Nigeria and the Netherlands have agreed to strengthen cooperation on financial inclusion, with the Dutch government offering to share its expertise in financial health.
The agreement was reached during a bilateral meeting between Vice President Kashim Shettima and Queen Maxima of the Netherlands in New York, United States.
The partnership will see the Netherlands support programmes being implemented by Nigeria to expand access to financial services, particularly for women and vulnerable groups.
Shettima said financial health and inclusion were closely linked to education, security and poverty reduction in Nigeria.
He highlighted government initiatives such as conditional cash transfers and agricultural schemes as part of efforts to improve financial inclusion, adding that fintech companies were also playing a significant role in expanding access to financial services.
The Vice President said the economic reforms introduced by the Bola Tinubu administration were necessary because of the condition of the economy when the government assumed office in 2023.
Queen Maxima, who is the UN Secretary-General’s Special Advocate for Financial Health, acknowledged Nigeria’s efforts to improve financial inclusion and pledged support through the sharing of expertise and experience.
Areas identified for cooperation include insurance, credit guarantees and data generation.
Queen Maxima said the financial health programme was designed to strengthen citizens’ resilience, protect investments and expand access to insurance.
She also urged private sector operators to treat the financial health of their customers as an important factor in the sustainability and growth of their businesses.
Minister of Finance Taiwo Oyedele said existing policies on insurance and pensions, alongside recent measures announced by the Central Bank of Nigeria, would help improve access to credit and reduce its cost.
He added that financial inclusion remained a key focus of the administration as part of efforts to improve the livelihoods of poorer Nigerians.
Discussion0