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Mobilise Capital To Accelerate Nigeria's Devt, Osidi Tells Financiers

BY CHIKA OKEKE, Abuja


Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, 3rd L; Group Head, Strategy and Performance Management at Federal Mortgage Bank of Nigeria, FMBN, Mr. Oladapo Fakeye, 5th R; flanked by others at the 6th Annual General Assembly of the Association of Nigerian Development Finance Institutions, ANDFI, held in Abuja over the weekend.

The Managing Director/Chief Executive of the Federal Mortgage Bank of Nigeria, FMBN, Shehu Usman Osidi has encouraged development finance institutions to mobilise domestic capital and strengthen partnerships to accelerate Nigeria's development.

He stated this at the 6th Annual General Assembly of the Association of Nigerian Development Finance Institutions, ANDFI, over the weekend in Abuja.

Represented by the Group Head, Strategy and Performance Management, Mr. Oladapo Fakeye, he disclosed that sustainable housing finance is a critical catalyst for economic growth, job creation and national development.

He reaffirmed FMBN's commitment to providing affordable housing through its National Housing Fund, NHF, Scheme, as well as the provision of accessible mortgage financing, stressing that housing finance remains central to Nigeria's socio-economic development.

‎"We recognise that sustainable housing finance is not only necessary for improving the quality of life of our citizens, but also serves as a catalyst for economic growth, job creation and national development," Osidi said.

The MD sought stronger collaboration, innovation and knowledge sharing among development finance institutions to address emerging economic challenges and deepen development impact.

‎"As members of the development finance ecosystem, we must continue to strengthen cooperation, leverage innovation and share knowledge to address economic challenges and create new opportunities that will enhance our development impact," he added.

‎The Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele noted that Nigeria's long-term prosperity depends on unlocking domestic capital.

‎He identified five strategic priorities for unlocking domestic capital as deepening institutional capital, expanding credit enhancement mechanisms, strengthening the capital market, strengthening development finance institutions and unlocking household wealth.

Oyedele said: “The future belongs to countries that successfully integrate public finance, private finance, institutional finance, development finance and capital markets into one coherent ecosystem.”

He noted that the Federal Government is committed to working with development finance institutions and other stakeholders to drive enterprise development, industrialisation and inclusive economic growth.



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