For Nigeria to attain its Sustainable Development Goals, SDG, leaders in both private and public sectors must collaborate in the implementation of the set goals.
This comes as the Federal Government, FG, estimates the funding requirements for the goals to be attained at about $10 billion annually.
Meanwhile, Governor of Edo State, Godwin Obaseki said there is too much wastage in government especially at the federal level stressing that unless waste is eliminated the nation will be in deeper trouble.
Achieving SDGs
Speaking at the just concluded 29th edition of the Nigeria Economic Summit, NSE#29, in a panel session, titled, ‘Half Point to 2030: Rethinking the Strategy Towards Achieving the SDGs’, leaders in both private and public sector, advocated for strict adherence to fiscal responsibility and application of innovative ideas to achieve success.
They said it is imperative to assess the nation’s strategy, find out the progress made towards the SDGs, and ascertain the various challenges hindering success. To ensure meaningful advancements, Nigeria, they said, must priorities poverty reduction, quality education, healthcare access, and sustainable economic growth. They were of the view also that data unification across all levels of government with digital tools would help in easy implementation and project tracking.
$10bn funding needed
The Senior Special Adviser to the President on SDGs, Mrs. Adegoke Orelope-Adefulire, disclosed that the biggest challenge to the goals attainment is how to raise the $ 10 billion funding required to finance the SDGs annually because, according to her, the budget of both Federal and sub-national governments put together can’t match the half of the said fund needed to implement SDGs in Nigeria. To attain the set goals, she said it is important to start implementing the Addis Ababa agenda which is hinged on financing the SDGs.
She also underscored the need for collaboration between the national and sub-nationals, which for her is key to funding and realization of the SDG goals.
She stated: “To finance SDGs, we need $10bn annually but what we have including at the sub nationals is not up to half. So, there is a need to source funds from public and private sector perspectives.“What we need to do is to expand the tax net to bring in those outside the network.
Also, we need to reach out to donor and private sector support, the buy-in of the sub-nationals is critical, especially the States and Local Governments.
“The engagement with the sub-nationals is key, they must realize that we must join hands to deliver on our social contract.
“Unless we come together, we can’t escalate in the integrated public finance.
“We encourage the private sector to complement the public sector. They must invest through CSR and mobilize their resources.
“Invest in infrastructure where you can get tax holidays. They have to come and show commitment and partnership.”
She urged captains of industries to mobilize resources and align with the government to attain the SDGs, assuring that before the end of this year, they will start implementation.
