Nigeria needs $3tn to bridge infrastructure gap — Osinbajo

The Vice President, Prof. Yemi Osinbajo, on Thursday, said Nigeria requires about $3tn over the next 30 years to bridge the infrastructure gap across the country.

In his address at a webinar organised by the Bureau for Public Enterprises on deepening the Nigerian infrastructure stock through Public-Private Partnership, Osinbajo said it would be difficult for the government to provide the humongous sum.

He noted that the $3tn was arrived at based on findings contained in the Nigerian Integrated Infrastructure Masterplan and the Economic Recovery and Growth Plan.

The Vice President said adopting new models of investments for infrastructural development was now an imperative as reliance on public expenditure alone was no longer sufficient or capable of meeting the $3tn needed to bridge the infrastructural deficit.