A role for the Development Bank of Nigeria

In this article for Stears, I look at the role Development Banks can play in Nigeria’s industrialisation and diversification agenda, you can read it here. But below is an excerpt:

BOI

“Development Banks are set up to deliver economic priorities of the government which are not adequately met by the banking sector. The rationale for this is clear: private lending in Nigeria is primarily commercial and usually short term while government projects – like infrastructure – require long-term funding. Development Banks fill this financing gap. Perhaps more importantly in a country like Nigeria, such institutions are instruments of the government which can be used to shape and coordinate development in a way private banks are unable to.

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