Finance and sustainability leaders have called for deeper collaboration among regulators, investors, and private sector stakeholders to accelerate sustainable financing and support Nigeria’s long-term economic growth.
The call was made during a special session hosted by RMB Nigeria at the 31st Nigerian Economic Summit (NES#31), themed ‘Funding the Future: Sustainable Financing as a Growth Engine.’ The session convened policymakers and financial experts to discuss innovative instruments and partnerships needed to close Nigeria’s infrastructure and climate finance gaps.
RMB Nigeria CEO Bayo Ajayi said finance must evolve from simply providing liquidity to actively driving transformation, noting that every investment should contribute to building industries, empowering communities, and protecting the environment.
In her keynote, Director-General of the Debt Management Office (DMO) Patience Oniha highlighted Nigeria’s pioneering role in Africa’s green finance market. She recalled that Nigeria was the first African nation to issue a sovereign green bond in 2017, raising ₦75.69 billion across three issuances to support renewable energy, clean transport, and afforestation projects. She acknowledged challenges such as low investor participation and complex processes and disclosed ongoing work with the World Bank to develop a revised ESG framework to attract more capital.
A panel moderated by Adaobi Onanuga of RMB Nigeria featured industry leaders from North South Power, Bank of Industry, Alitheia Capital, RMB Nigeria, and the Nigeria Sovereign Investment Authority (NSIA). They emphasised the need for blended finance, project de-risking, and stronger governance to mobilise large-scale investments. The panellists noted that Africa receives only about three percent of global sustainable finance flows despite its potential for climate-aligned development.
Ajayi concluded that collaboration and commitment are essential, stating that sustainable financing is the bridge between ambition and execution and key to ensuring Nigeria’s growth is both fast and inclusive.
