BrandArena: Nigeria presents a USD114 billion opportunity for the private sector

Wednesday, 22 January 2020

Nigeria presents a USD114 billion opportunity for the private sector

...To invest in sustainable development, says Standard Chartered

The Standard Chartered SDG Investment Map reveals an almost USD10 trillion (USD9.668 trillion) opportunity for private-sector investors across all emerging markets to help achieve the UN’s Sustainable Development Goals (SDGs), with Nigeria representing USD114.2 billion of that total.

The study 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.

Getting connected

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 aroundUSD47.4 billion.

Achieving universal access to power (a key SDG 7 indicator) represents a USD32.3 billion private sector opportunity. This takes into account the proportion of the Nigerian population currently lacking electricity access (46 per cent), projected population growth, and the growing demand for power as the economy develops.

The opportunity in the water and sanitation sector is smaller, but still impactful. Around 45 per cent of the Nigerian population still do not have access to clean water and sanitation (a key SDG 6 indicator) and closing this gap by 2030 will require significant investment, with an opportunity for the private sector to provide around USD5.7 billion of the funding.

Lamin Manjang, CEO at Standard Chartered, Nigeria 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.”

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. It spans 15 of the world’s fastest-growing economies and estimates the potential private-sector investment opportunity to contribute to three of the most investment-ready SDGs (6,7 and 9). Within these SDGs, it focuses on four indicators – water and sanitation services; power; telecoms (digital access); and transport infrastructure. For further details, please refer to the full report and methodology.

No comments:

Post a Comment