Nigeria requires 350bn to meet sdgs by 2030
That's a significant amount!
According to various reports, Nigeria requires approximately N350 trillion (approximately $950 billion USD) to meet the Sustainable Development Goals (SDGs) by 2030. This estimate is based on a study by the National Planning Commission (NPC) and the United Nations Development Programme (UNDP) in 2019.
The SDGs are a set of 17 goals adopted by the United Nations in 2015, aimed at ending poverty, protecting the planet, and ensuring peace and prosperity for all. The goals are:
- No Poverty
- Zero Hunger
- Good Health and Well-being
- Quality Education
- Gender Equality
- Clean Water and Sanitation
- Affordable and Clean Energy
- Decent Work and Economic Growth
- Industry, Innovation and Infrastructure
- Reduced Inequalities
- Sustainable Cities and Communities
- Responsible Consumption and Production
- Climate Action
- Life Below Water
- Life On Land
- Peace, Justice and Strong Institutions
- Partnerships for the Goals
The N350 trillion required to meet the SDGs in Nigeria is a significant amount, considering the country's current economic challenges, including a large budget deficit, high inflation, and a significant reliance on oil exports. The estimate includes funding requirements for various sectors, including:
- Education: N120 trillion (approximately $330 billion USD)
- Healthcare: N60 trillion (approximately $165 billion USD)
- Infrastructure: N50 trillion (approximately $137 billion USD)
- Agriculture: N20 trillion (approximately $55 billion USD)
- Energy: N15 trillion (approximately $41 billion USD)
- Water and Sanitation: N10 trillion (approximately $27 billion USD)
- Transportation: N5 trillion (approximately $14 billion USD)
- Housing: N5 trillion (approximately $14 billion USD)
- Social Protection: N5 trillion (approximately $14 billion USD)
- Other sectors: N10 trillion (approximately $27 billion USD)
Meeting these funding requirements will require a combination of domestic resources, foreign aid, and innovative financing mechanisms. The Nigerian government, international organizations, and private sector stakeholders will need to work together to mobilize the necessary resources to achieve the SDGs by 2030.