A report by the Africa Development Bank, ADB has projected that Nigeria requires $3trillion in infrastructure investment over the next three decades and around $165 billion in the medium term to establish a world class infrastructure network capable of sustaining economic growth and development.
He spoke while delivering a keynote address at the 2023 Chartered Institute of Bankers of Nigeria, CIBN Fellowship Investiture themed: “Harnessing Nigeria’s Economic Potentials for Growth and Development: Strategic Imperatives” held in Lagos. He said: “Infrastructure contributions to economic development especially in terms of industrialization is monumental as it creates an enabling environment for productive activities, fostered investment, facilitates the movement of goods and people, enhances information dissemination and it is in diversifying and commercialising the economy on a broad scale.