Nigeria will be among world economies that will benefit from 380 million new jobs and $12 additional trillion global GDP by 2030 if the private sector do more in exploring the immense opportunities in the Sustainable Development Goals (SDGs).
The call was made by Amy Jadesimi, MD, LADOL, Niegria’s leading offshore logistics company while speaking on a panel on The Role of the Private Sector in the SDGs at the just concluded Abraaj Week which held in Dubai.
She spoke on a panel that also had the likes of Lord Malloch-Brown, Chair, Business and Sustainable Development Commission (BSDC), Vineet Rai, Founder, Aavishkaar-Intellecap Group and moderated by Henny Sender, Chief Correspondent for International Finance, Financial Times.
According to her, “It is really important that the private sector grasp the SDGs as a fantastic business opportunity, if the private sector explores all these opportunities, we will achieve $12tr of an additional of GDP growth for the world by 2030. We can create 380 million jobs. This is a phenomenal turnaround in the global economy and it will be led by the developing or low-income high-growth countries which is something I am passionate about.
“The company I work for is building a platform that will sustainably industrialize the whole of West Africa. We are talking about bringing 100 million out of poverty into middle class. Imagine what a phenomenal impact that is going to have on global GDP.
“The private sector in high income low growth income countries is getting it quite yet. The BSDC’s report which came out in January this year was launched in Davos is going to help. But in low income high growth countries like Nigeria, we are certainly getting it, the private sector is certainly getting it. There is a very vibrant private sector in a lot of countries like Nigeria, India, China but even smaller countries like Mozambique and Liberia. Those private sector companies are grasping these opportunities to sustainably industrialize their countries.
“When you look at sustainable development in impact investing, the most important thing is to understand is that it is profit driven. The sustainability comes from the fact that there is a clear profit motive. You can do good and you can make a lot of money, you can create local prosperity and shareholder prosperity. Abraaj Week has given us the opportunity to do just that.