The Federal Government has stated that the implementation of Sustainable Development Goals (SDGs) in Nigeria will require $10 billion annually as funding.
The Senior Special Adviser to the President on SDGs, Mrs Adegoke Orelope-Adefulire, made this disclosure at the ongoing National Economic Summit in Abuja on Tuesday.
While speaking on the topic, “Half Point to 2030: Rethinking the Strategy Towards Achieving the SDGs”, she noted that the government needs to first implement the Addis Ababa Agenda which is hinged on financing the SDGs.
According to the special adviser, both the federal government and the sub-national government do not have enough funds to finance the goals of SDGs annually, noting that the government needs to seek additional funds from other sources.
“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 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 realise 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 mobilse their resources.
“Invest in infrastructure where you can get tax holidays. They have to come and show commitment and partnership,” she said.
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On his part, the representative of the United Nations (UN), Mr Nonso Obikili stressed the need to leverage technology to improve services.
He expounded on the fact that sub-national entities have initiated partnerships with the Federal Government to streamline their data, making use of digital tools in the endeavour.
According to him, adopting this method could result in a more transparent and effortlessly executed implementation of the SDGs.
“Digital tools have become the norm. We have moved from zero to 90 per cent.
“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 must 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 will make progress, working with the private sector and donor agencies,” he said.
