Public-Private Partnerships Vital to Expanding Nigeria’s Non-Interest Finance Sector — Wale Edun

The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has stressed that stronger public-private partnerships (PPPs) are essential to unlocking the vast opportunities in Nigeria’s non-interest finance sector. Speaking during a meeting with a delegation from Lotus Capital Limited, led by its Managing Director Hajara Adeola, Edun praised the firm’s pioneering work in promoting ethical and Sharia-compliant financing solutions across the country.

According to the ministry’s Director of Information, Mohammed Manga, discussions focused on strategies to expand and deepen the non-interest finance market as a catalyst for inclusive economic growth. Edun noted that such financial instruments can play a critical role in bridging Nigeria’s infrastructure gap while providing funding channels that align with ethical investment principles.

Among the key initiatives highlighted were the creation of a Non-interest Real Estate Investment Fund and the continuation of regular sovereign sukuk issuance programs. These measures are designed to attract domestic and foreign ethical investors, boost market liquidity, and increase access to financing for underserved communities. By integrating these tools into the national development framework, the government aims to diversify funding sources beyond conventional borrowing.

Edun reaffirmed the Finance Ministry’s commitment to innovative and inclusive financing models, emphasising that private sector collaboration is central to driving progress. “Collaboration between the public and private sectors is essential for unlocking the potential of non-interest finance to support Nigeria’s economic growth and development,” he stated, underscoring the government’s resolve to leverage alternative funding mechanisms for national development.

Manga added that the meeting reflected the federal government’s broader strategy to harness non-interest finance for sustainable infrastructure and economic inclusion. He noted that Lotus Capital’s expertise positions it as a key partner in Nigeria’s quest for sustainable development, highlighting the growing role of ethical finance in shaping the country’s economic future.

Source: Leadership