs stated that, "as the largest economy in Africa and an important player in the global arena, Nigeria's progress on the SDGs could go a long way in improving the wellbeing of the poor, and strengthening peace and security on the continent."
Princess Adejoke Orelope- Adefulira concluded by stating that the INFF Fund presents a more efficient strategy to addressing the challenges of financing
sustainable development.
She emphasised that everyone should be fully committed and should redouble their efforts to effectively implement the Nigeria INFF in the coming years.
Mr. Mohamed Yahya, UNDP Resident Representative to Nigeria added that "the financing constraint amid development challenges call for a coordinated approach to financing for SDGs and national development priorities. He further added that, "Nigeria has a funding gap of $10 billion per year to meet the SDGs. Hence, more integrated financing policy solutions and reforms are thus needed to ensure resilient, inclusive, and sustainable growth in Nigeria."
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Ambassador Samuela Isopi, Head of the EU Delegation to Nigeria and ECOWAS represented by Inga Stefanowicz stated: "The European Union is a strong supporter of INFFs globally - a key tool for countries to achieve the SDGs and Paris Agreement.
This is why the EU has partnered with Nigeria as a front runner of the INFF since 2020. We believe strongly in Nigeria's capacity to transform her development landscape. I thus would like to pledge the European Union's unwavering support to Nigeria as we move forward with the INFF."
UN Resident Coordinator in Nigeria, Matthias Schmale likewise pledged the UN's continuous support and engagement to drive the INFF forward and to see the actualisation of the INFF Fund in Nigeria.
