The Minister of Finance, Budget and National Planning, Zainab Shamsuna Ahmed, says it is difficult for Nigeria to achieve the $3trn infrastructure investment needed for the next 30 years.
She said in order to bridge Nigeria’s growing infrastructure gap, the federal government intended to cede 48 percent of the infrastructure needs to the private sector to build and own.
She stated this in Abuja at a workshop on Maximizing Finance for Development of Infrastructure in Nigeria, organised by the World Bank Group.
She said the 48 percent of the infrastructure would be largely in the transportation and energy sector which accounted for over 50 percent of the investments, the minister said.
She said: “It is estimated that $3 trillion infrastructure investment would be needed for the next 30 years” for Nigeria, a situation she said it’s impossible to achieve through budgetary provision. “Nigeria core infrastructure stock is currently estimated at 30 percent of the GDP which falls far short of the international benchmark of 70 percent.”
Source: Dailytrust.ng
