Nigeria Presents $114bn SDGs Private Sector Investment Opportunity
A study by Standard Charted Bank has revealed that the about $114.2 billion private-sector investment opportunity in contributing to the United Nation’s Sustainable Development Goals (SDGs) in Nigeria out of the $10 trillion opportunity in emerging markets globally.
The study titled: Opportunity2030: The Standard Chartered SDG Investment Map, identifies opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030: SDG 6: Clean Water and Sanitation, SDG 7: Affordable and Clean Energy and SDG 9: Industry, Innovation and Infrastructure across emerging markets.
In Nigeria, the greatest SDG investment opportunity is found in improving digital access, a key indicator of SDG 9, which encourages improvement in industry, innovation and infrastructure.
Opportunity2030 finds that securing full digital adoption in Nigeria, a combination of mobile phone subscription rates and internet connectivity, will require private-sector investment of around $47.4 billion.
Achieving universal access to power (a key SDG 7 indicator) represents a $32.3 billion private sector opportunity. The opportunity in the water and sanitation sector is smaller, but still impactful at $5.7 billion.
Commenting, the Chief Executive Officer, Standard Chartered, Nigeria, Lamin Manjang, said:“As Africa’s largest economy, and with a rapidly growing population, Nigeria represents an excellent opportunity for investors looking to fund infrastructure projects that will secure long-term returns whilst improving the lives of its citizens. The SDGs are also a key focus for the Nigerian government. “Opportunity2030 provides an important map of the SDG opportunities for private sector investors looking to invest with impact and improve the lives of millions of Nigerians over the next decade.”
Opportunity 2030: The Standard Chartered SDG Investment Map is a macroeconomic study that draws on global data sources and indicative private-sector participation rates to provide companies, institutional investors and other stakeholders with an overview of where their investments could have the greatest impact.