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SMW 2020: Private sector, funding vital to attaining SDGs in Nigeria

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SMW 2020: Private sector, funding vital to attaining SDGs in Nigeria

A panel at the ongoing Social Media Week (SMW) on Thursday said that the private sector, impact investment and funding were keys to attaining the United Nations (UN) Sustainable Development Goals (SDGs) in Nigeria.


The panel made this known while discussing about Impact Investing and Funding of SDGs in Nigeria.

The Nigeria News Agency reports that SMW is one of the world’s foremost conferences and industry news platforms for marketers.

It provides brands, agencies and technology providers with the latest insights, trends and best practices together with access to a global community of marketing decision makers.

NAN reports that globally, countries are expected to try as much as possible to attain the SDGs by 2030.

The SDGs are 17 in number, including, no poverty, zero hunger, good health and well-being, quality education, gender equality, clean water and sanitation, affordable and clean energy, among others.

Maryam Uwais, Special Adviser to President Muhammadu Buhari on Social Investment, said private business activity, investment and innovation were major drivers of productivity, inclusive economic growth and job creation.

According to Uwais, getting private sector participation in government’s social programmes had remained a challenge.

“The private sector engagement would be central to having any meaningful impact in achieving the SDGs.

“The private sector wants to see immediate return on investments but social enterprise takes time. We need to develop the economic value chain of these enterprises before bringing in the private sector,” Uwais said.

Abasi Ene-Obong, the Chief Executive Officer of 54Gene. said the intent to make profit as well as positive impact could be a better selling point for private sector investors.

He noted that companies should not depend on impact investors, saying that they should focus more on being impact companies that would attract the interest of investors.

Prof. Olayinka David-West, Academic Director, Lagos Business School, noted that broadening the scope of impact investment and de-emphasising the concept as mere charity, would go a long way in meeting the targets.

David-West said emphasis should be about what impact the investment was going to create.

“To achieve the SDGs, we need interventions and that cost a lot of money. These interventions also have to be sustainable even after the funding stops.” she said.

The Chief Investment Officer, Heirs Holding, Sam Nwanze, said Impact investments could be made in both emerging and developed markets.

He noted that companies should have a portfolio for investment and another for impact investing too.

Edited By: Adeleye Ajayi

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Funmilola Gboteku: is a graduate and a professionally trained journalist, with experience in national news reporting/editing and verification at the News Agency of Nigeria. NNN is a Nigerian online news portal that publishes breaking news in Nigeria, and across the world. Our journalists are honest, fair, accurate, thorough and courageous in gathering, reporting and interpreting news in the best interest of the public, because truth is the cornerstone of journalism and they strive diligently to ascertain the truth in every news report. Contact: editor[at]nnn.com.ng

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