The Federal Government has called for stronger global cooperation and the adoption of innovative financing tools to address the widening development funding gaps facing Nigeria and other emerging economies.
The Minister of Solid Minerals Development, Dele Alake, made the call in Abuja while speaking virtually at the Green Guarantee Group (GGG) high-level stakeholders’ roundtable on mainstreaming financial guarantees in Nigeria.
Alake said that strategic partnerships between governments, development finance institutions, and private investors are essential to mobilising the large-scale funding required for green industrialisation, small business growth, and sustainable economic development.
He noted that many viable projects across key sectors continue to struggle with access to capital due to perceived market risks and uncertainty, stressing that guarantee instruments and innovative risk-sharing mechanisms are critical to unlocking investment flows.
The minister explained that Nigeria is actively positioning itself in the global financial system by promoting policies that support climate action, renewable energy, agriculture, and mining, all aimed at driving inclusive economic growth.
He added that Micro, Small and Medium Enterprises (MSMEs) in particular stand to benefit from guarantee-backed financing structures that can help them expand operations, innovate, and create employment opportunities.
Stakeholders at the roundtable, including international partners and development institutions, also agreed that financial guarantees play a key role in boosting investor confidence, reducing risk perception, and mobilising significantly more private capital for development projects across Africa.
