Nigeria’s Government is seeking for over $10 billion annually to finance the Sustainable Development Goals (SDGs)
This is because the budget of both the federal and sub-national governments put together can’t match half of the funds needed to implement SDGs in Nigeria.
The Senior Special Adviser to the President on SDGs, Mrs. Adegoke Orelope-Adefulire who submitted this at the sideline of the ongoing NES#29 on the topic: Half Point to 2030: Rethinking the Strategy Towards Achieving the SDGs, also noted that to attain the set goals, it is important to start implementing the Addis Ababa Agenda which is hinged on financing the SDGs.
“The biggest elephant in the room is how to raise the $10 billion funding required to finance the SDGs annually because the budget of both the federal and sub-national governments put together can’t match the half of the said fund needed to implement SDGs in Nigeria.
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 come to the realisation 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 Corporate Social Responsibility (CSR) and mobilise their resources.
“Invest in infrastructure where you can get tax holidays. They have to come and show commitment and partnership” she explained.
On how to raise the needed funding, the Special Adviser said the private sector must complement the government and that the government needs to expand the tax net in order to get more people into the net.
She also underscored the need for collaboration between the national and sub-nationals, which for her is key in funding and realisation of the SDG goals.
She urged captains of industries to mobilise resources and align with the government to attain the SDGs, assuring that before the end of this year, they will start implementation.
On his part, the representative of the United Nations (UN), Mr. Nonso Obikili stressed the need to leverage technology to improve on services.
He explained that the sub-nationals are already working with Federal Government to align their data, using digital tools.
According to him, that would make the implementation of SDGs more transparent and seamless.
“Digital tools have become the norm. We have moved from zero to 90 percent.
It has become clear now that data is key in this.
“The sub-nationals have become more aware and have fused into the national data system.
“The Federal Government and sub-nationals must align now and be part of the data process. We are ensuring everybody keys into the project.
“The infrastructure has to be revamped to reach all nooks and crannies; rural leaders have to be included.
Sub-nationals must take ownership and they work closely for us to understand what each has to do.
“Now we are having relative peace. I am certain we I’ll make progress, working with the private sector and donor agencies” he said.
On how to raise funds, the Managing Director, of Nigeria Flour Mills Limited, Omoboyede Olusanya said Federal Government must create an enabling environment and incentivise the private sector to commit their funds in support of the SDGs.
“To catalyse resources from the private sector, the government must support the private sector by fixing the infrastructure, and providing tax holidays for them to flourish.
“There is a need for the private sector to also mobile resources in sub-national levels, which they are already doing in their various host communities” he stated.
Another panelist, the Managing Director of Aliko Dangote Foundation, Zouera Youssoufou, said: “We need clear-cut strategies to ensure that SDGs are proactively implemented towards achieving the set target.
“Malnutrition is more in the north, different people have different peculiarities and problems, even different with the way they approach issues.
“If we are working on nutrition we should allow resources to be channeled to where they are needed most.
The problems of malnutrition are similar across the country. We have to address insurgency in the north and other forms of challenges to tackle the menace” the MD canvassed.
Besides these, she said “we need to address cultural barriers, inequality, cultural insensitivities across different cultures and religions. We must begin to solve the problem as a nation rather than differences we have on the margins” he said
For the panelists, SDGs must be looked at as a whole rather than as part of a whole.
They also called on the government to strengthen the data systems using digital technology to make the implementation seamless.
Recall that the Federal government had in 2022 launched the SDGs Integrated Public Finance with a target of raising $10 billion annually for the implementation of the goals.
Dominica Nwabufo
