Nigeria's development ambition to end poverty by 2030 is navigated in the context of sluggish growth, low human capital, labour market weaknesses. According to the National Bureau of Statistics, 4 in 10 Nigerians live below the poverty line, approximately 80 million people. Many Nigerians – especially in the country’s north –  lack education and access to basic infrastructure, which further challenges this ambition. Productive work and expanded job opportunities for women and youth is a key element in an integrated strategy for poverty reduction - just 17 percent of Nigerian workers hold the wage jobs best able to lift people out of poverty. Furthermore, climate and conflict shocks – which disproportionately affect Nigeria’s poor – are multiplying, and their effects have been compounded by COVID-19.  

Nigeria's ambition to end poverty by 2030 builds on integrated policy choices that drive progress across multiple SDGs.  The government’s strategy to lift 100 million people out of poverty is anchored on eight areas: decent jobs and economic growth (target 8.5), macroeconomic stabilization (target 17.13), quality, reliable, sustainable and resilient infrastructure (target 9.1) industrialization (target 9.2), structural and institutional reforms (target 16.6), as well as redistributive programmes (target 1.3). The latter include programmes aimed at enhancing incomes, job opportunities and wealth creation through vocational skills training (target 4.4), micro-credit and micro-enterprise development (target 8.3) and livelihood diversification in the agricultural sector (target 2.3).​

SDG 8.5 has a positive multiplier effect on several SDGs and is a central pillar to Nigeria’s strategy for pulling more than 100 million people out of poverty. It is positively associated with priority investments in youth empowerment (Target 4.4) and skills development/ and upskilling (Target 8.2), and an important investment that helps address SDGs that require acceleration, particularly in the reduction of poverty and vulnerability (Targets 1.2, 1.4) , food security (target 2.1) and across several health targets (Goal 3 reduction of hunger and malnutrition) and SDG 3 (reduce maternal mortality, end the AIDS pandemic, tuberculosis, among other diseases.​

To create jobs and reduce poverty, it is essential that the Nigeria increases its growth potential substantially by diversifying the economy. By focusing on SDG target 8.5, diversifying the economy, deepening trade and value chain integration, Nigeria can expand opportunities for all groups in society, with a focus on populations that are most at risk of exclusion, including women and youth.  ​​

Progress on target 8.5 relies on expanding frequency and access to energy in Nigeria. This should be supported with policies that reduce carbon emissions leveraging renewable energy (Target 7.2), coupled with energy efficiency (Target 7.3).  ​

Nigeria needs more industries, especially manufacturing to promote economic growth and sustainable development to an optimal level. Pursuing SDG target 9.2 can foster inclusive and sustainable industrialization while simultaneously enhancing its sustainable economic growth and employment prospects. Industrialization can also provide critical injection of capital in the agricultural sector.​​

To achieve the level of industrialization required, investment in basic amenities will be required including safe and affordable water and electricity. However, the pursuit of industrialization also entails trade-offs. It requires careful consideration of environmental sustainability as industrial activities can have adverse ecological impacts—affecting ecosystems (SDGs 15 and 2), potable water (SDG 6), life below water (SDG 14) and life on land (SDG 15).  Rapid industrialization could put pressure on energy access (Target 7.2) at the expense of energy sustainability (Targets 7.2 and 7.3). Ensuring inclusivity in this process is crucial to preventing potential social, gender and territorial inequalities (Target 10. 5)   ​

By investing in SDG 9.2 (inclusive and sustainable industrialization), Nigeria can improve on its current employment challenges and focus on key priorities, namely poverty eradication, reducing inequality and improving the business environment and local entrepreneurship. This, complemented with policy interventions that promote modern agriculture, production value chain, leveraging innovation, science and technology and industrial niches for diversification to generate jobs for women and youth. ​

The Government of Nigeria recognizes that investments in physical infrastructure and production cannot be sustained without a commensurate reform in governance. In this regard, reforms of public finance management and the budgetary process have been broadly​ progressive.​

Investments and policy choices that strengthen institutions is recognized in Nigeria as a fundamental driver for the eradication of extreme poverty (target 1.1) over the medium term with significantly higher and more inclusive growth (target 8.1) with positive benefits to national  efforts to build resilience to shocks and disasters (target 1.5)​.

By focusing on SDG 16 (Peace, justice and strong institutions), and specifically Target 16.6, Nigeria can increase its ability to achieve sustained, inclusive and high economic growth needed to reduce extreme poverty. Extreme poverty reduction can be enhanced by improving governance, strengthening institutions, the rule of law, public accountability and the fight against corruption. ​