Lagos Governor Sanwo-Olu and Former Governor Fashola Promote Non‑Interest Finance for Nigeria’s Growth

At the “Beyond Interest” forum organized by The Alternative Bank in Victoria Island, Lagos, Governor Babajide Sanwo‑Olu and former Governor Babatunde Fashola called for wider adoption of non‑interest (Islamic) finance to mobilise long‑term capital for productive sectors of Nigeria’s economy. They urged the government to act as an enabler, providing infrastructure and a conducive business environment, while investors were asked to prioritize patient capital that creates jobs, strengthens infrastructure and builds economic resilience.

Chairman Muhtar Bakare highlighted that Nigeria’s main challenge is the lack of patient capital rather than a shortage of funds. Speakers from the financial sector stressed the need for ethical capital allocation to support infrastructure projects, enterprise growth and sustainable wealth creation across the country.