For Nigeria to adequately close its infrastructure gap, it requires as much as $100 billion for six years, says a report from the country’s Bureau of Public Entreprises (BPE).
This was revealed by the Director-General of the BPE, Alex Okoh, when he received a delegation from the World Bank led by Senior Economist (Economics and Private Sector Development), Mr Volker Treichel, according to a statement made available to local news platforms on Wednesday by Head of Public Communications at BPE, Amina Othman.
According to him, the next phase of the Reform and Privatisation Programme of the Federal Government would focus on Public-Private Partnerships with the view closing infrastructural gaps in the country.
He said that the new phase targeted reforms mostly in the utility and infrastructure sectors including water resources, railways, airports, and highways.
The BPE noted that the country’s infrastructure gap was huge as it was estimated that Nigeria needed to invest more than $3 trillion in the next 30 years to bridge the gap.
For the next six years, he added, Nigeria needs to invest an average of $100bn per annum, Punch newspaper reported.
He stated that the need for refocusing on PPP was borne out of increasing budgetary constraints to fund the development of new infrastructure and effectively maintain existing ones, deteriorating infrastructure (dilapidated roads, schools, hospitals, etc.), higher public expectations in terms of efficiency and effectiveness of infrastructure service delivery.