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<p>By Yusuf Danjuma Yunusa</p><div class="EFxXBrC6" style="clear:both;float:left;width:100%;margin:0 0 20px 0;"><script async src="https://pagead2.googlesyndication.com/pagead/js/adsbygoogle.js"></script>

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<p>In a significant policy shift, the Federal Ministry of Finance will now assume responsibility for national development finance activities, a role previously managed by the Central Bank of Nigeria (CBN). This move aims to establish a clearer, more sustainable framework for mobilizing long-term investment into the country&#8217;s priority sectors.</p>
<p>The transition fills a strategic gap left nearly two years ago when the CBN halted its direct funding of development programs, which had constrained financing for critical areas like infrastructure, energy, and agriculture.</p>
<p>Unveiling the new strategy, the Minister of State for Finance, Doris Uzoka-Anite, announced that the ministry will issue comprehensive guidelines for a forward-looking development finance model. She positioned Domestic Development Finance Institutions (DFIs)—such as the Bank of Industry and the Nigerian Export-Import Bank—as central pillars in achieving Nigeria’s growth and investment ambitions.</p>
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<p>“Given the scale of Nigeria’s growth targets and the need to mobilize an estimated N246 trillion in patient capital by 2036, the government recognizes DFIs as essential partners,” Uzoka-Anite stated. “They will de-risk priority sectors, bolster investor confidence, and catalyze large-scale private capital.”</p>
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<p>DFIs will provide long-term financing, concessional instruments, technical expertise, and risk-sharing to sectors where private investment has lagged despite strong potential. Key focus areas include infrastructure, energy transition, agribusiness, healthcare, climate-resilient industries, and digital public infrastructure.</p>
<p>The minister outlined a dedicated strategy to enhance the capacity and impact of domestic DFIs, among which are: enhanced capitalization, governance reforms, risk-sharing mechanisms, and treasury &; policy alignment.</p>
<p>The ministry plans to leverage both domestic and international partnerships to accelerate capital mobilization and project delivery. Uzoka-Anite emphasized aligning all financing with climate resilience, financial inclusion, and sustainability goals in line with global standards.</p>
<p>“Nigeria’s reform momentum, policy clarity, and execution discipline create a credible platform for DFIs to deploy capital at scale with measurable impact,” she added.</p>
<p>This reassignment of responsibility follows the CBN’s strategic withdrawal from direct intervention financing. Shortly after his appointment, Governor Olayemi Cardoso announced the bank would cease funding development programs, refocusing on its core monetary mandates. In December 2023, the CBN formally suspended new loans under all existing intervention schemes while continuing to recover previously disbursed funds.</p>
<p>The Federal Government has affirmed its commitment to maintaining policy consistency and institutional coordination to ensure the success of this new DFI-led approach.</p>
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