Federal Capital Development Authority says nigeria need US$3trn but can they manage and use the money wisely to solve this problem if they eventually get the fund?

Federal Capital Development Authority (FCDA) announced in Abuja that Nigeria needs US$3trn to solve their infrastructure deficit problem. This fund will be for the next 30 years according to FCDA Executive Secretary Umar Gambo Jibrin.

According to Jibrin while address a keynote at the head office, Nigerian Society of Engineers (NSE) in Abuja said it will take a period of 30 years to build and maintain infrastructure for Nigeria. This is after National Integrated Infrastructure Master Plan (NIIMP) estimated the total investment of about US$3 trillion.

NIGERIA INFRASTRUCTURE PROBLEM

Lack of quality infrastructure in Nigeria is at an alarming rate. This has made it difficult for business to flow as well as having a negative impact on citizen. Such problem like  electricity shortage, poor road maintenance, housing has made the nation to suffer a lot. 

The nation problem can be fixed but it will require the right people. Nigeria is ranked 144 corrupt nation out of 175 countries according to the 2018 Corruption Perceptions Index reported by Transparency International. This is partly due to lack of trustworthy leaders at the helm of the nation economy.

Meanwhile, Jibrin said energy and transport would take 58% of the investment. While agriculture, water, mining and housing development would take 24% and ICT along with other social infrastructure to take 18% of the investments.

WILL THE FUND HELP RESOLVE THESE CHALLENGES?

So many people will wonder if these new funds will enable them meet this challenges.  As Nigerian are always skeptical when it comes to fund because most of them feels that leaders don’t use it properly.

However despite this believe, fixing Nigeria infrastructure is still possible. The Government just needs to be more smartly deployed to achieve the best value for money in any given project. They should focus on build sustainable projects that will enhance the investment climate. They should also clear roadblocks that makes it difficult for investors to come into Nigeria.

Federal Capital Development Authority says nigeria need US$3trn but can they manage and use the money wisely to solve this problem if they eventually get the fund?

Click on the floating icon on the right to subscribe. More so, please share, Follow us on Twitter and don’t forget to also like us on Facebook. Read More on Nigeria