Nigeria Needs 1.5 Trillion Dollars In Ten Years To Bridge The Infrastructure Gap

BUHARI
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By: Rakiya Garba Karaye, Maiduguri

President Muhammadu Buhari says 1.5 trillion dollars is the cumulative estimated amount needed by Nigeria over a ten-year period, to achieve an appreciable level of the National Infrastructure Stock.

President Buhari gave the figure on Tuesday in Glasgow at a COP 26 high-level side event on improving global infrastructure hosted by President Joe Biden of the United States, EU Commission President, Von Der Leyen and the UK Prime Minister, Boris Johnson.

He said ‘‘Nigeria is ready for your investments in infrastructural development in the country.

He also said ‘‘My administration has established a clear legal and regulatory framework for private financing of infrastructure to establish a standard process, especially on the monitoring and evaluation process.

He added that ‘‘We look forward to working with you in this regard,’’ he told world leaders at the high level meeting on the margins of the climate change conference.

President Buhari also declared that his administration had taken infrastructure expansion in Nigeria seriously, conscious of the fact that new investments in critical sectors of the economy would aid lifting 100 million Nigerians from poverty by 2030.

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