I come from one of the developing Nation in Africa called Nigeria in which the measures put together by the MDBs, DRM, ODA and Private Investors are awesome BUT might not be able to conveniently help us achieve the SDGs Goals over here.
I choose to propose these measures as stated in the digital artifact, though sound little but hold huge untapped potential in financing the development goals in Nigeria and in achieving the ambitious but realistic SDGS Goals in Nigeria where I live and work as a policy maker.
I will be glad to get your comment .Thank You.
2. I hail from one of the developing Nations in Africa called Nigeria
in which the measures put together by the MDBs, DRM, ODA and
Private Investors are awesome BUT might not be able to
conveniently help us achieve the SDGs Goals over here.
I choose to propose these measures as stated in the digital
artifact, though sound little but hold huge untapped potential in
financing the development goals in Nigeria and in achieving the
ambitious but realistic SDGS Goals in Nigeria where I live and
work as a policy maker.
This is meant for all policy makers
3. THE BASIC FINANCIAL
INSTRUMENT
ITS EFFECT IN NIGERIA
MDBS
DRM
ODA
PRIVATE INVESTORS
IFI commitment to
Infrastructure is about 5%
which is very low
Workers are not well paid so
they really cant pay their tax
We have enjoyed very little
grants and much of debt relief
Most private financing are not
into productive Investment. Its
more of repatriated
profit/illicit finance
5. As at 2013,Nigerians has at about 17million
citizens in Diaspora and between 2011 to 2014
Nigerians in Diaspora had remitted about
$63.17billion(#10.35 Trillion) into the country
according to world bank at an interest rate of
12% and over 20% within Africa nations (one
Africa country to another)
The Excess fee from the 12% is enough money to
pay for primary school education of 14Million
Children meeting the SDGs number 4.
6. SDGs Goals would be achieved conveniently if
solid partnerships are formed with developing
and developed countries, and other bilateral and
multilateral agencies in recovering STOLEN
FUNDS.
Nigeria’s public funds in private hands laundered
abroad directly or through surrogates and phony
companies in the past decades amount to about
$150 billion
This can take care of SDGs number 1,2,3 and 8.
7. About £120m was raised from the matching program in
UK to help developing countries
It’s acclaimed that about 2trillion naira was spent on the
last election by one of the political parties in Nigeria and
21.7billion naira was raised by the same party.
If the government with International Partners can
encourage both private and public sector by setting up a
matching program we might raise more funds and use it to
finance some of the cogent SDGs Goals in Nigeria since we
can raise such a figure independently for just ‘an election’
The Money should be able to cater conveniently for SDGs
number 11,12 and 13(in conjunction with Green Bond for
13)
8. Most private firms are not financing productive investment
in Nigeria such as Infrastructure despite the effort of World
Bank to create a leverage ground for them to survive.
Technological infrastructure is getting dominated in
Nigeria BUT they are not being productive as they should
A Policy should be set in place that only gives room to
private investors who offer solutions in their given field
that would solve major problem which would also provide
jobs for others , that way we are gradually achieving goal
number
There are so many IT Infrastructure services but only a few
of them can boast of robust hosting which makes them
almost as good as not been in existence and the same
goes for other sectors.
9. I SINCERELY HOPE I COULD UNLEASH ALL THE POINTS WITHIN ME
BUT DUE TO THE PURPOSE AT HAND I CHOOSE TO JUST TABLE
THESE FACT FOR POLICY MAKERS,BOTH AT THE LOCAL LEVEL
AND INTERNATIONAL LEVEL.
MY STUDY AT THE WORLD BANK GROUP HAS BEEN AWESOME
AND I HOPE TO KEEP ON LEARNING AND I MUST CONFESS THAT
THE WORLD BANK HAS REALLY BEEN DOING A LOT AND I SEE
POSSIBLITIES IN THESE GOALS WITH THE HELP OF THE MEMBER
COUNTRIES,ODA AND ALL OTHER INSTRUMENT AS STATED
10. My name is still Oderinu Ifeoluwa Joseph
ODERINU JOSEPH ON ALL SOCIAL
MEDIA PLATFORM