SDGs: Understanding the Place of Corporate Organisations

Ugo Aliogo examines the efforts of private companies to key into the Sustainable Development Goals to boost education  

The Sustainable Development Goals (SDGs), also known as the Global Goals, were adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that by 2030 all people enjoy peace and prosperity.

The 17 SDGs are integrated and they recognise that action in one area will affect outcomes in others, and that development must balance social, economic and environmental sustainability.

Countries have committed to prioritize progress for those who are the furthest behind. The SDGs are designed to end poverty, hunger, AIDS, and discrimination against women and girls.

The creativity, knowhow, technology and financial resources from all of society is necessary to achieve the SDGs in every context.

Since the adoption of the Sustainable Development Goals (SDGs) in September 2015, Nigeria has continued to demonstrate its commitment to achieving the global goals through leadership and ownership of the implementation process.

The UN in Nigeria is strengthening its support through provision of technical support to the Office of the Senior Special Advisor to the President on SDGs (OSSAP-SDGs) and line Ministries in an effort to ensure that planning and budgeting for development activities in the country are within the framework of the SDGs. The UN is working closely with the Government of Nigeria and other partners in ensuring that the SDGs are efficiently and effectively implemented and that resources are allocated to sectors of the economy that will yield highest dividend for the poor and the vulnerable Nigerians.

Quality education is goal number four of the SDGs. Under the goal four, it was discovered that since 2000, there has been enormous progress in achieving the target of universal primary education. The total enrolment rate in developing regions reached 91 per cent in 2015, and the worldwide number of children out of school has dropped by almost half. There has also been a dramatic increase in literacy rates, and many more girls are in school than ever before.

Progress has also been tough in some developing regions due to high levels of poverty, armed conflicts and other emergencies. In Western Asia and North Africa, on-going armed conflicts have seen an increase in the number of out-of-School children. This is a worrying trend. While sub-Saharan has Africa made the greatest progress in primary school enrolment among developing regions from 52 per cent in 1990, up to 78 per cent in 2012, large disparities still remain. Children from poorest households are up to four times more likely to be out of school than those of the richest households. Disparities between rural and urban areas also remain high. However, the task of education ensuring that the disparities in education are addressed doesn’t rest with government alone. The private sector has a role to play in the equation, especially from the angle of Corporate Social Responsibility (CSR) to support the growth of education. Private organisations such as banks have taken education related CSR very serious and one of their core activities. One of such private companies is First Bank.

One of the mantras of banks as financial institutions is that it is woven into the fabrics of the society. This implies that every of its initiatives are geared towards societal good, impacting lives and contributing its quota to national development and growth. The bank has built an enviable track record in CSR activities, the National Company of the Year (NCOY) is one of the several projects that the bank has been supporting for years and continues to show renewed commitment and focus.

The bank’s sponsorship of the National Company of the Year competition aligns with its FutureFirst initiative, which is aimed at promoting financial literacy, entrepreneurship and innovative development and career counselling of school children at an early age.

First Bank commitment to CSR

The winners at the 2022 Nigeria National Competition were International School, University of Lagos; Queen’s School, Ibadan; Top Faith International Secondary School, Akwa-Ibom; and Special Education School, Tudun Maliki.

Speaking at the event, the Group Head, Marketing and Corporate Communications, FirstBank of Nigeria Limited, Folake Ani-Mumuney, emphasised that the initiative aims at empowering secondary school students to build fulfilling careers and be financially conscious from a young age.

This she pointed out would help young people gain the tools and knowledge to make effective, informed financial management decisions and achieve long term financial independence.

She said through the initiative and FirstBank’s partnership with JAN, over one million young Nigerians have been impacted as they have continued to strategically drive sustainability practises through the innovation and participation of students in the JA Company programme.

Ani-Mumuney further explained that the bank remains committed to engendering an entrepreneurial mindset in children and young adults thereby fostering their creativity, wealth creation and management skills and ultimately, nurturing the kindness culture and corporate responsibility and sustainability involvements. 

She remarked that the overarching goal of the Junior Achievement’s NCOY programme is to empower young people to own their economic success by enhancing the relevance of education which is in tandem with FirstBank’s FutureFirst Initiative, “and which is the bank’s financial literacy, entrepreneurship and career counselling programme, established to promote financial inclusion amongst the youth.”

