Nigeria’s efforts to strengthen the foundations of sustainable development financing have received a significant boost as government leaders, development partners, private sector institutions, and civil society organisations came together for a three-day retreat focused on advancing the implementation of the Integrated National Financing Framework (INFF).
The retreat focused on translating the INFF from a policy outline into a practical, results-driven instrument capable of mobilising resources for national priorities and accelerating progress on the SDGs.
Described as one of the most significant meetings on Nigeria’s financing future in recent years, the event—held under the theme “Deepening the Implementation of Nigeria’s Integrated National Financing Framework (INFF): Lessons, Opportunities and Next Steps” sought to chart a bold path for financing the SDGs and the National Development Plan.
It aimed to confront Nigeria’s persistent financing gaps and propose actionable solutions to strengthen domestic revenue, attract private investment, and improve coordination across federal and state institutions.
Participants agreed that Nigeria’s financing challenges cannot be solved through public resources alone and that the INFF must serve as a unifying structure for aligning public, private, domestic, and external financing. This vision shaped all deliberations and produced a set of clear, practical outcomes.
According to a statement by Desmond Utomwen, Special Assistant on Media, Publicity and Strategic Communications in OSSAP-SDGs, “a key highlight of the retreat was the strong call for sub-national integration. Participants observed that most development challenges and opportunities exist at the state level, yet financing strategies remain heavily federal-centric.”
The retreat therefore resolved that the INFF must embed tailored state-level approaches, improve FAAC utilisation, and support states with capacity building, investment readiness, and project preparation.
Among the outcomes was a unanimous recommendation for establishing a National Project Preparation Facility to help states and MDAs convert ideas into bankable projects capable of attracting investors ensuring that viable concepts do not fail due to lack of structuring.
Participants also stressed that political commitment at the highest level is essential to restore investor confidence, noting that the National Steering Committee of the INFF must take a more visible and active role in driving reforms, particularly around tax policy, investment alignment, and public finance restructuring.
Development partners, including the European Union, noted that investors continue to question the tangible impact of the INFF and urged stronger government co-financing to demonstrate ownership.
The meeting co-chaired by OSSAP-SDGs, UNDP, and the Ministry of Budget and Economic Planning, reaffirmed the need to scale up innovative financing models such as blended finance, green bonds, impact investment, and PPPs. It also underscored that improved transparency, efficient procurement systems, digitalised tax administration, and strengthened monitoring and evaluation are essential for expanding fiscal space and ensuring accountability.
The EU delegation, represented by Mr. Reuben Alba-Aguilera, warned that Nigeria cannot rely solely on public revenue to meet its development needs.
“While public finance remains fundamental, it cannot on its own bridge Nigeria’s widening financing gaps,” Alba-Aguilera said.
He noted that innovative partnerships, blended finance tools, and private sector mobilisation are now indispensable. He reaffirmed the EU’s commitment to governance, climate action, and public finance reforms, describing the INFF as ‘a vital platform for aligning finance with national priorities.’
The Senior Special Assistant to the President on SDGs, Princess Adejoke Orelope-Adefulire, highlighted Nigeria’s progress in institutionalising the INFF, noting that Development Finance Assessments and national coordination structures are already in place.
She described the framework as a roadmap for “mobilising resources more prudently, effectively and inclusively,” while acknowledging persistent challenges in domestic resource mobilisation and aligning external finance with national needs.
Experts from UNDP, the Bank of Industry, CSEA, FIRS, and several private sector institutions delivered technical presentations highlighting Nigeria’s financing gaps while illuminating new opportunities.
UNDP’s Tony Muhumuza emphasised the need for coherence across financing systems, while BOI Chairman, Dr. Mansur Mukhtar, stressed that public finance reforms are essential for building trust and catalysing investment.
Co-Chair of the INFF Core Working Group, Mr. Felix Okonkwo, described the INFF as the nation’s “strategic vehicle for orchestrating and mobilising resources across public and private quadrants.”
The retreat offered a rare opportunity for stakeholders to shift from theoretical discussions to practical problem-solving, with participants resolving to confront implementation bottlenecks head-on and move decisively from planning to execution.