Nigeria to build infrastructure worth $2.3 trillion in 23 years

ABUJA, Nigeria, September 2 (The Informant247) – The Nigerian government says it is planning to build infrastructure worth $2.3 trillion in 23 years.

The Director General, Infrastructure Concession and Regulatory Commission (ICRC), Mr Joe Aniku Ohiani, who disclosed this in Abuja on Thursday said $1.104 trillion of the fund will be financed through public private partnership (PPP) arrangements.

He said the proposal was based on the country’s revised infrastructure national plan.

“Last week Tuesday, the vice president inaugurated the National Council on Infrastructure. The National Council on Infrastructure will see to the implementation of the Revised National Integrated Master plan from 2020 to 2043,” he said.

He furthered, “As you are aware, the master plan envisages that we will be able to achieve infrastructure development worth $2.3 trillion. Out of this amount, 48 per cent is to be done through PPP.”

The Head of the Country’s Civil Service, Dr Folasade Yemi-Esan, affirmed that the public-private partnership was needed to grow the economy.