A construction industry expert, Mr Temitope Runsewe, has applauded the Central Bank of Nigeria (CBN) for its proposed N15 trillion Infrastructure Fund, saying it was key to job creation and economic growth.
Speaking with newsmen in Abuja on Tuesday, Runsewe said that the opportunity to utilise private sector funds to support infrastructure investment in critical sectors of the economy had enormous benefits.
He recalled that in July, the Secretary to the Government of the Federation (SGF), Mr Boss Mustapha, had alluded that the nation’s infrastructure deficit would require billions of dollars annually to fix.
He also pointed to a report by a credit rating firm – ‘Moody’ in a 2020 report where it projected that Nigeria would require about three trillion dollars over the next 30 years to solve its infrastructure issues.
Against this backdrop, Runsewe commended the Apex bank for the bold proposal, adding that examples abounded around the world of private-sector funds being used for capital projects.
“The effects of unstable power supply, decrepit public infrastructure and inadequate social amenities are a reality most Nigerians are all too familiar with.
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