Nigeria development finance overhaul urged to close N50tn gap

A leading private sector advocacy group has called for a major overhaul of Nigeria's development finance system, warning that the country's productive sectors face a crippling funding shortfall exceeding 50 trillion naira. The Centre for the Promotion of Private Enterprise (CPPE) issued the urgent appeal in a policy brief released on Sunday, August 2, 2026, urging the federal government and the Central Bank of Nigeria (CBN) to implement sweeping reforms.

The organization, led by its Chief Executive Officer, Dr. Muda Yusuf, argues that Nigeria's current financial architecture is structurally incapable of providing the affordable, long-term capital required by manufacturers, farmers, agribusinesses, exporters, and micro, small, and medium-sized enterprises (MSMEs). The CPPE contends the problem is not a lack of liquidity but deep-seated market failures, citing prohibitive interest rates, short loan tenors, stringent collateral demands, and a lack of patient capital as primary constraints.

The financing gap is particularly acute in key sectors. Agriculture, which contributes over one-fifth of Nigeria's Gross Domestic Product, historically receives less than five percent of total...