Lagos State Governor, Babajide Sanwo-Olu, and former Minister of Works and Housing, Babatunde Fashola, have called for greater adoption of non-interest finance to mobilise long-term capital to support Nigeria’s productive economy.
They spoke on Thursday at the ‘Beyond Interest’ private intelligence forum organised by The Alternative Bank in Victoria Island, Lagos.
The forum brought together investors, entrepreneurs, wealth creators, institutional decision-makers and public-sector leaders to examine the role of patient capital in driving sustainable economic growth.
Opening the forum, Chairman of The Alternative Bank, Muhtar Bakare, said Nigeria’s challenge was not a lack of capital but the absence of trust required for long-term investment.
“What we lack is not effort. We lack capital that stays long enough to turn effort into capacity, capacity into durable jobs and durable jobs into stability. That is why the distinction between extractive and productive capital matters,” Mr Bakare said.
