From Juliana Taiwo-Obalonye, Abuja
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), joined by the European Union and the United Nations Office in Nigeria are advocating for
a specialised fund to accelerate the Sustainable Development Goals (SDGs)
implementation in the country.
This Fund would be operated as part of the Integrated
National Financing Framework (INFF).
Recall the INFF was officially launched by former President Muhammadu Buhari, on the side-lines of the 77th Session of the UN General Assembly in New York, last September 2022.
According to a statement from the SDGs office, 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, former Minister
of Finance, Budget and National Planning, Zainab 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. She further added.
“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.”
The INFF Fund is proposed as a 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, Senior Special
Assistant to the President on SDGs Adejoke Orelope-Adefulire, 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.”
She concluded by stating that the INFF Fund presents a more efficient strategy to addressing the challenges of financing
sustainable development.
She emphasised that everyone should be fully committed
and should re-double their efforts to effectively implement the Nigeria INFF in the coming years.
UNDP Resident Representative to Nigeria, Mr. Mohamed Yahya, added that “the
financing constraint amid development challenges call for a coordinated approach to
financing for SDGs and national development priorities. He further added that, “Nigeria
has a funding gap of $10 billion per year to meet the SDGs. Hence, more integrated
financing policy solutions and reforms are thus needed to ensure resilient, inclusive,
and sustainable growth in Nigeria.”
Head of the EU Delegation to Nigeria and ECOWAS, Ambassador Samuela Isopi, represented by Inga Stefanowicz stated: “The European Union is a strong supporter of INFFs globally – a key tool for countries to achieve the SDGs and Paris Agreement.
“This is why the EU has partnered with Nigeria as a front runner of the INFF since
2020. We believe strongly in Nigeria’s capacity to transform her development
landscape. I thus would like to pledge the European Union’s unwavering support to
Nigeria as we move forward with the INFF.”
UN Resident Coordinator in Nigeria, Matthias Schmale likewise pledged the UN’s
continuous support and engagement to drive the INFF forward and to see the
actualisation of the INFF Fund in Nigeria.
Credit:Source link
