Nigerian govt spent N8.9tr on infrastructure last year – Osinbajo

Vice President Yemi Osinbajo said on Friday the present administration spent the sum of N8.9 trillion on infrastructural development in 2020.

Osinbajo, who disclosed this at the inauguration of the 21-storey Dakkada Tower in Ibesikpo Asutan local government area of Akwa Ibom, said the Federal Executive Council (FEC) approved the Lagos – Calabar rail project last month.

He said: “We have invested more than any administration on infrastructural development.

“As at last year, we expended over N8.9 trillion on infrastructure development despite the severe economic meltdown in the country.

“These infrastructural developments are set to establish Akwa Ibom State as a major industrial hub for not just Nigeria, but the West African sub-region.

“At the end of last year, the Federal Executive Council also approved the full business case of the Ibom Deep Seaport, and of course, as a result of the active demands.”

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The Vice President noted that the Dakkada Tower was among the tallest buildings in West Africa, saying that the oil and gas companies would find it suitable as administrative headquarters.

Osinbajo added: “This tower is state of the art, with the latest technology developed for an efficient and smart world.

“I heard that some International Oil Companies (IOCs) have expressed intentions. I am glad to know that the investment in the Dakkada Tower was already yielding fruits.

“My opinion on the 21-storey Dakkada Tower is that, it complements the government’s effort at creating an enabling environment for investments to thrive in the state.

“It is a catalyst for the private sector, I commend the governor for his industrialization agenda.”

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