Nigeria presents a USD114 billion opportunity for the private sector to invest in sustainable development, says Standard Chartered

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  • Opportunity2030 study reveals the almost USD10 trillion private-sector investment opportunity in contributing to the UN Sustainable Development Goals (SDGs) in emerging markets
  • Nigeria represents a USD114.2 billion private-sector SDG investment opportunity, with the largest opportunity coming from achieving universal digital access at USD47.4 billion
  • With 45 per cent of Nigerians lacking access to clean water and sanitation, there is a great opportunity for the private sector to make a difference, with a potential investment of USD5.7 billion 

[Lagos, 21/01/2020] Opportunity2030: 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.

Nigeria presents a USD114 billion opportunity for the private sector to invest in sustainable development, says Standard Chartered - Brand Spur

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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 a 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.

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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.” 

Opportunity2030: Investment opportunity in achieving the SDGs in Nigeria, by sector indicator: 

  SDG 6: Clean Water and Sanitation SDG 7: Affordable and Clean Energy  SDG 9: Industry, Innovation and Infrastructure

 

Sector Water and sanitation Power Transport Digital access
Current performance 55% access to clean water and sanitation 54% access to electricity Logistics Performance Index (LPI) infrastructure score of 2.56 51% digital access
Target by 2030 100% access to clean water and sanitation 100% access to electricity LPI infrastructure score of 2.95 100% access digital access
Total investment required to 2030 USD57.1bn USD71.8bn USD82.3bn USD78.9bn
Potential private-sector investment opportunity to 2030 USD5.7bn USD32.3bn USD28.8bn USD47.4bn

 

You can download the full Standard Chartered Opportunity2030 report here.