Nigeria Needs $3tn to Bridge Infrastructure Gap

Nigeria Needs $3tn to Bridge Infrastructure Gap
Nigeria Needs $3tn to Bridge Infrastructure Gap

Nigeria faces an infrastructure gap that requires significant investment, according to the Speaker of the House of Representatives, Tajudeen Abbas. Speaking at the flag-off ceremony for the construction of the access road from Ring Road 1 to the Judges’ Quarters in Abuja, Abbas emphasized the need for around $3 trillion in investments over the next 30 years to address this issue.

Abbas stated that critical sectors requiring attention include road networks, power supply, housing, healthcare, and education. The annual growth rate of 5% in Abuja’s population exacerbates the city’s infrastructure deficit, underscoring the need for more access roads, housing, and essential services.

Despite the challenges, Abbas praised President Bola Tinubu’s initiatives aimed at addressing the infrastructure deficit. Under President Tinubu’s leadership, there have been commendable efforts to address this issue, demonstrating the government’s commitment to making necessary investments in infrastructure.

The Speaker also acknowledged the importance of the National Assembly’s role in supporting development efforts. Abbas expressed the 10th National Assembly’s commitment to collaborating with the executive branch to provide legislative backing for infrastructure development in the Federal Capital Territory.

Abbas commended FCT Minister Nyesom Wike’s urban renewal plan, highlighting his dedication to enhancing the city’s infrastructure. The ongoing rehabilitation of major roads, the clearing of illegal structures, and the focus on environmental sustainability are testaments to Wike’s vision of a functional and efficient Abuja.

Abbas expressed confidence that, with the completion of the access road and other ongoing projects, residents and visitors will experience the positive impacts of these developments, contributing to Abuja’s growth into a world-class city.

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