By Jennete Ugo Anya
Mobilising domestic capital has become increasingly important as Nigeria seeks to finance infrastructure, support businesses and reduce dependence on external funding. While international investments remain valuable, development finance institutions are under growing pressure to unlock local resources that can accelerate industrialisation, strengthen small businesses and promote inclusive economic growth. NEXIM Bank’s participation in the 6th Annual General Assembly of the Association of Nigerian Development Finance Institutions (ANDFI) reflects this national effort to build a more resilient development finance ecosystem.
Held in Abuja under the theme, ‘Unlocking Domestic Capital for Development Financing,’ the assembly brought together federal and state development finance institutions, policymakers and industry leaders to explore practical strategies for expanding access to long-term finance and supporting private sector growth.
Leading NEXIM Bank’s delegation was the Executive Director, Business Development, Hon. Stella Okotete, accompanied by members of the bank’s senior management team.
In her goodwill message, Hon. Okotete reaffirmed the bank’s commitment to supporting Nigeria’s economic transformation through expanded access to finance and strategic investment in productive sectors.
She stated that NEXIM Bank remains focused on advancing sustainable economic growth, increasing financing opportunities for Nigerian businesses and supporting initiatives that unlock domestic capital for national development.
Her remarks align with the bank’s broader mandate of promoting export development, facilitating non-oil trade and strengthening Nigeria’s productive capacity through development finance.
The annual assembly provided a platform for stakeholders to examine how domestic financial resources can be better mobilised to address investment gaps, improve business competitiveness and support long-term economic development.
The event attracted key leaders across Nigeria’s development finance landscape, including the Minister of Finance and Coordinating Minister of the Economy, Taiwo Oyedele, the Managing Director of the Bank of Industry (BoI), Dr. Olasupo Olusi, the Director-General of Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), Dr. Charles Odii, alongside other senior officials from development finance institutions.
Discussions focused on strengthening Nigeria’s capital markets, improving access to finance for micro, small and medium-sized enterprises (MSMEs) and addressing systemic barriers that continue to limit private sector expansion.
Participants also examined financing gaps affecting businesses and explored reforms capable of creating a more efficient and inclusive development finance system.
The conversations reinforced a growing policy consensus that achieving sustainable economic growth requires stronger collaboration among government institutions, development finance organisations and the private sector.
For NEXIM Bank, participation in the assembly underscores its continued role in supporting initiatives that expand financing for businesses, promote exports and contribute to Nigeria’s broader economic diversification agenda.
As Nigeria pursues reforms aimed at accelerating industrialisation and private sector-led growth, mobilising domestic capital will remain central to financing investment, creating jobs and strengthening economic resilience. Greater collaboration among development finance institutions, as demonstrated at the ANDFI Assembly, has the potential to deepen access to long-term finance and support more inclusive and sustainable national development.
