Nigeria’s efforts to strengthen financing for sustainable development gained renewed momentum in Lagos as senior government officials, development partners, private sector leaders, and civil society groups concluded a three-day retreat aimed at accelerating the implementation of the Integrated National Financing Framework (INFF).
Held from November 24 to 26, 2025, the meeting was widely described as one of the most consequential engagements on Nigeria’s development financing in recent years, with stakeholders resolving to convert the INFF from a policy blueprint into a results-oriented instrument capable of driving investments for national priorities and the Sustainable Development Goals (SDGs).
The retreat, themed “Deepening the Implementation of Nigeria’s Integrated National Financing Framework (INFF): Lessons, Opportunities and Next Steps,” focused on addressing Nigeria’s persistent development financing gaps and recommending practical solutions to strengthen domestic revenues, attract private capital, and improve coordination across all tiers of government.
Participants agreed that Nigeria cannot rely solely on public resources to meet its rapidly expanding development needs, stressing that the INFF must serve as the unifying vehicle for aligning public, private, domestic, and external financing into a coherent national strategy.
According to a statement by Desmond Utomwen, Special Assistant on Media, Publicity and Strategic Communications in OSSAP-SDGs, one of the strongest outcomes of the meeting was the call for deeper sub-national integration.
While most development challenges lie at the state level, financing strategies remain largely federal-driven. Stakeholders therefore resolved that the INFF must adopt tailored, state-specific approaches, support investment readiness, enhance project preparation, and improve the strategic use of FAAC allocations.
To this end, participants unanimously recommended the establishment of a National Project Preparation Facility to help states and Ministries, Departments, and Agencies (MDAs) convert ideas into bankable projects capable of attracting investors—ensuring that viable initiatives do not collapse due to structural weaknesses.
The retreat also highlighted the need for stronger political commitment. Stakeholders said the National Steering Committee of the INFF must assume a more visible role in driving reforms in tax policy, investment alignment, and public finance restructuring.
Development partners, including the European Union, observed that investor concerns persist regarding the tangible impact of the INFF and urged the government to demonstrate stronger ownership through co-financing arrangements.
The meeting, co-chaired by OSSAP-SDGs, the UNDP, and the Ministry of Budget and Economic Planning, reaffirmed the urgency of scaling up innovative financing instruments such as blended finance, green bonds, impact investment, and Public–Private Partnerships (PPPs).
Delegates also underscored the importance of transparency, improved procurement systems, digital tax administration, and strengthened monitoring and evaluation as essential steps to expanding fiscal space.
Representing the European Union, Mr. Reuben Alba-Aguilera stressed that Nigeria cannot depend solely on public revenues to close its widening development gaps.
“While public finance remains fundamental, it cannot on its own bridge Nigeria’s widening financing gaps,” he said, noting that blended finance tools and private sector mobilisation were now indispensable.
He reaffirmed the EU’s support for governance reforms, climate action, and public finance restructuring, describing the INFF as a critical platform for aligning finance with national priorities.
