{"id":64473,"date":"2021-07-30T12:35:27","date_gmt":"2021-07-30T11:35:27","guid":{"rendered":"https:\/\/www.withinnigeria.com\/news\/?p=64473"},"modified":"2021-07-30T12:35:27","modified_gmt":"2021-07-30T11:35:27","slug":"nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf","status":"publish","type":"post","link":"https:\/\/www.withinnigeria.com\/news\/2021\/07\/30\/nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf\/","title":{"rendered":"Nigeria requires $2.3trn to bridge infrastructure gap &#8211; SGF"},"content":{"rendered":"<p>Secretary to the government of the federation (SGF), Boss Mustapha has stated that $2.3 trillion is needed to bridge the infrastructure deficit in Nigeria over the next 22 years.<\/p>\n<p>This was stated by Boss Mustapha during\u00a0a town hall meeting organised by the Business Hallmark Public Policy Forum in Abuja on Thursday.<\/p>\n<p><span data-preserver-spaces=\"true\">He said the 23-year national integrated infrastructure masterplan (2020-2043) is for the development of <a href=\"https:\/\/www.withinnigeria.com\/news\/2021\/06\/26\/afdb-to-spend-2bn-on-afcfta-infrastructure-projects-in-two-years\/\">infrastructural projects<\/a>, including roads, railway networks and the maritime sector.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIt is important that we appreciate where we are coming from, where we stand, what we need to do to get to our desired destination and most importantly, what government is doing to facilitate reaching that destination,\u201d he said.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cAt inception, in May 2015, President Buhari\u2019s administration was confronted with a monster that is a huge infrastructure challenge, indicated by infrastructure stock that was estimated 35 per cent of Gross Domestic Product (GDP).<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cConscious of the economic disruption caused by 2016 recession and COVID-19 as well as challenges of previous reforms, the Federal Government revised the 23-year (2020-2043) national integrated infrastructure masterplan that identified critical enablers.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cFor the 23-year period, $2.3tn will be required, translating to about $150bn annually, and the private sector and other partners have to provide 56 per cent, while Federal Government and state governments will provide 44 per cent of the share of the investment.<\/span><\/p>\n<div>\n<p><span data-preserver-spaces=\"true\">\u201cThe Federal Government has made important strides towards providing much of our infrastructure and has, in recent years, conducted several infrastructural reforms.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cSpecifically, we are extending and upgrading the nation\u2019s railway network and introducing more locomotive couches. The port sector has been converted to a landlocked model and terminal.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cSimilarly, Public-Private Partnership style infrastructure company<\/span><span data-preserver-spaces=\"true\">\u00a0with an initial seed capital of N1tn envisaging to grow over time to N6tn in assets and capital has been established and will soon commence operation.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cIt will be one of the premier finance entities in Africa and will be wholly dedicated to Nigeria\u2019s infrastructure development.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cThe reduction in Nigeria\u2019s infrastructural gap will also give the country a competitive advantage under the newly signed Africa Free Continental Area Trade Agreement.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), had said the country requires about N35 trillion worth of investment<\/span><span data-preserver-spaces=\"true\"> to attain double-digit growth in achieving the nation\u2019s infrastructure master plan.<\/span><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Secretary to the government of the federation (SGF), Boss Mustapha has stated that $2.3 trillion is needed to bridge the infrastructure deficit in Nigeria over the next 22 years. This was stated by Boss Mustapha during\u00a0a town hall meeting organised by the Business Hallmark Public Policy Forum in Abuja on Thursday. He said the 23-year [&hellip;]<\/p>\n","protected":false},"author":17,"featured_media":50246,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_override_bookmark_settings":[],"jnews_override_counter":[],"footnotes":""},"categories":[2],"tags":[1668,6575,14541,208],"class_list":["post-64473","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-national","tag-boss-mustapha","tag-gross-domestic-product-gdp","tag-infrastructure-deficit","tag-president-muhammadu-buhari"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.8 (Yoast SEO v27.8) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Nigeria requires $2.3trn to bridge infrastructure gap - SGF<\/title>\n<meta name=\"description\" content=\"Secretary to the government of the federation (SGF), Boss Mustapha has stated that $2.3 trillion is needed to bridge the infrastructure deficit in Nigeria over the next 22 years\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/30\/nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nigeria requires $2.3trn to bridge infrastructure gap - SGF\" \/>\n<meta property=\"og:description\" content=\"Secretary to the government of the federation (SGF), Boss Mustapha has stated that $2.3 trillion is needed to bridge the infrastructure deficit in Nigeria\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.withinnigeria.com\/news\/2021\/07\/30\/nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf\/\" \/>\n<meta property=\"og:site_name\" content=\"NEWS PICKS \u2014 WITHIN NIGERIA\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/facebook.com\/withinnigeria\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/SodiqAdewaleChocomilo?mibextid=ZbWKwL\" \/>\n<meta property=\"article:published_time\" content=\"2021-07-30T11:35:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.withinnigeria.com\/news\/wp-content\/uploads\/sites\/5\/2021\/06\/ify_davies\/2021\/06\/23\/Boss-Mustapha1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"700\" \/>\n\t<meta property=\"og:image:height\" content=\"420\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Sodiq Lawal Chocomilo\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@OChocomilo\" \/>\n<meta name=\"twitter:site\" content=\"@withinnigeria\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Sodiq Lawal Chocomilo\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/2021\\\/07\\\/30\\\/nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/2021\\\/07\\\/30\\\/nigeria-requires-2-3trn-to-bridge-infrastructure-gap-sgf\\\/\"},\"author\":{\"name\":\"Sodiq Lawal Chocomilo\",\"@id\":\"https:\\\/\\\/www.withinnigeria.com\\\/news\\\/#\\\/schema\\\/person\\\/db8593431a99b3751c40316ba4b4a452\"},\"headline\":\"Nigeria requires $2.3trn to bridge infrastructure gap &#8211; 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