As the world prepares for the Fourth International Conference on Financing for Development (FfD4), scheduled to hold on June 30, 2025, in Seville, Spain, Nigerian civil society organisations have issued a clarion call for transformative global reforms and urgent domestic policy shifts to address the growing financing gaps in the Global South.
This call to action is articulated in a newly launched advocacy position paper titled “Financing for Development in Nigeria: Sectoral Context and Insights for the Fourth International Conference.” The report was developed by the Civil Society Legislative Advocacy Centre (CISLAC), in collaboration with Oxfam in Nigeria, Christian Aid, International Budget Partnership, Tax Justice & Governance Platform, Connected Development, and other development partners under the Africa Agenda on Financing for Development (Agenda Afrique).
The report paints a concerning picture of Nigeria’s financing landscape, stating that the country is grappling with a “multidimensional financing gap” driven by weak domestic revenue mobilisation, unjust global financial rules, and rising exposure to climate change.
“Critical sectors like education, health, agriculture, and climate resilience continue to suffer from chronic underfunding,” the report warns. “Nigeria’s education spending still falls short of UNESCO’s benchmarks, health expenditure remains below 4% of GDP, and the country loses over \$18 billion annually through illicit financial flows. Debt servicing now consumes more than 70 percent of national revenue, leaving little fiscal space for meaningful investment in human development.”
The report further notes that while regional and global development frameworks—such as the African Union’s Agenda 2063, ECOWAS Vision 2050, and the United Nations Sustainable Development Goals (SDGs)—offer a roadmap for progress, implementation remains Nigeria’s Achilles heel. Core issues such as corruption, weak budget execution, outdated data systems, and poor public financial management continue to stall development.
“Most Nigerian states lack measurable development plans, which severely hampers progress tracking and discourages long-term investment,” the paper states, adding that decisive actions are needed at both federal and state levels to close these financing gaps and unlock national potential.
On the international front, Nigeria is using the upcoming FfD4 platform to advocate for a fairer global financial system. The country’s civil society is calling for major reforms in global tax rules, enhanced access to climate finance, and restructured concessional financing models that reflect the realities of countries with large populations living in poverty.
“We urge the international community to prioritise loss and damage financing, ensure equitable access to green investments, and reform Special Drawing Rights (SDRs) to better serve middle-income countries bearing heavy poverty burdens,” the report demands.
Domestically, the paper outlines actionable policy proposals aimed at strengthening Nigeria’s financial resilience. These include:
* Digitalising the tax system to promote equitable and efficient taxation
* Simplifying trade and customs processes to spur industrial growth
* Launching targeted anti-corruption and asset recovery initiatives
* Establishing development finance mechanisms to de-risk private sector investments in infrastructure and social services
* Institutionalising peer learning platforms to enhance innovation in state-level financing strategies
In a particularly urgent tone, the report flags Nigeria’s worsening brain drain as a critical issue. “The steady emigration of skilled young professionals is a direct symptom of weak economic inclusion. Without urgent investments in youth employment and innovation, the country risks losing its greatest asset—its human capital,” it said.
As the international community prepares to reconvene for FfD4, Nigeria, through its civil society, is positioning itself as a leading voice for a just and equitable global financial order. The report ends with a powerful call to action.
“This moment is pivotal. As the world gathers to renew its development financing commitments, Nigeria stands ready to champion equity, accountability, and inclusion. The FfD4 conference presents a crucial opportunity to reshape global financing and unlock the investments necessary for a just, resilient, and inclusive future.”