As preparations intensify for Nigeria’s participation in the Fourth International Conference on Financing for Development (FfD4), scheduled for June 30, 2025 in Seville, Spain, stakeholders and Nigerian civil society are have called stronger global actions to combat illicit financial flows, recover stolen assets, as well as ensure fairer, more transparent international tax and debt systems.
This call was made at a one-day consultation meeting in Abuja, where stakeholders maintained that corruption and weak public financial management systems undermine Nigeria’s ability to mobilise and deploy resources efficiently.
This call is contained in a newly released report titled “Financing for Development in Nigeria: Sectoral Context and Insights for the Fourth International Conference,” an advocacy position paper developed by the Civil Society Legislative Advocacy Centre (CISLAC), in partnership with Oxfam Nigeria and other organisations.
The Executive Director of CISLAC, Auwal Rafsanjani, who read the report, outlined a range of policy proposals to enhance Nigeria’s financial capacity, including adopting digital tax systems for fair taxation, simplifying trade processes to drive industrialisation, launching anti-corruption and asset recovery campaigns, and establishing development finance facilities to de-risk private investment in infrastructure and social services.
“Nigeria is also using the platform of the upcoming FfD4 to call for major reforms in the international financial architecture. The country advocates for changes to global tax rules, easier access to climate finance, and new concessional financing frameworks that reflect the needs of countries with large populations living in poverty. We urge the international community to prioritise loss and damage financing, equitable access to green investments, and reform of Special Drawing Rights (SDRs) to better support middle-income countries carrying high poverty burdens,” the report adds.
Rafsanjani also noted that critical sectors such as education, health, agriculture, and climate resilience remained underfunded while the country loses over $18 billion annually to illicit financial flows.
“As the global community gathers to renew its financing commitments, Nigeria stands ready to champion equity, accountability, and inclusion in the international financial system. The upcoming FfD4 conference presents a critical opportunity to reshape global financing and unlock the investments required for a just and resilient future.”
He further expressed concern that most states in the country do not have measurable development blueprints, making it difficult to track progress or attract meaningful investments, and stressed the need for deliberate efforts to bridge the gaps at both national and sub-national levels to lead in the global financing map.
