The Federal Government has reiterated its commitment to expanding financial inclusion across Nigeria through the deployment of digital identity systems and pro-growth regulatory frameworks.
The Minister of State for Finance, Dr Doris Uzoka-Anite, made this known on Wednesday at Semafor’s Next 3 Billion Tour held at the Transcorp Hilton, Abuja.
The event, organised by Semafor in partnership with the Bill and Melinda Gates Foundation, brought together policymakers, business leaders, innovators, and civil society representatives to translate global research on inclusion and connectivity into country-level action. The Abuja session follows the New York summit held on the sidelines of the 2025 United Nations General Assembly and precedes similar engagements across Africa and the Middle East.
Speaking on a panel moderated by Semafor’s Yinka Adegoke, Dr Uzoka-Anite highlighted progress made under President Bola Ahmed Tinubu’s Renewed Hope Agenda, citing the expansion of trusted digital identity systems, agent banking, and mobile money platforms as key drivers of inclusion.
“Trust is the foundation of inclusion. With NIN and BVN strengthening identity verification, more Nigerians can be safely onboarded into the financial system,” she said.
The Minister explained that mobile-first solutions and nationwide agent networks were lowering barriers to access, enabling Nigerians to transact, save, and receive payments within their communities without reliance on extensive physical infrastructure.
She acknowledged the growing impact of platforms such as Moniepoint, OPAY, and PalmPay, alongside bank-led wallets and agency services, in promoting daily financial activities such as payments and remittances for households and small businesses.
Dr Uzoka-Anite added that new consumer credit reforms were being designed to help Nigerians not only spend but also build assets and long-term financial security.
“When people can save securely within the financial system instead of keeping cash at home that is vulnerable to theft, fire, or flooding, they protect their income capital and strengthen long-term stability,” she noted. “Our focus is practical and people-centred expanding connectivity, improving affordability, raising digital literacy, and keeping regulation smart so innovation can scale responsibly.”
The Minister commended the Central Bank of Nigeria and other ecosystem partners for enhancing settlement infrastructure and driving the growth of agent banking nationwide. She, however, acknowledged persisting challenges such as limited power supply, weak connectivity, and low digital skills, pledging continued collaboration with relevant ministries, regulators, states, and the private sector to address them.
“Change can feel gradual, but days like today show the distance we have covered,” she said. “Under the Renewed Hope Agenda, we will keep linking policy to the tools people actually use on their phones every day to work, trade, and save.”
She thanked Semafor, the Gates Foundation, and participants for fostering a solutions-oriented dialogue. The Next 3 Billion Tour highlights insights from the Global Findex 2025 Report and the Global Digital Connectivity Tracker to inform inclusive growth strategies in key emerging markets.
With the government’s renewed focus on digital identity, fintech innovation, and enabling regulation, Nigeria is positioning itself to accelerate financial inclusion and drive inclusive economic growth for all citizens.
