Agency Report
The Nigeria Integrated National Financing Framework (INFF), aligned with the Addis Ababa Action Agenda, supports Government of Nigeria in mobilizing private and public resources to finance its development agenda. Through the INFF, Nigeria is strengthening both conventional and innovative financing mechanisms to boost public revenues and private investments.
In its first phase, the Government integrated the SDGs into national planning, established baseline indicators, conducted a Development Finance Assessment (DFA), adapted the integrated SDG (iSDG) model for policy analysis, and formed an INFF Steering Committee and Core Working Group. The second phase focused on creating a sequenced action plan for improving financing flows from public and private sectors, resulting in a comprehensive Financing Strategy, launched at the UN General Assembly in September 2022. This has positioned Nigeria as a global frontrunner in the INFF.
Led by the Federal Government, the INFF Steering Committee is co-chaired by the Minister of Finance, and the UN Resident Coordinator, with secretarial support from OSSAP-SDGs. With support from UNDP and EU Delegation in Nigeria, the Government is now implementing strategic initiatives to enhance revenue generation and financing flows for sustainable development.
The Nigeria INFF portfolio integrates UNDP’s Tax for SDGs initiative and the Insurance and Risk Finance Facility (IRFF) as part of the Country Offer.
Some Key Achievements
- Revenue Mobilization and Tax Administration: Facilitated N756 million additional revenues in Ondo State Inland Revenue Service with improved collections of land use charges and personal income tax from high-net-worth individuals.
- Investment Facilitation for SDG Enterprises: Investment facilitation and technical assistance provided to over 30 SDG-aligned enterprises, with a focus on youth and women-owned businesses, raising US$15 million from global investors for EHA Clinics, Vittas International, and Agriarche.
- Investment Promotion in Gombe: Facilitated the establishment of the Gombe State Investment Promotion Agency, enabling N14 billion investments projected to create over 2,000 jobs. An additional N19 billion in investments is being mobilized across housing, agriculture, and solid minerals sectors.
- Improving Ease of Doing Business in Abia: Supported targeted reforms in Abia State that improved its ease of doing business ranking from 33rd in 2021 to 21st in 2023, largely driven by a 103.2% increase in investment promotion efforts.
- Investment Showcases in Ondo, Edo and Anambra: Supported Ondo State in showcasing investment opportunities at “Develop Ondo 2.0” and various diaspora summits, with anticipated investments exceeding NGN 50 billion. Additionally, assisted Edo State in identifying and promoting investment opportunities to both global and local investors. Supported the Anambra Investment Promotion and Protection Agency to organize the ANINVEST 2.0 summit during which commitment of $500 million was made in 6 market-ready projects showcased at the summit.
- Support for Artisanal and Small-Scale Miners: Formalized 120 artisanal and small-scale miners (ASMs) in Plateau State, providing training, equipment, and legal support, increasing their weekly output from 70 kg to 130 kg, and boosting both earnings and government revenue.
Upcoming Activities:
- Establishment of Nigeria INFF Resource Facility.
- Design of a Climate and Energy Facility for Nigeria Integrated Clean Energy Offer.
- Investment brokering for a new pipeline of SDG-aligned enterprises.
- Expansion of transfer pricing tax audits for oil and gas cases
- Development of a comprehensive M&E system for tracking taxpayer transactions
- Establishment of a criminal forensic lab for coordinated tax investigation