By Mustafa Abubakar
The Head of Fiscal and Tax Reforms Implementation at the Federal Inland Revenue Service (FIRS), Mr Olufemi Michael Olarinde, has emphasised that Nigeria’s sustainability ambition can only be realised through robust policy implementation, regulatory clarity, enhanced enforcement, and capacity building.
Mr Olarinde made this submission last Wednesday (May 7, 2025), while delivering a keynote address at the Finnovation 3.0 Conference organised by “The Investment Society”, University of Ilorin, held at the University Auditorium. He said that integrating carbon pricing and green finance into the national agenda is vital.
Speaking on the theme, “Sustainable Finance and Investment Opportunities in Emerging Markets”, the financial expert stressed the significance of small actions.
According to him, “Whether it is adopting sustainable practices in our communities or championing green investments, every effort contributes to a more sustainable future.”
Mr Olarinde explained that Nigeria’s regulatory environment already accommodates green policies, including frameworks for renewable energy and energy efficiency, supported by legislative instruments such as the Finance Act 2021, the VAT Modification Order 2024, and the Electricity Act 2023.
He also highlighted the National Tax Policy, which emphasises environmental taxation and promotes fiscal measures aligned with sustainable goals to discourage pollution, which, he said, are further backed by the Climate Change Act of 2021.
Also speaking, the Head of Retail and Mutual Fund Sales at United Capital Asset Management, Mr Adedayo Durojaiye, stressed that sustainability must be a priority for every Nigerian.
Mr Durojaiye said, “Tomorrow must be a priority; securing today and tomorrow through finance and balanced sustainability means investing wisely, particularly in non-interest finance that yields dividends.”
He encouraged participants to consider investment options such as SUKUK funds.”At United Capital, we also manage infrastructure funds used for electricity development across various sectors. We are committed to supporting the government and sustainable finance initiatives to help people secure tomorrow”, he added.
In his remarks, the Staff Adviser of the society, Mr Wasiu Oluwatoyin Ibrahim, expressed delight at the success of the third edition of the event. He explained that the conference aims to showcase the link between investment, finance, and economic development.
Mr Ibrahim said that the Conference “is an annual event of TIS, bringing experts from various fields to engage participants on trending issues in finance and investment.”
Other speakers at the event included Mr Taiwo Olufemi Adekeye, an alumnus of the University who transitioned from Engineering to Finance; Mr Michael Ayodele, an investment banker and corporate trainer; Mr Yinka Ajetuberu, a corporate finance expert; Ms Bomate, a policy analyst; Mr Femi Oladele, a financial markets expert; and Mr Oluwasegun Popoola of United Capital.
Earlier in his opening remarks, the President of the Society, Emmanuel Oyinloye, a penultimate medical student at the University, described the Conference as the flagship event of the society. He appreciated donors and the University management for providing an enabling environment.
He encouraged members to stay up to date with evolving trends in the financial markets, adding that the society is open to students from all academic disciplines, not just those in finance or accounting.
Highlights of the event included panel sessions and the presentation of awards to deserving guests and participants.
Participants were drawn from various departments of the University and from other institutions within and outside Kwara State.
