Business
Nigeria Champions African Position On ASSET Recovery At UN FfD4 In Seville
As the world grapples with the challenges of sustainable development,
the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite has highlighted the significant impact of illicit financial flows and financial crime on sustainable development in Nigeria and across Africa
Addressing key stakeholders on *Safeguarding Sustainable Development Finance by Addressing Illicit Financial Flows and Fighting Financial Crimes*
at the United Nations Headquarters in New York on Thursday ahead of the Fourth International Conference on Financing for Development (FfD4) in Seville, Dr Doris Uzoka-Anite underscored Nigeria’s commitment to addressing these challenges.
She stated that recent estimates informs that Africa loses $88.6 billion annually to illicit financial flows, with Nigeria accounting for approximately 20% of these losses, noting that these outflows hinder the country’s ability to provide essential infrastructure and services to its citizens.
*These illicit financial flows are a major obstacle to our development, depriving our citizens of essential services and infrastructure. We must work together to ensure that our resources are utilized for the benefit of our citizens.*
To address this challenge, the Minister said, *Nigeria remains committed to multilateral cooperation through our*
*championing of the Common African Position on Asset Recovery (CAPAR) and supporting the UN Framework on international tax cooperation.*
Dr. Uzoka-Anite emphasized the importance of enhancing beneficial ownership transparency and improving information sharing across borders to make asset recovery more efficient. *True progress requires equity in global financial systems. We must work together to build better systems that ensure resources remain where they belong – financing sustainable development for our citizens,* she stated.
The Minister reaffirmed Nigeria’s commitment to collaborating with international partners to achieve a more equitable and sustainable financial system. *By working together, we can ensure that resources are utilized for the benefit of all citizens rather than being siphoned off through illicit means. We owe it to ourselves, our children, and future generations to take bold action against illicit financial flows and financial crime,* Dr. Uzoka-Anite reiterated
As Nigeria continues to champion this critical cause, the international community is urged to join forces in the fight against Illicit financial flows, ensuring a brighter future for all.
Business
DR Doris Uzoka -Anite Advocates For Tax Ttrsnparency Goals, Climate Finance Partnerships With Norway At 2025 UN Meetings
As part of Nigeria’s proactive engagement with global development partners, the Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite held a strategic bilateral meeting with Ms. Stine Renate Håheim, Norwegian Deputy Minister of International Development, on the sidelines of the 2025 UN Meetings in New York.
During the meeting, Dr. Uzoka-Anite advocated for strengthened collaboration between Nigeria and Norway in key areas, including tax transparency goals, debt restructuring efforts, and climate finance partnerships. Specifically, she explored opportunities for partnership under NORAD’s “Energy for Development” platform, which aligns with Nigeria’s goals for sustainable energy development and climate resilience.
The meeting underscores Nigeria’s commitment to leveraging international partnerships to drive economic growth, improve governance, and achieve sustainable development.
Business
Nigeria Strenghtens Development Partnership With Sweden On The Sidelines Of 2025 UN Meetings
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite has held strategic bilateral talks with Ms. Diane Janse, Swedish State Secretary for International Development Cooperation, on the sidelines of the 2025 UN Meetings held in New York, USA.
The meeting focused on strengthening Nigeria’s partnerships with Sweden in key areas, including technology innovation, digital ecosystems, and green economy partnerships, exploring opportunities for collaboration that would drive sustainable development and economic growth in Nigeria, underscoring Nigeria’s commitment to leveraging international partnerships to achieve its development goals.
The Federal Government looks forward to working closely with Sweden and other development allies to implement impactful projects that will transform the lives of millions of Nigerians in line with the Renewed Hope Agenda of the present administration.
The bilateral engagement is part of Dr. Uzoka-Anite’s engagements at the 2025 UN Meetings in New York, showcasing Nigeria’s proactive approach to global development partnerships.
In pursuit of its development agenda, the Federal Government has urged the World Bank Group to prioritize targeted investments in critical sectors that drive sustainable development aimed at elevating Nigeria’s Development Agenda.
The Honourable Minister of State for Finance, Dr. Doris Uzoka-Anite, made the urge in New York when she participated in the thematic session on the World Bank Group’s Contribution to Financing for Development (FFD), where she underscored the need to match the Bank’s expanded financial capacity with targeted, transformative investments in key sectors of the economy.
Dr. Uzoka-Anite emphasized the importance of investments in agriculture, energy access, and human capital, citing impactful World Bank-supported programmes like the Agriculture Sector Recovery and Sustained Livelihoods Programme (ACReSAL) and ANRiN.
The Minister highlighted these programmes as examples of effective cooperation between Nigeria and the World Bank Group, demonstrating the potential for strategic investments to yield meaningful development outcomes.
By prioritizing targeted investments in key sectors, the World Bank Group can play a more impactful role in supporting countries like Nigeria to achieve their development goals. The Federal Government reaffirms its commitment to partnering with the World Bank Group to drive sustainable development and improve the lives of Nigerians in line with the Renewed Hope Agenda of the President Bola Ahmed Tinubu-led Administration
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