THE EXECUTIVE Chairman, Nigerian Capital Development Fund (NCDF), Hareter Babatunde Oralusi, has promised to support grassroots empowerment across the country while eulogising President Bola Ahmed Tinubu for enabling the autonomy of local governments in Nigeria.
A statement on Thursday by NCDF’s Executive Director, Chief Tajudeen Kareem, said “Oralusi, a global social entrepreneur and impact investor, has promised to mobilise significant investments for local government councils across Nigeria if complete autonomy is granted to them through legislation”.
According to Chief Kareem, the NCDF is a coalition comprising EmergX Plc, the London School of Social Enterprise and Sustainable Economics in the United Kingdom, and Fatherland Holding Inc in the United States (US).
The statement noted NCDF’s readiness “to mobilise all logistics, knowledge and resources to enable President Tinubu attain his vision for the development of the grassroot”.
It also stressed that Oralusi expressed the fund’s commitment to the transformative power of local governments, and regards full autonomy as a solution to the many issues currently facing Nigeria.
While emphasising that granting autonomy to local councils would lead to better service delivery and efficient governance at the grassroots level, Oralusi sail autonomy will ultimately address critical issues such as infrastructure deficits, unemployment, and inadequate social services.
“The autonomy of local governments will help solve fundamental problems that Nigeria is currently grappling with,” Oralusi was quoted as saying noting that the successful models of local governance in the United Kingdom and the United States, where communities operate effectively through their local councils without the need to rely on the central government for basic needs like housing and municipal amenities.
“In the UK, local councils are empowered to meet community needs, and in the US, local councils are responsible for a range of services that ensure the well-being of residents. This model allows people to get what they need at the local level, without unnecessary bureaucracy,” Oralusi said.
According to the statement, the NCDF has a history of promoting social and economic development through impact investments.
Oralusi pledged that if local government autonomy becomes a reality in Nigeria, he is prepared to mobilise substantial resources and investments into these autonomous councils, which will enable them to enhance the lives of residents and promote sustainable development.
“With full autonomy, local governments will have the capacity to initiate projects that reflect the specific needs of their people. We will support them by channelling funds directly to these localities, ensuring that resources are effectively used for the public good,” said Oralusi as he called on Nigerians to support President Tinubu in his effort to turnaround the economy and plan for future resilience trough structural restructuring.
According to Oralusi, with full autonomy, local councils can tap into initiatives targeting key sectors such as renewable energy, technology, agriculture, and affordable housing, areas where NCDF has capacity for partnership to directly support projects that create jobs, improve infrastructure, and enhance the quality of life for millions of Nigerians.
