President, Nigerian Institute of Quantity Surveyors, Mr. Agele Alufohai
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The
Nigerian Institute of Quantity Surveyors has said that about $2.9tn
(N464tn) will be needed to address the huge infrastructural deficit in
the country.
The institute’s President, Mr. Agele
Alufohai, stated this on Tuesday in Abuja while briefing journalists on
the forthcoming biennial meeting and conference scheduled to commence on
Wednesday (today).
Alufohai said in view of the financing
gap, the institute had concluded arrangements to bring together some of
Nigeria’s best minds in the private and public sectors to explore the
Public Private Partnership option.
He said, ‘’Private investors commit about
$200bn to acquiring, building or operating infrastructure all over the
world; early this year, the government of Brazil announced a plan to
attract $2bn of private money to airport PPPs.
“Given our great economic potential and
the extent to which it could be leveraged by expanding the provision of
critical infrastructure, we have not done as much as we should. The NIQS
is bringing Nigeria’s best minds in the private and public sectors to
explore how PPP could play a more significant role in closing Nigeria’s
infrastructure gap, which had been calculated to be around $2.9tn.”
He said the gap was so huge that it would
be difficult for the government to finance it through budgetary
provisions, adding that with PPP, the country would witness a massive
transformation of the economy.
“An economy that is endowed with
infrastructure is one that attracts investments, is more efficient and
creates jobs in greater numbers.
“Nigerians suffer in many ways from poor
infrastructures, which include low levels of employment, highcost of
transportation and excessively long-journey times and low quality of
life,” he added.
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