Nigeria, Netherlands Deepen Collaboration on Financial Inclusion
Nigeria and the Netherlands have agreed to deepen collaboration aimed at improving financial inclusion and financial health among Nigerians, particularly women and vulnerable groups.
The agreement was reached during a bilateral meeting between Vice President Kashim Shettima and Queen Máxima of the Netherlands in New York, United States.
Under the arrangement, the Netherlands will leverage its expertise and experience in financial health to support programmes being implemented by the Nigerian government to expand access to financial services.
Shettima welcomed the Netherlands’ offer of support, describing its focus on financial health and inclusion as timely and relevant to Nigeria’s development priorities.
The Vice President noted that financial inclusion has direct links to education, security and poverty reduction. He cited government initiatives, including conditional cash transfers and agricultural-sector schemes, as part of ongoing efforts to improve the economic well-being of Nigerians.
He also highlighted the role of leading African fintech companies in supporting Nigeria’s efforts to reach financially excluded populations, noting that government policies have created an environment for such companies to contribute to the country’s financial inclusion drive.
Shettima also defended the economic reforms of the President Bola Ahmed Tinubu administration, describing them as necessary in view of the condition of the Nigerian economy when the administration assumed office in 2023.
Queen Máxima, who also serves as the UN Secretary-General’s Special Advocate for Financial Health, commended efforts to strengthen financial inclusion in Nigeria and pledged continued support through the sharing of expertise and experience.
She identified areas including insurance, credit guarantees and data generation as areas where the Netherlands could support Nigeria, adding that financial health is essential to strengthening citizens’ resilience, protecting investments and expanding access to insurance.
The Queen also urged private-sector stakeholders to regard the financial health of their customers as a key factor in the sustainability and growth of their businesses.
The Minister of Finance and Coordinating Minister of the Economy, 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 the Federal Government was vigorously pursuing financial inclusion as part of efforts to enable low-income Nigerians to improve their livelihoods and quality of life.
The statement was signed by Stanley Nkwocha, Senior Special Assistant to the President on Media and Communications, Office of the Vice President.
Nigeria, Netherlands Deepen Collaboration on Financial Inclusion