According to her, “As the flagship event and culminating point for the JA Company Program and accompanying regional competitions across Nigeria, NCOY brings together outstanding student business teams across Nigeria to compete for the opportunity to represent Nigeria at the JA Africa Company of the Year competition. This annual celebration of success has allowed young people to demonstrate their business acumen and spirit of entrepreneurship in a competitive environment.

“FirstBank has been involved with Junior Achievement Nigeria (JAN) for over twenty-two years as one of the many ‘fronts’ in the bank’s engagements with the next generation of Nigerians to collaboratively create the bright, innovative future that Nigerians dream of.

“FirstBank’s partnership with JAN on the National Company of the Year competition has meant over a decade of impact and innovation illustrated by the very nature of innovative products and services created by young minds to solve real problems facing society and the business systems they put in place in form of student companies to successfully produce and market the products and services sustainably and to impact their local communities.

“We remain committed to engendering an entrepreneurial mindset in children and young adults thereby fostering their creativity, wealth creation and management skills and ultimately, nurturing the kindness culture and corporate responsibility and sustainability involvements.”

Addressing the theme for this year’s event which is: ‘Fuelling Change Makers’, she said it would to intensify the already burning passion of these young minds by encouraging them every step of the way as they have differentiated themselves as change makers.

She further said: “We are here to witness a display of ingenuity birthed through the pure commitment and dedication to rigorous trainings and several hours of work by these young ones. They deserve a loud ovation for these achievements. I congratulate all the 12 student companies participating in this year’s competition.

“I must however specially recognise and mention the students of Special Education School (for the Blind and Deaf) from Tundun, Maliki dubbed as The Straw Recyclers company. These students have demonstrated in its entirety that human limitation is just an illusion, it only becomes a reality if you allow it. Well-done guys.

“Every participant has done excellently well to have come this far, and I have no doubt that regardless of which student company emerges winner today, you all qualify to represent Nigeria at the Junior Achievement Africa Company of the Year competition to be hosted by Nigeria in December 2022.

“Beyond the amazing achievements of projects and inventions by the participants, I am delighted to announce that in partnership with JAN we have now integrated SPARK (Start Performing Acts of Random Kindness) initiative into the Company Programme. This is FirstBank’s way of strategically institutionalising the kindness culture into the Nigerian educational system.”

The SPARK Initiative

According to Ani-Mumuney, “The SPARK initiative is designed to raise consciousness that we can choose to be kind. It further seeks to promote small acts of kindness aimed at reigniting values that appear to be eroding in our society. As I prepare to round up, we must admit that our roles in Fuelling (these) Change Makersare crystal clear, and I will highlight a few of them: funding, mentoring, Sponsorship/Partnership/Collaboration,and others.

“We at FirstBank unequivocally reiterate our commitment to this strategic partnership and sponsorship aimed at nation building and showcasing the creative ability of students.

“We commit to also continue to uphold our brand promise of keeping You First by providing the gold standards of services through all the bespoke financial solutions for our children and youth ranging from the KidsFirst account to the Xplore First account which have been designed to make savings fun for our children and wards.  As we teach them enterprise and wealth creation, we encourage parents and guardians to secure their future by opening a FirstBank savings account in any of the relevant age categories.”

The Role of JAN

In her remarks, the Executive Director, Junior Achievement Nigeria, Foluso Gbadamosi, stated: “Our mission towards inspiring and transforming young people with the skill sets and mindsets needed to help them thrive in a global economy has been both challenging and exhilarating. We are extremely grateful to everyone who has made today possible. We are proud of these young leaders and their growing capacity for innovation which we believe will take Nigeria to the next level.”

Meanwhile, the overall winner of the competition was the Green Apex student company from the International School, University of Lagos, they produced a biodegradable sanitary pad for women. 

While the first runner up was the Nexus Queen’s Creation student company from Queen’s School, Ibadan, that developed a decorative led lamp structured with 80 percent carton.

The second runner up is KRi8 student company from Top Faith International Secondary School, Akwa-Ibom, for developing a vacuum cleaner.

The CEO of the Year, went to the straw recyclers student company from Special Education School, Tudun Maliki (School for the blind and deaf).

They used abandoned straws and takeaway plastic spoons from the garbage and recycled them into home accessories such as bags, doormats, home decorations, tissue paper containers, coin purses, and more and Most Innovative went also to Champion Squad student company of Taidob College, Asero, Ogun State for producing  wearable totes from a revamping process of used clothes with creative and fashionable local fabrics called ‘adire.’