DFIs critical to bridging Nigeria’s financing gap – BoI

The Chairman of the Association of Nigerian Development Finance Institutions, Mr Olukayode Pitan has said that Development Finance Institutions must explore creative approaches, and collaborative efforts to bridge the financing gap and drive the transformative changes that Nigeria desperately needs.

Pitan said this yesterday in Abuja at the 3rd Association of Nigerian Development Finance Institutions Annual General Assembly.

The event, which had the theme, “Innovative Financing for Developmental Impact,” was attended by stakeholders in the Development Finance sector of the Nigerian economy.

Pitan noted that “Although innovative financing presents a veritable tool for DFIs to raise additional resources for development, specific market failures and institutional barriers prevent private investment from flowing to developing countries”.

Speaking further, Pitan explained that “there is a need for fresh ideas, creative approaches, and collaborative efforts to bridge the financing gap and drive the transformative changes our country desperately needs.”