Nigeria and the United Nations Capital Development Fund (UNCDF) have agreed to sign a Memorandum of Understanding as part of the efforts to raise interest-free loans and broader support for small businesses in the country.
The agreement, according to the media aide to the Minister of Foreign Affairs, Alkasim Abdulkadir, was reached at the Fourth International Conference on Financing for Development (FFD4), in Seville Spain.
Minister, Amb. Yusuf Tuggar led the Nigerian delegation to the meeting where he met with Mr. Pradeep Kurukulasuriya, the Executive Secretary of UNCDF.
At the meeting, Tuggar and Kurukulasuriya were said to have discussed issues bothering on deepening collaboration to support job creation and SME growth in Nigeria.
“Both parties agreed in principle to sign a Memorandum of Understanding (MoU) aimed at providing interest-free loans and broader support for small businesses,” Abdulkadir stated.
The minister, according to the statement, also sought Swedish technical expertise for the implementation of Nigeria’s newly signed tax reform policy.
He also solicited Sweden’s reciprocal support for Nigeria’s bid for a non-permanent seat on the United Nations Security Council for the 2030–2031 term.
Tuggar, his media aide, delivered a powerful national statement on behalf of President Bola Ahmed Tinubu at the conference, reaffirming Nigeria’s commitment to financial inclusion and economic empowerment.
In his address, the Minister highlighted Nigeria’s strategic efforts to scale up the capacity of its development finance institutions, such as the Bank of Industry and Bank of Agriculture, to better support micro, small, and medium-sized enterprises (MSMEs), with a particular focus on women and youth-led businesses.
“On the sidelines of the conference, Minister Tuggar served as the keynote speaker at the launch of the Green Guarantee Group (GGG), where he emphasized Nigeria’s commitment to green financing and sustainable development goals.
“The Minister also engaged in high-level bilateral meetings to strengthen Nigeria’s international partnerships.
“These engagements underscore Nigeria’s proactive diplomacy and unwavering commitment to building inclusive, sustainable economic pathways for its citizens,” the statement further stated.
