Nigeria requires $15bn annually to close infrastructure gap — Don

Prof. Joseph Oyedele of the Department of Estate Management, Obafemi Awolowo University (OAU), Ile-Ife, Osun, says Nigeria needs $15 billion annually to fix infrastructural needs of the country.
Oyedele said this while delivering lecture at the Critical National Assets and Infrastructure summit organised by the Nigeria Security and Civil Defence Corps (NSCDC), Osun Command, on Tuesday in Osogbo.
He said the amount is needed for the next six years to close the infrastructural deficit in the country.
The don, who spoke on the topic “Protection of Critical National Assets and Infrastructure As a Panacea for Underdevelopment”, noted that the country’s infrastructural challenge was huge.
According to him, the significance of critical infrastructure to economic development can not be overemphasised.
He said that all hands must be on deck in protecting the critical assets and infrastructure, adding that both public and private sectors must collaborate in finding workable solutions to ensure the security of sites of critical national infrastructure.
“Nigeria’s infrastructure challenge is huge. Recent reports suggest that the country requires between 12 billion and 15 billion U.S. dollars annually for the next six years to meet the infrastructure requirements.
“The establishment of NSCDC is therefore one of the measures to protect critical national assets and infrastructure (CNAI) and which is supported by NSCDC Act 2003 and amended NSCDC Act of 2007”, he said.
Also, Speaking, Prof. Olayinka Karin, the Vice-Chancellor of Fountain University, Osogbo, said that community leaders, citizens, law enforcement agencies, among others have critical roles to play in the protection of public infrastructure.
Represented by Prof. Role Lalude, a lecturer in the University, Olayinka said that public infrastructure must be protected at all cost.(NAN)