As a champion of leading an INFF process, Nigeria is implementing a financing strategy to support its medium-term development plan and financial reforms.

Nigeria’s financing strategy was launched in September 2022 by the President of Nigeria. It aims to support the financing of the 2021-2025 National Development Plan and the 8 SDG priorities, diversifying the economy away from oil revenues. The SDG financing gap is estimated to be US$10 billion annually and to fill this gap, Nigeria’s financing strategy is designed as an umbrella strategy for the medium-term revenue strategy, expenditure framework, fiscal federalism and private sector reforms. 

The specific reforms include broadening federal and state revenue base, tax administration reforms including digitalisation, the shift from one-year fiscal planning to multi-year perspective, alignment of expenditures with 8 SDG priorities, enhancing the contribution of institutional investors and pension funds in SDG financing and leveraging remittances and diaspora investment.  

The high-level INFF steering committee, led by the Minister of Finance, Budget and National Planning and supported by a multistakeholder Core Working Group, will be overseeing the INFF implementation in Nigeria.

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The INFF Knowledge Platform has a growing library of INFF reports, briefs, case studies, tools and guidelines. Explore resources from Nigeria to gain greater insight into the country’s INFF process.

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