Nigeria Sustainability Outlook- 2023

Welcome to PwC Nigeria’s 2023 Sustainability Outlook.

It’s a great delight to welcome you to PwC Nigeria 2023 Sustainability Outlook. This year has opened up with fresh breath and vigour, especially with global, regional and national commitments to climate ambitions and sustainability. The global appeal and momentum have been building, and now more than ever, nations including Nigeria are ready to act.

The last COP27 held in Sharm el-Sheikh Egypt opened up a lot of interesting conversations which have invigorated and created fresh perspectives and optimism in our decarbonisation journey. This comes in light of Nigeria’s efforts in the previous year, especially with the launch of the Energy Transition Plan and innovative financing options such as the Debt for Climate initiative.

Nigeria has taken a proactive approach and leadership position, particularly with the early adoption of the International Sustainability Standards Board’s (ISSB) IFRS sustainability disclosure standards. These renewed commitments and vigour come as the nation continues to explore potential financing options to fund its energy transition. Achieving Nigeria’s climate goals will require strategic partnerships and collaboration between the public and private sectors to shore up the needed resources - both human and capital. 

Sustainability practices and policies are expected to intensify amidst growing pressures from regulators, investors and other stakeholders. How countries and organisations respond will ultimately play a fundamental role in their long-term economic outlook.