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SDG 1 : No Poverty

KEY ISSUES

Ending poverty in all forms are Nigeria’s first Sustainable Development Goal. Poverty eradication in all of its forms remains one of humanity’s greatest challenges. Despite the fact that the number of people living in extreme poverty fell by more than half between 1990 and 2015, far too many individuals continue to struggle to meet even the most basic human requirements. Local businesses are near to the issues because Nigerians are in a situation that forces them to survive today. They cannot effectively prioritize sustainable development goals. Businesses could empower citizens to be agents of change and make significant SDG progress in Nigeria.

PROGRESS

Stable Societies and Markets are the result of this progress. Reaching the SDGs by 2030, according to the Business & Sustainable Development Commission, may unlock $12 trillion in economic potential and create 380 million new employments. Nigeria was ranked 159th out of 162 nations in the 2019 SDG index in terms of achieving the Sustainable Development Goals (SDGs). Nigeria’s performance score of 46.4 is slightly higher than that of the Central African Republic, which is at the bottom of the ranking.

CHALLENGES

Despite the focus on poverty reduction based on SDG 1, the poverty rate has remained high. The country’s high poverty rate of 40.1 percent, or 82.9 million people, is due to inadequate economic management and performance (The National Bureau of Statistics (NBS), 2019, World Bank, 2017). As a result, Nigeria has become the world’s poorest country (World Bank, 2019). This suggests that no significant progress on SDG 1 appears to have been made.

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