Fiona Nanna, ForeMedia News

5 minutes read. Updated 3:22AM GMT Tues, 1 October, 2024

In a powerful message of support for grassroots empowerment, Hareter Babatunde Oralusi, a global social entrepreneur and impact investor, has vowed to mobilize significant investments for local government councils across Nigeria if complete autonomy is granted to them through legislation. Oralusi, who is the Chairman & CEO of the Nigerian Capital Development Fund (NCDF Group), EmergX Plc, the London School of Social Enterprise and Sustainable Economics in the United Kingdom, and Fatherland Holding Inc in the United States, made this commitment during an interview in London with Fiona Nana of the ForeMedia Group.

During the interview, Oralusi highlighted the transformative power of local government autonomy as a solution to many of the issues currently facing Nigeria. He emphasized that granting autonomy to local councils would lead to better service delivery and efficient governance at the grassroots level, ultimately addressing 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 stated. He further pointed out the successful models of local governance in countries like the United Kingdom and the United States, where communities operate effectively through their local councils, without the need to rely heavily on higher levels of government. “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.

Oralusi’s organizations, including NCDF Group and EmergX Plc, have a history of promoting social and economic development through impact investments. If local government autonomy becomes a reality in Nigeria, Oralusi has pledged to mobilize substantial resources and investments into these autonomous councils, 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,” he stated.

Oralusi also called upon Nigerians to support the administration of President Bola Tinubu in its efforts to grant autonomy to local councils. He emphasized that local autonomy is crucial for moving the country forward, ensuring that development reaches every corner of the nation, and that communities can thrive independently. “I appeal to Nigerians to back this reform, as it will empower our communities and ensure that citizens have direct access to the resources and services they need,” he said.

The local government autonomy would enable councils to make financial decisions, manage their own budgets, and undertake development projects that cater to the specific needs of their communities without unnecessary interference from higher levels of government. Such a reform would create an enabling environment for investments, as decision-making processes would be faster, more efficient, and tailored to the needs of the local populace.

The Nigerian Capital Development Fund (NCDF Group) has already demonstrated its commitment to grassroots development through numerous initiatives targeting key sectors such as renewable energy, technology, agriculture, and affordable housing. With the promised autonomy, NCDF aims to further strengthen its partnership with local councils to directly support projects that create jobs, improve infrastructure, and enhance the quality of life for millions of Nigerians.

In addition to EmergX Plc, an impact investment platform based in the United Kingdom, will also play a significant role in the initiative. EmergX Plc focuses on investing in underserved markets, 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’s vision comes at a critical juncture for Nigeria, as the nation continues to face numerous socio-economic challenges, including insufficient infrastructure, limited access to quality healthcare, and high rates of unemployment. By empowering local governments with autonomy and providing them with the necessary financial resources, Oralusi and his global associates are interested to initiate a wave of positive change, transforming local economies and uplifting marginalized communities.

Oralusi concluded by emphasizing the urgency of this opportunity, noting that local government autonomy is a crucial step in Nigeria’s path toward becoming a self-sufficient and economically thriving nation. “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.”

The call for local government autonomy has been gaining momentum, with numerous stakeholders recognizing the potential benefits of decentralizing power to the grassroots level. With strong advocacy from influential leaders like Hareter Babatunde Oralusi and a commitment to mobilizing both local and international investments, Nigeria could be on the brink of a significant governance transformation—one that directly benefits its citizens and accelerates national development.

About Hareter Babatunde Oralusi

Hareter Babatunde Oralusi is a leading social entrepreneur and impact investor with a focus on socio-economic development and poverty alleviation. As Chairman & CEO of NCDF Group, EmergX Plc, and other impactful entities, Oralusi is dedicated to fostering innovation, sustainability, and grassroots development in Nigeria and beyond.

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