The Executive Director, Commercial and Institutional Banking for Lagos and the South-West at The Alternative Bank, Korede Demola-Adeniyi, has called for stronger public-private collaboration and predictable government policies to accelerate blended finance and unlock private capital for inclusive economic growth in Nigeria.
Demola-Adeniyi made the call at the Africa Social Impact Summit High-Level Policy Engagement held at the State House Conference Centre, Abuja, according to a press statement issued on Thursday. The session was hosted by the Office of the Vice President in partnership with the Sterling One Foundation and the United Nations Nigeria, under the theme Scaling Action: Driving Inclusive Growth Through Policy and Innovation.
She said blended finance, when properly structured, could deliver commercially viable outcomes while advancing national development priorities. According to her, transparency in risk-sharing among government, development finance institutions, banks, and private investors is key to attracting sustainable capital.
Demola-Adeniyi noted that DFI-supported blended finance arrangements often show stronger repayment performance than conventional lending, provided risks are clearly allocated and projects are closely monitored. However, she warned that inconsistent policies discourage investors.
“Private capital will not be committed at scale when the rules can change halfway through execution. If we want investors to show up, policy has to be predictable,” she said.
She explained that The Alternative Bank approaches financing as a partnership rather than a traditional interest-based transaction, assessing project viability through profitability, profit-sharing arrangements, and clearly defined responsibilities.
Citing practical examples, she highlighted the bank’s electric mobility initiative in Kano, delivered through the UK government’s FCDO-funded LINKS programme. The project involved training about 100 women, certifying 30 mechanics, and supporting operations with tools, service centres, and battery recharging infrastructure.
Demola-Adeniyi identified policy inconsistency as a major risk that can strand capital after projects have been funded. She urged policymakers to adopt multi-year blended finance frameworks with stabilisation provisions to protect approved transactions.
She added that predictable rules are essential for achieving long-term economic goals, including Nigeria’s ambition of building a $1tn economy.
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