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Minister of Finance, Budget and National Planning, Ms. Zainab Ahmed, said Nigeria will need $2.3 trillion over the next 20 years to address its infrastructure problems.

Speaking at the Integrated Research on Infrastructure for Development conference held in Abuja, Zainab said the private sector has a vital role to play in upgrading Nigeria’s infrastructure.

She said, “In the national development plan, we have costed the investment needed; $2.3 billion with an 86% private sector contribution expected between 2021 and 2025.

The minister further said that the revised National Integrated Infrastructure Master Plan aims to fund key sectors of the economy such as power, rail, roads, housing and agriculture through innovative partnerships. with the private sector.

Citing an example, she said the Road Infrastructure Development and Rehabilitation Investment Tax Credit program launched in 2019 leveraged private sector expertise to build, repair and maintain federal highways. essential.

“We launched the Road Infrastructure Development and Rehabilitation Investment Tax Credit program launched in 2019 to mobilize private sector capital through tax credits and provide private sector expertise to build , repair and maintain critical road infrastructure in key economic growth corridors and industrial clusters in Nigeria. ” said the minister.

It will be recalled that in August 2022, the vice-president, Yemi Osinbajo also positioned the same thing.

The vice president said Nigeria faces an infrastructure gap of about $2.3 trillion that it will need private sector help to fill.

Osinbajo noted that collaboration between the federal government and the private sector would not only ensure effective coordination of infrastructure development across the country, but also fill the country’s infrastructure gaps.

Meanwhile, king of investors learned that more than that, the federal government has positioned more than 6 trillion naira as relief in the 2023 budget. a budget deficit of over 10 trillion naira.

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