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FG inaugurates National Council on Infrastructure

Prof. Yemi Osinbajo

. Reiterates public private partnership

The Federal Government yesterday reiterated that collaboration with the private sector will not only ensure effective coordination of infrastructure development across all sectors of the economy, but will also bridge the nation’s infrastructural gaps.

Vice President Yemi Osinbajo, said this at a virtual meeting while inaugurating the National Council on Infrastructure, which aims to double Nigeria’s infrastructure stock of the Gross Domestic Product (GDP) to 70% up from the current level of about 35% by the year 2043.

A statement by the Vice President, spokesman, Laolu Akande, quoted Osinbajo as saying that the inauguration of the Council was “for efficient and effective implementation of infrastructure projects, the National Integrated Infrastructure Master Plan recommended the establishment of the National Council on Infrastructure and its Technical Working Group (TWG).”

He noted that the Infrastructure Master Plan was developed to provide “an integrated view of infrastructure development in Nigeria with clear linkages across key sectors and identifies enablers for successful implementation in line with the current economic realities.”

He added that the Plan takes stock of existing infrastructure and specifically sets out the goal of raising Nigeria’s infrastructure stock to at least 70% by the year 2043.

…the success of the National Integrated Infrastructure Master Plan will depend, to a large extent, on the establishment of a strong implementation mechanism and framework that promotes performance and accountability.

Implementation mechanism

Osinbajo continued: “the success of the National Integrated Infrastructure Master Plan will depend, to a large extent, on the establishment of a strong implementation mechanism and framework that promotes performance and accountability.”

Therefore, the National Council on Infrastructure “is to provide policy direction on infrastructure matters and drive the creation and sustenance of the expected synergy and linkages between the public and the private sector to enhance the implementation of the Infrastructure Master Plan, while the Technical Working Group is to provide guidance to the Council and advise on all infrastructure related matters.”

He noted that the estimated $2.3 trillion funding requirement for the implementation of the Master Plan was too large to be provided from public resources alone.

He informed that the governance structure conforms with global best practice, as “a well-coordinated and strategic approach will be required to harness private resources to increase the stock of Nigeria’s infrastructure to the desired level by the year 2043.”

“The private sector is expected to play an increasingly important role either directly or in collaboration with the government through Public Private Partnership (PPP) with the government providing a supportive environment with stable and transparent policies, rules and regulations.”

Osinbajo added that the Federal Ministry of Finance, Budget and National Planning, through its Infrastructure Delivery Coordinating Unit, has been strengthened further to function as the Secretariat for the Council.

The private sector is expected to play an increasingly important role either directly or in collaboration with the government through Public Private Partnership (PPP) with the government providing a supportive environment with stable and transparent policies, rules and regulations.

Council membership

The National Council on Infrastructure is chaired by the Vice President and members include the representative of the state governors; ministers, heads of government agencies and the private sector.

Members include the Governor of Ekiti State and Chairman of the Nigeria Governors Forum, Dr. Kayode Fayemi; Minister of Finance, Budget and National Planning, Mrs. Zainab Ahmed; Attorney General of the Federation and Minister of Justice, Abubakar Malami.

others are the Ministers of  Works, Babatunde Fashola; Power, Abubakar Aliyu; Transportation, Mu’azu Jaji Sambo; Communications and Digital Economy, Isa Pantami; Water Resources, Suleiman Adamu; Aviation, Hadi Sirika; Minister of State, Budget and National Planning, Prince Clem Agba; and Governor of the Central Bank of Nigeria, Godwin Emefiele.

Also included are the President, Manufacturers Association of Nigeria (MAN), Mansur Ahmed; National President, Nigerian Association of Chambers of Commerce, Industry Mines and Agriculture (NACCIMA), John Udeagbala; the Executive Vice Chairman/CEO, Federal Competition and Consumer Protection Commission (FCCPC), Babatunde Irukera; Managing Director/CEO, Nigeria Sovereign Investment Authority (NSIA), Uche Orji; among many others.

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