Financing Nigeria's Infrastructure Deficit: Opportunities In The Finance Market - Toyin Sanni

Proshare

Tuesday, January 07, 2020 / 6:48 PM / Bukola Akinyele for WebTV / Header Image Credit: WebTV

 

With Nigeria's need to invest in infrastructure to unlock the economy and create more jobs, the prospects for increasing financing through alternative sources came to the fore at a recent Islamic Finance forum in Lagos.

 

The forum explored how to deepen the financing of Africa's infrastructure deficits through Islamic Finance with products like Sukuk Bonds creating opportunities for stronger market intervention.

 

In her remarks, the Group Chief Executive Officer of Emerging Africa Capital Mrs. Toyin Sanni believed that as Africa sets out to achieve its sustainable development goals in the new decade, Islamic Finance has the potential to support these aspirations through its financing model.

 

She reminded stakeholders that Africa has a lot to do in the area of addressing social issues like the eradication of poverty, achieving zero hunger, providing clean water, and having access to good health which are part of the key components of the United Nation's sustainable development goals.

 

According to Sanni, creative financing solutions is about improving the quality of life of Nigerians achievable through the development of critical infrastructure.

 

Speaking further, she noted that across Africa, here is a massive infrastructure gap that needs various types of funding, including non-interest finance covered by Islamic Finance.

 

She said there are investable funds that are in the middle east, far east, Europe and other parts of the globe that are looking for attractive outlets that meet certain criteria and that is where the Sukuk market comes to play. 

 

In terms of opportunities for the market, she was of the view that there is a lot more that could be happening both in Nigeria and in the rest of Africa.

 

She stressed the fact that there is a significant capacity gap to address as a market, such as an inadequate number of institutions that offer tailored products.

 

On Sukuk, Sanni said that they provide viable opportunities for Nigeria to raise capital, meet its huge infrastructure needs and also provide opportunities for the nation to include those who will otherwise not invest in the market.

 

"For us to get to where we need to go, the regulators, the operators and all other stakeholders have a significant role to play in deepening the non-interest finance market and making it attractive to investors."

 

Sanni said one of the initiatives developed through the capital market committee is to inculcate capital market studies which will include non-interest finance products in the curriculum for both secondary schools and tertiary institutions across Nigeria.


Proshare Nigeria Pvt. Ltd.

 

Related News

1.       2019 Review of Developments In Islamic Finance In Nigeria

2.      Adoption of Shariah-Compliant Finance Solutions Will Bring Transformation To Nigeria's Economy

3.      Islamic Finance Global Asset Projected To Reach $3.8trn By 2023 - Tajudeen Sekoni

4.      How The NSE Promotes Investor Education in Non-Interest Finance - Jude Chiemeka

5.      How Islamic Finance Supports Nigeria's Sustainable Development Goals-HRH Muhammadu Sanusi II

6.      Measuring The Prospects For Sukuk and Infrastructure Financing In Nigeria

7.       How The Capital Market Supports Non-Interest Finance In Nigeria

8.      Standardization and Awareness, Key To the Growth Of Islamic Finance In Nigeria - Banji Fehintola

9.      AFN To Participate In African Islamic Fintech Summit on 29th and 30th, November 2019 In Senegal

10.  Islamic Finance: Women Can Run Businesses That Are Sharia Compliant - Dr. Tajudeen Yusuf

11.    How Islamic Finance Can Deepen Financial Inclusion In Nigeria - Hassan Usman, MD, Jaiz Bank

12.   Stakeholders At AICIF 2019 Urge For Expansion of Sukuk, Waqf and Takaful

13. Sanusi Calls For Robust Regulatory and Legal Framework To Deepen Non-Interest Finance In Nigeria

14. African International Conference On Islamic Finance To Hold On 4th and 5th November 2019 In Lagos

15.   Sukuk Bonds Can Address The Infrastructure and Housing Deficits In Nigeria - Dr Aliyu Dahiru


Proshare Nigeria Pvt. Ltd.


Proshare Nigeria Pvt. Ltd.

READ MORE:
Related News
SCROLL TO TOP