Lima:Nigeria Nigeria is looking to integrate global discussions on development finance into its national development strategies. This initiative follows the involvement of a Nigerian Technical Aid Corps (NTAC) delegation in an international forum held in Lima, Peru.
According to News Agency of Nigeria, Mr. Nkem Anyata-Lafia, Special Adviser on Media and Publicity to NTAC’s Director-General, Dr. Yusuf Yakub, highlighted that the Nigerian delegation, alongside representatives from various countries, engaged in discussions focused on development financing and enhancing data collection concerning resources that support sustainable development.
The NTAC delegation included Amb. Gwendy Omije, Deputy Director and Head of Administration, and Mrs. Bukola Ejiwale, Assistant Director of NTAC. The team interacted with international development partners and relevant platforms to ensure that the insights gained at the forum could be applied to Nigeria’s development priorities.
This participation is part of broader efforts to enhance transparency and accountability in development financing. Such efforts are particularly significant in terms of providing comparable data on the resources available to developing countries. The Total Official Support for Sustainable Development (TOSSD) framework, which tracks resources supporting sustainable development, was a key focus at the forum. This framework encompasses a broader range of financial flows than traditional development assistance, including grants, loans, and resources from South-South cooperation and multilateral institutions.
The TOSSD framework aids in monitoring the United Nations Sustainable Development Goals (SDGs), specifically Goal 17, which emphasizes the need for stronger global partnerships to mobilize resources for sustainable development. Recognized as a data source for SDG indicator 17.3.1, the framework measures additional financial resources mobilized for developing countries from various sources.
For Nigeria, enhancing information on development finance can assist policymakers in identifying available resources, assessing financing gaps, and improving coordination between international partners and national development plans. The forum’s importance lies not only in the discussion of financing volumes but also in the quality, transparency, and practical application of data in formulating development policies. Nigeria is a member of the International Forum on TOSSD, which includes various stakeholders such as recipient countries, traditional development partners, South-South cooperation providers, and international organizations.