By Esther Ososanya
Nigeria’s Minister of Finance and Coordinating Minister of the Economy, Mr Wale Edun, has praised Lotus Capital Limited for its pioneering role in developing the country’s non-interest finance sector, stressing that innovative financing and private-sector collaboration are critical to achieving inclusive economic growth.
The development was disclosed in an official press statement issued on Tuesday by the Federal Ministry of Finance, following a high-level meeting between the minister and Lotus Capital’s leadership in Abuja.
During the meeting, led by Lotus Capital Managing Director, Mrs Hajara Adeola, Edun underscored the need for strategic partnerships between the public and private sectors to mobilise long-term, ethical capital for national development.
“Mobilising long-term, sustainable capital requires innovation and partnership. Non-interest finance offers a unique opportunity to channel investments into productive sectors that drive inclusive growth,” Edun stated.
Expanding the Non-Interest Finance Space
The discussions explored new ways to expand Nigeria’s non-interest finance sector, focusing on two major initiatives:
- Non-Interest Real Estate Investment Fund: Designed to attract ethical investment into the housing sector and improve access to property financing for underserved communities.
- Regular Sovereign Sukuk Issuance Programme: To provide stable financing for infrastructure projects while deepening Nigeria’s capital market liquidity.
These measures, officials say, would help boost infrastructure development, broaden financial inclusion, and draw in global ethical investors.
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Non-interest finance rooted in Islamic finance principles and guided by ethical investment rules has been gaining momentum in Nigeria. The country’s past sovereign sukuk bonds have financed major highway projects nationwide, and stakeholders are pushing to expand their application to health, housing, and renewable energy.
According to the Finance Ministry, these innovations align with President Bola Tinubu’s economic reform agenda, which prioritises sustainable financing models and robust public-private partnerships to address infrastructure gaps and reduce inequality.
Esther Ososanya is an investigative journalist with Pinnacle Daily, reporting across health, business, environment, metro, Fct and crime. Known for her bold, empathetic storytelling, she uncovers hidden truths, challenges broken systems, and gives voice to overlooked Nigerians. Her work drives national conversations and demands accountability one powerful story at a time.
