The Executive Chairman, Nigerian Capital Development Fund (NCDF), Hareter Babatunde Oralusi has extolled President Bola Tinubu for facilitating full autonomy for local governments in Nigeria even as he expressed willingness to support grassroots empowerment across the country.
Oralusi, a global social entrepreneur and impact investor also promised to mobilise significant investments for local government across the country once the process for complete autonomy is granted through legislation.
NCDF’s Executive Director, Chief Tajudeen Kareem who conveyed the commendation in a statement made available to LEADERSHIP on Thursday, stated the Fund’s readiness to mobilise required logistics, knowledge and resources to enable President Tinubu attain his vision for the development of the grassroots.
“The NCDF Group comprises EmergX Plc, the London School of Social Enterprise and Sustainable Economics in the United Kingdom, and Fatherland Holding Inc in the United States and we are prepared to mobilise all logistics, knowledge and resources to enable President Tinubu attain his vision for the development of the grassroots”, the statement read.
He added that, “The conglomerate is committed to the transformative power of local governments, and regards full autonomy as a solution to many of the issues currently facing Nigeria.”
Oralusi underscored autonomy to the local governments in Nigeria as a pathway to better service delivery and efficient governance at the grassroots level which will ultimately address infrastructure deficits, unemployment, and inadequate social services, among others.
“The autonomy of local governments will help solve fundamental problems that Nigeria is currently grappling with,” Oralusi said while also citing the successful models of local governance in the United Kingdom and the United States.
In these countries, he noted, that communities operate effectively through their local councils without the need to rely on the government at the central 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,” he added.
The statement highlighted that the NCDF has a history of promoting social and economic development through impact investments, adding that if local government autonomy becomes a reality in Nigeria, Oralusi is committed to mobilising substantial resources and investments into these autonomous councils towards enabling 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 channeling funds directly to these localities, ensuring that resources are effectively used for the public good,” the statement read.
He also called on Nigerians to support the Tinubu-led administration in its efforts to turn round the economy and plan for future resilience through structural restructuring.
Specifically, the executive chairman said with full autonomy, local councils can tap into initiatives targeting key sectors such as renewable energy, technology, agriculture, and affordable housing to directly support projects that create jobs, improve infrastructure, and enhance the quality of life for millions of Nigerians.
He added that EmergX Plc will play a significant role in the initiative by focusing on investing in underserved markets and transforming challenges into opportunities through strategic investments in early-stage businesses.
“This collaboration will ensure that local councils not only receive financial backing but also benefit from global expertise in impact investing, sustainability, and community development,” Oralusi said.
The statement stressed that the vision comes at a critical juncture as the nation continues to face numerous socio-economic challenges, including insufficient infrastructure, limited access to quality healthcare, and high rates of unemployment.
“This is an opportunity for us to change the narrative for our communities. By granting autonomy and empowering local councils, we are building a foundation for sustainable growth, community-driven development, and a prosperous future for all Nigerians,” Oralusi added.
