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Consultancy Assignment as Senior Special Adviser to HMF/CME on Fiscal Matters
Procurement Process
IC - Individual contractor
Office
UNDP-NGA - NIGERIA
Deadline
02-Aug-24 @ 06:59 PM (New York time)
Published on
26-Jul-24 @ 12:00 AM (New York time)
Reference Number
UNDP-NGA-00720
Contact
Ango Emmanuel - emmanuel.ango@undp.org
Introduction
Country: Nigeria
Description of the Assignment: Senior Special Adviser (SSA) to the Honorable Minister of Finance and Coordinating Minister of Economy (HMF/CME) on Fiscal Matters
Period of assignment/services (if applicable): 6 Months/ International Consultancy
Project: Strengthen Economic Planning and SDG Implementation
This position will be located in the Office of the Honourable Finance and Coordinating Minister of Economy (HMF/CME).
The overall objective of the Special Adviser (SA) is the coordination of the activities of other key team members in the provision of high-quality policy and development financing advisory, and support in the delivery of key mandates of the HMF/CME. The SA will lead the technical team supporting the establishment and implementation of sustainable government-owned/-driven development finance programmes of the Ministry. The Consultant may be requested to perform any other functions of a technical advisory role in line with advancing the Government’s post-COVID-19 recovery plans as well as in the ongoing efforts to leapfrog national development within the overall context of the achievement of the Sustainable Development Goals.
Nigeria’s integrated Sustainable Development Goals (iSDG) model estimates that the country has a financing need of about N125 trillion (over USD 300 billion) to achieve sustainable development by 2030. Besides a requirement of N83 trillion for public sector expenditure, this also includes a N42 trillion private sector investment opportunity. However, mobilizing the scale of public and private financial resources required to achieve the SDGs faces significant challenges ranging from managing complex financing instruments, to designing and implementing policies that incentivize private sector participation at both federal and state levels, as well as effective coordination of diverse stakeholders.
While the government has made significant strides in strengthening public financial systems, including through tax reforms, the current state of public finance could make it a challenge. A high debt level means a significant share of revenue is spent on debt service payments, while being too dependent on oil revenue at a time of fluctuating oil prices in international markets. State Internally Generated Revenues (IGR) are all low and wide disparities exist in states’ ability to generate revenues. Consequently, there is heavy reliance on federal funding in most states. Meanwhile, private sector is yet to fully exploit opportunities from investments relating to SDGs due to a combination of factors including rigid business environment, lack of institutional back-up and coordination issues, among others. Mobilizing the scale of public and private financial resources required to achieve SDGs faces significant challenges ranging from managing complex financing instruments to designing and implementing policies and effective coordination of diverse stakeholders for a common goal.
The purpose of the assignment of the Special Adviser (SA) to the Honourable Minister of Finance is to support HME/CMF build upon ongoing reforms to ensure a more functional development financing system to drive Nigeria’s sustainable development.
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