Innovative Financing Models and Sustainable Development in the Nigerian Industries; A Conceptual and Theoretical Review

Abstract

This research paper explores the nexus between innovative financing models and sustainable development within the context of Nigerian industries. Nigeria, as a rapidly developing nation, faces multifaceted challenges concerning economic growth, social well-being, and environmental sustainability. Innovative financing models have gained prominence as a means to address these challenges, offering the potential to drive inclusive and sustainable development. The literature review delves into the dimensions of sustainable development, traditional financial models, and their limitations, as well as innovative financial models such as green bonds, impact investment, microfinance, and public-private partnerships. The study concludes with policy implications, offering recommendations for policymakers, regulatory reforms, capacity building strategies, and the importance of fostering collaboration among stakeholders to drive the adoption and effectiveness of innovative financial models for sustainable development in Nigerian industries. This research contributes to the discourse on sustainable development in emerging economies and provides valuable insights for policymakers, practitioners, and academics.