Nigeria: Federal Government to Collaborate on Economic Development

Nigeria: Federal Government to Collaborate on Economic Development

Minister of Finance, Mrs. Zainab Ahmed stated that the Federal Government has assured of its readiness to partner with any group or stakeholders towards the transformation and economic development of the country. This was made known at the closing session of the UK-Nigeria Climate Finance Accelerator workshop (CFA) held at the Zonal office of the Securities and Exchange Commission, SEC, in Lagos, weekend.

Ahmed, represented by Director, Economic Research and Policy, Ministry of Finance, Mr. Israel Igwe said there was a need for a coordinated green climate finance platform like the CFA in the economy. According to her, the CFA program is an innovative concept that would aid the government’s developing approach of the “Ease of Doing Business”.

In his presentation, Director, Climate Change and Clean Growth Ricardo Energy, Mr. Chris Dodwell called on stakeholders in the financial sector to collaborate towards financing developmental projects. Dodwell said that CFA was an innovative international initiative supported by the UK Government and other international donors including Nigeria, Colombia and Mexico. According to him, its aim is to accelerate the transformation of countries’ Nationally Determined Contributions (NDCs) into bankable projects to attract investment from the private sector. He added that CFA was a powerful example of creating a productive dialogue between financiers and policymakers, focused on scalable opportunities.

Contributing, Mr. Kyari Bukar, former Chairman, Nigeria Economy Summit Group (NESG), said the CFA program was the kind of investment initiative the country currently needed to boost its investment portfolios for enhanced economic growth. 

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