By Etop Ekanem
The Bank of Industry (BOI) has reaffirmed that mobilising domestic capital has become imperative to financing Nigeria’s development priorities, as policymakers, development finance institutions (DFIs), and multilateral partners converged to chart a path towards sustainable economic growth.
Speaking at the 6th Annual Conference and General Assembly of the Association of Nigerian Development Finance Institutions (ANDFI), themed “Unlocking Domestic Capital for Development Financing,” Managing Director and Chief Executive Officer of the Bank of Industry and Chairman of ANDFI, Dr. OlasupoOlusi, said Nigeria must increasingly rely on domestic resources to fund critical sectors as access to long-term global development finance becomes more constrained.
According to Olusi, the conference theme reflects one of the country’s most pressing economic priorities, adding: “As access to long-term global development capital becomes increasingly constrained, mobilising domestic resources is no longer simply desirable. It is essential.”
He explained that domestic capital must play a greater role in financing infrastructure, industrialisation, agriculture, housing, MSME development and other strategic sectors identified in Nigeria’s long-term development agenda.
