Nigeria needs 80billion naira annually to fix infrastructure – Experts


Experts in Nigeria’s financial services say the country needs an estimated $80billion in financial commitment annually over 10years to fix its infrastructure deficit.

Speaking at the national workshop of the Association of Business Editors in Nigeria (ABEN), the speakers led by former managing director of Bank of Industry BOI Waheed Olagunju and the Lagos State government among others, charged government at all levels to partner with the private sector to fix the ailing infrastructure by aiding business growth and economic development.

Speaking on the topic, Olagunju, explained that there cannot be meaningful development without investment in infrastructure, which is the catalyst of development in all sectors of the economy.

In his keynote address, the Lagos State’s Commissioner for Economic Planning and Budget, Sam Egube, reiterated the need to raise capital from all credible sources to fix infrastructure, and to also ensure that the fiscal financing structure meets international standards, such that, the private sector can finance projects without any fear of losing their money.

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