By Chidi Ugwu
The Federal Government on Tuesday engaged in discussions with Lotus Capital, a pioneer in non-interest finance, to explore strategies for expanding the non-interest finance sector in the country.
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Mohammed Manga, the Director, Information and Public Relations in the Ministry of Finance made this known in a statement on Tuesday, noted that the talks came during a meeting at the Minister’s Abuja office, where the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, received a delegation from Lotus Capital, headed by Managing Director Mrs. Hajara Adeola.
Manga further noted that Edun praised Lotus Capital Limited for its leadership role in advancing non-interest finance in Nigeria, stressing that the talks aim to leverage the sector as a driver of inclusive economic growth, highlighting the government’s commitment to broadening ethical and interest-free financial services for banked and unbanked populations alike.
According to the statement, key topics included the potential launch of a Non-Interest Real Estate Investment Fund and the establishment of a regular sovereign sukuk issuance program, adding that the initiatives are aimed at attracting ethical investments into critical infrastructure, increasing market liquidity, and expanding access to finance for underserved communities.
“The discussions focused on expanding Nigeria’s non-interest finance sector to foster inclusive economic growth.
“Key topics included the potential launch of a Non-Interest Real Estate Investment Fund and the establishment of a regular sovereign sukuk issuance program. These initiatives are aimed at attracting ethical investments into critical infrastructure, increasing market liquidity, and expanding access to finance for underserved communities.
“Mr. Edun emphasized that collaboration between the public and private sectors is crucial for mobilizing sustainable, long-term capital to drive national development. The meeting highlighted the Ministry of Finance’s commitment to exploring innovative financing solutions and underscored the vital role of public-private partnerships in advancing Nigeria’s non-interest finance sector” reads part of the statement.
The collaboration underscores the growing interest in alternative finance models that align with ethical values and support financial inclusion across Nigeria.
