Nigerian govt claims it invested N2.7tn on infrastructure in 3yrs

he Federal Government has revealed it invested about N2.7 trillion in the last three years on infrastructure in the country.

This was disclosed by the Senor Special Assistant to the President on Infrastructure, Ms Imeh Okon on Friday in Uyo, Akwa Ibom State during a High-Level Stakeholders Retreat on Public-Private Partnership.

According to Okon the Federal Government had to go back to the 25 years Master Plan on infrastructure development through Public Private Partnership.

“The Federal Government has invested N2.7 trillion in infrastructure in the last three years and as you can see, some of the dividends have been the N100 billion that we have injected into rail projects.

“What we have done as a government is to go back to the 25 years master plan on the rail sector. What you are seeing right now in terms of rail infrastructure is as a result of the master plan that was on the ground,” she said.

Read also: CBN to raise N1.8trn in treasury bills in Q1 2019

Okon, however said that over-dependence on oil revenue had been a great challenge to the government as a result of instability in the prices of oil in the last four years.

This challenge, she said has necessitated the partnership with the private sector to develop most of the nation’s priority infrastructure projects.”

The Acting Director General, Infrastructure Concession Regulatory Commission, Mr Chidi Izuwah, who spoke earlier, said the partnership would enhance economic prosperity, development and growth.

Speaking on the Ibom Deep Seaport, Izuwah assured that when completed, it would decongest the Lagos seaports.

“Ibom Deep Seaport is a PPP project that is going to bring $2.5bn of investment and change the landscape of infrastructure in the country.

“It will have solutions to traffic congestion in the Lagos ports because those goods that normally go to Lagos will come here. This has been done in partnership with the ICRC.

“I can assure you that before April, the contract for Ibom Deep Seaport will be signed and the approved consortium will start immediately.”

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