Politics
Nigeria Needs $1.5trn In 10 Years To Bridge Infrastructure Gap, Says Buhari
President Muhammadu Buhari has stated that Nigeria needs $1.5 trillion within a 10-year period to achieve an appreciable level of infrastructural development.
According to a statement by Garba Shehu, presidential spokesperson, Buhari stated this on Tuesday at the COP26 side event on improving global infrastructure.
COP26 is currently holding in Glasgow, Scotland.
President Buhari pointed out that his administration has taken infrastructure expansion in Nigeria seriously, while being conscious of the fact that new investments in critical sectors of the economy would aid lifting 100 million Nigerians out of poverty by 2030.
“There is a nexus between infrastructural development and the overall economic development of a nation,” Buhari said.
“My administration identified this early enough as a major enabler of sustainable economic development and the realisation of other continental and global development aspirations, particularly the 2030 Agenda for Sustainable Development Goals.
“On my assumption of office in 2015, Nigeria faced a huge infrastructure deficit and the total National Infrastructure Stock was estimated at 35% of our Gross Domestic Product.
“In solving these problems, we embarked on a massive infrastructure expansion programme in the areas of Health care, Education, Transportation, Manufacturing, Energy, Housing, Agriculture, and Water Resources.
“We provided more financial resources for these policies, charted new international partnerships and pursued liberalisation policies to allow private sector participation.
“We introduced the revised National Integrated Infrastructure Master Plan – a policy document that ensures our infrastructure expansion projects is cross-sectorally integrated and environmentally friendly.”
-
News3 days ago
Family, Friends Celebrate Jailed Former Deputy Senate President, Ike Ekweremadu’s Birthday
-
Niger Delta6 days ago
Niger Delta Stakeholders Accuse Olu of Warri and PINL Management of Dishonesty Over Terminated Pipeline Contract
-
Politics3 days ago
PROPHESY TO PRESIDENT BOLA AHMED TINUBU ABOUT 2027
-
Politics7 days ago
Ogbia Council Boss, Appoints Prince Isaac Amakuro as Political Secretary
-
Politics7 days ago
Rivers’ crisis: Timi Frank to TInubu, APC: Wike’s illegal impeachment plot against Fubara distabilze your administration
-
News7 days ago
Baraza executes court order, removes properties from Becky father’s residence
-
Business3 days ago
Baraza: Bribena pleads for understanding, highlights solutions to organization’s problems
-
Business6 days ago
Wema Bank Unveils CoopHub, Nigeria’s First Digital Platform for Cooperative Societies