President Muhammadu Buhari has restated the commitment of his administration to the achievement of inclusive, broad-based and sustainable development.
The President spoke while delivering his keynote address at strategic High Level Event held on the sidelines of the 77th session of United Nations General Assembly in New York to launch Nigeria’s Integrated National Financing Framework (INFF) for Sustainable Development.
The President noted that Nigeria adopted the INFF as a tool to improve the financing of SDGs without increasing public debt and contingent liabilities to levels that will be detrimental to economic sustainability.
He commended the Federal Ministry of Finance, Budget and National Planning; the Office of the Senior Special Assistant to the President on Sustainable Development Goals; and the United Nation Development Programme for working together to develop Nigeria’s INFF in a process which started in 2020.
“Today’s event marks the end of a long process which began in 2020, when the Steering Committee and the Core Working Group on Nigeria’s Integrated National Financing Framework were inaugurated.
“The Integrated National Financing Framework (INFF) has been developed to map out a much-needed sustainable financing plan for Nigeria to deliver on our commitment to the SDGs and our National Development aspirations,” the President said.
He further noted that as part of its commitment to sustainable and inclusive development, his administration aligned its 2017-2020 Economic Recovery and Growth Plan (ERGP); the 2020 Economic Sustainability Plan (ESP); the 2021 National Poverty Reduction with Growth Strategy (NPRGS); and the 2021-2025 National Development Plan (NDP) with the SDGs.
“It is in line with this commitment and with a focus on the National Development Plan (2021-2025) that, the Federal Government of Nigeria, with the support of the United Nations Development Programme (UNDP), has adopted the INFF as a tool to improve SDGs financing without increasing public debt and contingent liabilities to levels that will be detrimental to economic sustainability.
“The INFF is backed by Nigeria’s Medium-Term Revenue Strategy and the Medium-Term Expenditure Framework. As Nigeria champions the INFF process, we hope to promote the strategic alignment of financial policies with sustainable development and provide the enabling conditions for domestic and international, public, and private financial actors to best respond to our national needs.
“I urge all Nigerians, the international community, and our development partners to recognize the importance of this integrated approach to financing development, as you continue to count on my leadership in its immediate implementation,” the President said.
Speaking earlier, the Senior Special Assistant to the President on SDGs,Princess AdejokeOrelope-Adefulire, described the launch of the INFF report as a significant milestone in the commitment and efforts to achieve the SDGs in Nigeria.
She noted that the INFF is in line with Nigeria’s strategic approach to the implementation of the SDGs working at the National and Sub-national levels.
“At the National level, we work closely with the Federal Ministries, Departments, and Agencies (MDAs) to integrate the SDGs into their sectorial policies and plans. At the Sub-national level, we are working closely with the 36 states and the Federal Capital Territory (FCT) to mainstream the SDGs into their medium and long-term development policies and plans”.
She noted that her office, with the support of UNDP, has supported 16 states to develop SDG-Based Development Plans as part of Nigeria’s Mainstreaming, Acceleration and Policy Support (MAPS) for the agenda.
The INFF report, she added, was also another feat recorded by the country in the bid to institutionalize the SDGs, noting Nigeria was the first country in the Global South to have successfully completed a country-led Independent Evaluation of SDG-3 on ‘quality health and well-being for all’ and SDG-4 on ‘qualitative and inclusive education and lifelong learning for all’.
The two reports, she said, were officially launched on the 25th of August, 2022.
The presidential adviser noted that on the 21st of December, 2021, Nigeria became the first African country to successfully realigned its National Statistical System with the requirements and indicators of the SDGs, hence the country will be now be able to track progress on the 230 Key Performance Indicators of the agenda on annual basis through the National Bureau of Statistics.
Orelope-Adefulire further noted that in 2019, Nigeria successfully domesticated the Integrated Sustainable Development Goals Simulation Model (iSDG Model) as a home-grown analytical tool for evidence-based SDGs policymaking and planning with the report launched on the margins of the 74th Session of the United Nations General Assembly by the President.
“The Integrated National Financing Framework (INFF) Report we are about to launch today is a product of series of efforts led by the Federal Ministry of Finance, Budget and National Planning; Office of the Senior Special Assistant to the President on SDGs; and the United Nations Development Programme (UNDP).
“Nigeria is now among the INFF Pilot Countries that have made significant progress by completing the design process. Indeed, this is an expression of Nigeria’s commitment to the 2030 Agenda for sustainable development.
She expressed appreciation and profound gratitude to the President for accepting to launch the report as well as all the Institutional Members of the National Steering Committee and the Core Working Group on Nigeria’s INFF for the commitment demonstrated during the design phase.
“We look forward to similar commitment during the implementation phase,” Orelope –Adefulire said while affirming the commitment of her office to continue to drive the process of achieving the SDGs in Nigeria.
“I would like to conclude by re-affirming Nigeria’s commitment to the successful implementation of the SDGs. We look forward to working more closely with you all in this ‘Decade of Action’ for the Global Goals, so that no ‘One is left behind’.”
In his remark, Head/Sustainable Development, Minister Counsellor, Delegation of the European Union (EU) to the UN, Axel Maisonneuve, said EU had also support the mobilisation of capital for an inclusive and sustainable transition, which is at the heart of an INFF, in several ways.
“For instance, we know that whilst public finance of course has a key role to play, it will not be sufficient to bridge the SDG financing gap, and private finance needs to be mobilised as well.
“In the EU, we believe in fact that sustainable finance is critical to enable private financial flows being channelled towards sustainable investments.
“The EU’s Green Deal and the Global Gateway strategies are some of the key examples of the EU efforts in this direction. Indeed, sustainable finance is part and parcel of an INFF,’’ he said.
According to him, private finance is very much part of Nigeria’s Integrated National Financing Framework.
Maisonneuve said the INFF was designed to help the Nigerian government explore innovative financing options linking government with private sector and development partners to increase public revenue and private investments.
“Let me take this opportunity to praise Nigeria for the efforts undertaken toward the achievement of the 2030 agenda and the SDGs and for the key milestone that you have achieved.
“In September 2019, 16 countries committed to pioneer the development and implementation of INFFs, and Nigeria was among them.
“Now, Nigeria has successfully designed its INFF Strategy, and is offering a leading example for INFF progress toward a more systematic, holistic approach to achieve sustainable development objectives,’’ he said.
Goodwill messages were delivered by the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed, Deputy Secretary General of the United Nations, Amina J. Mohammed, and development partners.