The Federal Government of Nigeria, in collaboration with 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), has joined forces with the European Union and the United Nations Office in Nigeria to advocate the establishment of a specialized fund to expedite the implementation of the Sustainable Development Goals (SDGs) in the country.
This fund will operate as part of the Integrated National Financing Framework (INFF).
The Nigeria Integrated National Financing Framework was officially launched by President Muhammadu Buhari during the 77th Session of the UN General Assembly in New York in September 2022, making Nigeria a pioneer in launching an INFF—a planning and delivery tool for financing sustainable development.
During the High-Level Steering Committee Meeting held on May 5th, 2023, in Abuja, the INFF Fund proposal, aimed at ensuring sustainability, was presented to members for their support. Dr. Zainab Shamsuna Ahmed, the Honourable Minister of Finance, Budget, and National Planning and the Chair of the INFF, expressed her gratitude to all partners, including the European Union, the United Nations, and the Private Sector Advisory Group, for their integral involvement in the INFF process.
As a leader in the INFF process, Nigeria has emerged as a standout, sharing valuable lessons with other countries.
With the development of the INFF Fund on the horizon, Nigeria hopes to rely on the support of all partners to establish a more coherent structure for financing inclusive, gender-responsive, and climate-resilient development in the country.
The INFF Fund proposes collaboration with key partners and stakeholders to strengthen the government’s development financing envelope, facilitating the achievement of the SDGs by 2030.
This multi-donor financial contribution will enable Nigeria to finance the implementation of the INFF action plan through public and private initiatives and reforms.
Princess Adejoke Orelope-Adefulire, the Senior Special Assistant to the President on SDGs, highlighted Nigeria’s significance as the largest economy in Africa and a major global player, emphasizing that Nigeria’s progress on the SDGs can have a profound impact on poverty reduction, peace, and security in Africa.
She concluded by stating that the INFF Fund presents a more efficient strategy to address the challenges of financing sustainable development and called for full commitment and intensified efforts to effectively implement the Nigeria INFF in the years to come.
Mr. Mohamed Yahya, the UNDP Resident Representative to Nigeria, acknowledged the financing constraints and development challenges faced by Nigeria, emphasizing the need for a coordinated approach to financing the SDGs and national development priorities.
He also pointed out that Nigeria has a yearly funding gap of $10 billion to meet the SDGs, underscoring the necessity for integrated financing policy solutions and reforms to ensure resilient, inclusive, and sustainable growth in the country.
Ambassador Samuela Isopi, the Head of the EU Delegation to Nigeria and ECOWAS, represented by Inga Stefanowicz, affirmed the European Union’s strong support for INFFs worldwide as a key tool for countries to achieve the SDGs and the Paris Agreement.
The EU has been partnering with Nigeria as a front-runner in the INFF since 2020 and firmly believes in Nigeria’s capacity to transform its development landscape.
The European Union pledged unwavering support to Nigeria as they move forward with the INFF.
Matthias Schmale, the UN Resident Coordinator in Nigeria, also pledged continuous support and engagement from the UN to drive the INFF forward and realize the establishment of the INFF Fund in Nigeria.
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