FG, EU, UN advocate specialised fund for sustainable growth

0
259

By Mathew Dadiya

The Federal Government through the Ministry of Finance, Budget and National Planning, and the Office of the Senior Special Assistant to the President on Sustainable Development Goals (OSSAP-SDGs), is being joined by the European Union and the United Nations Office to advocate for a specialised fund to accelerate the Sustainable Development Goals (SDGs) implementation in the country.

According to UN Resident Coordinator in Nigeria, Matthias Schmale, Wednesday in Abuja, said the Fund would be operated as part of the Integrated National Financing Framework (INFF).

The Nigeria Integrated National Financing Framework was officially launched by the immediate past President, Muhammadu Buhari on the side-lines of the 77th Session of the UN General Assembly in New York, last September 2022.

The historic launch saw Nigeria becoming a pioneer country to launch an INFF, a planning and delivery tool for financing sustainable development.

The INFF Fund proposal, aimed at helping ensure sustainability, was presented to members for buy-in during the High-Level Steering Committee Meeting held on 5th May 2023 in Abuja. Speaking during the meeting, the INFF Chair, Minister of Finance, Budget and National Planning, Dr. Zainab Shamsuna Ahmed extended appreciation to partners for supporting the process.

“I am grateful to all our partners including the European Union, United Nations, and the Private Sector Advisory Group for being an integral part of the INFF and for partnering with us to have a process which is inclusive”, the Minister said.

“As a leader in the INFF process, Nigeria has been able to stand out and share valuable lessons with other countries.

“As we now look towards the development of an INFF Fund, we hope we can count on the support of all our partners as we work to ensure a more coherent structure for financing inclusive, gender-responsive, and climate-resilient development in Nigeria,” she said.

The INFF Fund is proposed as collaboration with key partners and stakeholders in the full implementation of the INFF to strengthen the development financing envelope of the government to help achieve the SDGs by 2030.

The multi-donor financial contribution will enable Nigeria to finance the implementation of the INFF action plan through public and private funded initiatives and reforms.

During her opening remarks, Princess Adejoke Orelope-Adefulire, Senior Special Assistant to the President on SDGs stated that, “as the largest economy in Africa and an important player in the global arena, Nigeria’s progress on the SDGs could go a long way in improving the wellbeing of the poor, and strengthening peace and security on the continent.”