N15 trillion Infrastructure Fund Key To Economic Growth

The central bank of Nigeria has proposed a N15 trillion fund for infrastructure which would create more jobs and bring about economic growth in Nigeria.

An industry analyst Mr Runsewe  has emphasized how important the usage of resources from the private sector could be used to aid infrastructure investment in vital economic sectors.

He states that Moodys analytics explained that Nigeria would need an estimate of $30 trillion for infrastructure related problems over the next 30 years.

“The effects of unstable power supply, decrepit public infrastructure and inadequate social amenities are a reality most Nigerians are all too familiar with.

he said  “While the government has ramped up infrastructural projects such as railways and roads across Nigeria recently, studies show that Nigeria’s low GDP numbers are closely linked to inadequate infrastructure delivery.

“Our greatest challenge with economic growth in Nigeria is the glaring infrastructure deficit, which the government alone cannot fix.

Reports from NAN suggests that the fund which will be launched in October 2021, The  N15 trillion infrastructure fund will combat the infrastructure lag in Nigeria.

The source of the fund which is initiated by the African Finance Corporation and the Nigerian Sovereign Investment Authority, Aims to support infrastructure investment from the utilization of private sector capital.

Mr Runsewe, The Managing Director of Dutum Company Ltd explained that he completely agrees with the federal government initiating the project.

“Working in the construction industry over the years, I have seen up close the challenges faced by both national and sub-national governments to meet the infrastructural needs of citizens.

“What InfraCorp provides is not just the necessary funding to support the government in bridging the infrastructure deficit, it also opens up opportunities to create more jobs in the construction industry and improve the skill level of professionals.”

“Everyone can attest to the fact that the level of excellence required by the private sector is much higher than what obtains in the public sector.

“What this means is that we will reduce wastage to the minimum and optimize service delivery.