By Abubakar Yunusa
Engr (Dr.) Oluwaseun Yinka Alabi, has urged the Nigerian government and private sector to adopt a more sustainable approach to financing infrastructure projects.
Speaking at the January general meeting of the Nigerian Society of Engineers (NSE) Abuja branch, Dr. Alabi, highlighted the challenges of infrastructure development in Nigeria.
His presentation, titled “The Dilemma of Infrastructure Development in Nigeria: A Call for a Shift in Financing Approach,” emphasized the need for long-term project sustainability.
“One of the major challenges of not having a developed community, country, or continent is the negative impact on GDP. It affects the overall well-being and status of citizens,” he said.
Dr. Alabi argued that infrastructure projects should not be conceived based on short-term plans but should consider future cash flows and long-term economic benefits.
He cited the example of a cocoa processing plant, stressing the importance of assessing revenue potential, market demand, and local sourcing before initiating such projects.
“It is not a project that must be conceived on frivolities. It must be conceived on the basis of developmental impact,” he said.
“When we do this cocoa plant, it’s going to employ 3,000 people. It’s going to serve 2,000 communities. It’s going to create physical well-being.”
Dr. Alabi emphasized that engineers play a crucial role in infrastructure development but require strong financial backing. He called for stronger partnerships between government institutions, the private sector, and financial organizations.
“As engineers, we are the drivers of infrastructure development, and we need support because we can execute. We need support on financing,” he stated.
“We have the knowledge, but we don’t have the financing. So, we need to bring the knowledge while they bring the finance.”
He also urged communities to take an interest in the sustainability of projects, emphasizing that all stakeholders—including governments, financiers, and local communities—must contribute to maintaining infrastructure.
Reflecting on past projects in Nigeria, Dr. Alabi pointed out that many were either abandoned, left incomplete, or fell into disrepair due to poor financing structures. He advocated for structured project financing that ensures not just execution but also long-term maintenance.
“This call for a shift in financing approach is about structured project financing, where projects can be financed, sustained, and also used to develop the community,” he concluded.
