With the target year of 2015 to meet the eight targets under the Millennium Development Goals (MDGs) looming, Nigeria has said it needs to spend a total of 24 trillion naira in the next six years to be able to meet the goals (150 naira=US$1).
“An average annual requirement of 4 trillion Naira till 2015 is needed in order to reach the MDGs,” declared the Senior Special Assistant to the President on MDGs, Fatima Ibrahim.
Ibrahim, who spoke while presenting the second and third quarter reports to President Yar’Adua in the capital city of Abuja Thursday, noted that a total of 320 billion naira had been disbursed to fund the MDG programmes, from the savings from the debt relief granted Nigeria in 2005.
She said so far, 68 per cent of the amount had been expended and the balance returned to the treasury. The bulk of the MDGs funds were invested in primary healthcare, educational and HIV/AIDS intervention programmes.
However, Mrs. Ibrahim noted there is still a huge funding gap as ”resources are not available to effectively fund the programmes.
“Debt relief alone is insufficient to ensure the achievement of the MDGs, rather it serves as a tool to leverage additional resources for states, local governments, donors and the private sector,” she said.
The eight-goal MDGs to be achieved by 2015 were set in response to the world’s main development challenges, and are drawn from the actions and targets contained in the Millennium Declaration that was adopted by 189 nations-and signed by 147 heads of state and governments during the UN Millennium Summit in September 2000.
The eight MDGs are: Eradicate extreme poverty and hunger; Achieve universal primary education; Promote gender equality and empower women; Reduce child mortality; Improve maternal health; Combat HIV/AIDS, malaria and other diseases; Ensure environmental sustainability and Develop a Global Partnership for Development.