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.”
-
News5 days ago
Yahaya Bello: American International School Of Abuja Has Transferred $760,910.84 To EFCC Out Of $845,852
-
Politics6 days ago
ONDO 2024/ Akeredolu’s ex-deputy Agboola wins PDP governorship election primary.
-
Politics5 days ago
Kogi: I didn’t pay $720,000 as school fees – Yahaya Bello
-
Business5 days ago
Customs Area 1 Ph Hits N43 Billion Revenue Generation in first Quarter of 2024
-
Politics5 days ago
Ondo Guber: PDP ‘ll win November election — Jegede
-
News5 days ago
Why people do strange, incredible things for love – Psychologist
-
Sports6 days ago
Victor Boniface: Leverkusen boss Alonso makes you ‘up your game’
-
Entertainment5 days ago
Davido on earning $1.3 million after NY performance