For Nigeria to close the infrastructure gap in the critical sectors of the economy, about $11 trillion would be required, the Association for Consulting Engineering in Nigeria , has revealed.
While lamenting the dearth of infrastructure in many African countries as one of the drawbacks for achieving meaningful growth in many countries, the speakers noted that infrastructure deficit in sub-Saharan Africa was exacerbated by low investment and poor funding. provision of critical socio-economic infrastructure that could catalyse growth in the Gross Domestic Product and stimulate prosperity.
He said, “As the theme of this year’s conference, “Infrastructure Development in Africa,” connotes, you have dedicated this edition of your conference towards reawakening us as individuals, private organisations and as government to raise awareness about the critical role infrastructure plays in competitive global economy in the 21st century.
He said the state government has consistently accorded infrastructure development and renewal priority to build a stronger economic base in line with the status of Lagos State as Africa’s fastest- growing megacity. He further said the hosting of the conference in Nigeria for the third time was significant in light of the global recovery from COVID-19, adding that infrastructure development is strategic to the efforts at reflating the national economy.