In 2015, world leaders and experts from various fields came up with a new set of goals called sustainable development having failed to attain some of the goals previously set. The current 17 goals christened SDGs has 169 targets which are expected to be achieved by 2030. During the declaration, people, planet, peace, prosperity, and partnership were identified as areas of critical importance for humanity towards the realization of the goals. These areas clearly indicate what the stakeholders want from every citizen in all the continents. Here are five areas Nigeria’s aspiring and existing entrepreneurs could exploit:
Antibiotics produced food, especially livestock have been found to be dangerous to human consumption. High concentrate of antibiotics in man’s body has been discovered to contribute to drug-resistant cases in developed countries such as the US. Scientifically, too much of antibiotics in the production of livestock causes superbugs and antibiotic resistant bacteria which threaten humans. In other words, world is facing the phenomenon in which antibiotics no longer works. As a result of this, world leaders expect businesses to create novel antibiotics to market. According to Washington’s based Center for Disease Dynamics, Economics and Policy, awareness about the negative effects of antibiotics-produced livestock among the American is increasing antibiotic-free food market. McDonald’s Corporation has promised to switch to chicken raised without human antibiotics in the next few years. Demand for antibiotics free food is low in Nigeria like other developing countries of the world. Nevertheless, there are a lot of opportunities for the entrepreneurs. For instance, it has been estimated that global consumption of antimicrobial will increase by 67%, from its present 63,151 ± 1,560 tons to 105,596 ± 3,605 in 2030. Nigeria, Myanmar, Indonesia, Peru, and Vietnam are projected to have highest percentage increase. Among other innovations, world leaders want businesses to produce chicken, beef, and pork raised without antibiotics, and manufacturing and selling alternatives to antibiotics. These would help in attaining industry, innovation and infrastructure goal of the SDGs
Flexible mobility and low transport cities
World’s population has been projected to increase from its present 7.2 billion to 9.6 billion by 2050 while Nigeria is expected to have 398 million people. The bulk of these people would live in cities such as Lagos, Abuja, Kano and Port-Harcourt, where affluence and middle-class population categories increase daily. Everyone wants to own one or two transport means for his mobility. World leaders want businesses that would create innovative and sustainable transport system for their growing population towards flexible movement and diminutive transport cities. According to the United Nations Environmental Development Programme, out of eight citizens in urban areas, seven breathe air that fails to meet WHO safe levels. This has been blamed on too much of transport means that emit greenhouse gases that contribute to climate change. Thus, there is a need for flexible transport system which would provide flexibility in choosing routes, travel times, forms of transport and service provider. This will be mostly appreciated and applicable in a city like Lagos where residents are experiencing traffic congestion on daily basis. When businesses are developed around these, residents would no longer make their transport choices based on their previous investments in a car and other transport sources. Existing entrepreneurs doing some of these and aspire ones would definitely help Nigeria in realizing sustainable cities and communities, responsible consumption and production goals of the SDGs. Experts suggest that sharing and rental transport business would be the right model. This should encompass car-sharing, car rentals and bike sharing with specific emphasis on geography, climate, population density and financial capacity of the user.
The skills gap and the digital labour market
Nigeria like other countries is having skills gap and ability to develop robust digital labour market, where every worker would be able to use different technologies for multitasking. The gap exists both in informal and formal settings of the country’s labour sector. For instance, most artisans lack relevant vocational skills while lots of graduates lack analytical skills. These have severe impacts on businesses and organisations. Recent estimates indicate that Nigeria needs 8 million skilled workers in the next two years for her infrastructure development desires. By 2018, aviation sub-sector of the transport, Information and Communication Technologies (ICTs) and mining sectors need 1 million and 300, 000 workers respectively. To generate, transmit and distribute 40,000 megawatts of electricity, Nigeria needs 17,000 technicians and engineers, according to a recent study. To bridge the gap and create the needed digital labour market capability, attain quality education, achieve decent work and economic growth and reduce inequalities as proposed by the leaders, global opportunity leaders suggest skills importation from other countries and partnership with international contractors to transfer skills, and certification standards through quality skills development for agriculture, banking, education, health, manufacturing among other sectors in the Nigerian labour market.
To be continued next week
If you need further information on the highlighted business opportunities, especially strategic business plan and growth strategies, Enterprations Limited’s experts are available for you.