$2.3 Trillion Required to Achieve Nigeria’s Infrastructure Master Plan
Jul 30, 2021 ·
1m 20s
The federal government says that it would require about $2.3 trillion cumulatively or $150 billion annually to upgrade the poor state of Nigeria’s infrastructure. Secretary to the Government of the...
show more
The federal government says that it would require about $2.3 trillion cumulatively or $150 billion annually to upgrade the poor state of Nigeria’s infrastructure.
Secretary to the Government of the Federation, Mr Boss Mustapha, noted that the private sector is expected to fund about 56 per cent of this sum.
He says even with dwindling resources, the federal government is committed to putting in its own 44 per cent to ensure that the nation’s infrastructure stock which he said the Muhammadu Buhari met at 35 per cent is upgraded.
Mustapha stated that this number was grossly inadequate for a country that was in dire need of inclusive growth and was far below the 70 per cent international benchmark already attained by some emerging markets.
He stated that in the light of limited resources worsened by the Covid-19 pandemic, the government needed to explore other financing options, which necessitated a greater focus on public-private partnerships.
show less
Secretary to the Government of the Federation, Mr Boss Mustapha, noted that the private sector is expected to fund about 56 per cent of this sum.
He says even with dwindling resources, the federal government is committed to putting in its own 44 per cent to ensure that the nation’s infrastructure stock which he said the Muhammadu Buhari met at 35 per cent is upgraded.
Mustapha stated that this number was grossly inadequate for a country that was in dire need of inclusive growth and was far below the 70 per cent international benchmark already attained by some emerging markets.
He stated that in the light of limited resources worsened by the Covid-19 pandemic, the government needed to explore other financing options, which necessitated a greater focus on public-private partnerships.
Information
Copyright 2024 - Spreaker Inc. an iHeartMedia Company
