BY 2043, NIGERIA’S INFRASTRUCTURE DEFICIT IS FORECAST TO HIT $2.3 TRILLION.
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BY OWOLABI OLUWADARA
Experts indicated on Tuesday that Nigeria’s infrastructure shortfall could reach $2.3 trillion by 2043 if not adequately addressed. This information was disclosed during a significant pre-summit dialogue on ‘Catalyzing Bankable Public-Private Partnerships through the Infrastructure Project Preparation Facility’ in anticipation of the 31st Nigerian Economic Summit (NES 31), organized by the Nigerian Economic Summit Group (NESG) in collaboration with the UK Nigeria Infrastructure Advisory Facility (UKNIAF) in Abuja.
The dialogue convened policymakers, development allies, financiers, and private sector stakeholders to tackle the projected shortfall as articulated in the National Integrated Infrastructure Master Plan (NIIMP).
Conversations focused on the significance of Public-Private Partnerships (PPPs) and the necessity for enhanced project preparation to attract private investment.
In his welcoming address, Nnanna Ude, Board Director of NESG, emphasized that unlocking private capital through well-structured projects is vital for achieving inclusive and sustainable development.
Ude reaffirmed NESG’s dedication to promoting reforms that enhance Nigeria’s investment environment and infrastructure competitiveness.
While delivering the keynote address, the UKNIAF team, led by Abdul Oladapo, underscored that inadequate project preparation continues to obstruct effective PPPs in Nigeria.
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Poorly designed proposals, insufficient feasibility studies, and limited institutional capabilities consistently hinder investment. They urged the adoption of systematic approaches to upstream project preparation via the Nigeria Project Preparation Facility (NPPF), supported by the Federal Government’s ₦42 billion allocation in the 2024 and 2025 budgets.
Previous endeavors by organizations such as the International Development Association (IDA) and the Public-Private Infrastructure Advisory Facility (PPIAF) were acknowledged as having yielded limited success due to similar deficiencies.
A high-level panel session on ‘Strengthening Nigeria’s PPP Pipeline – Institutional Perspectives,’ moderated by Engr Nyananso Gabriel Ekanem, Thematic Lead of NESG Infrastructure and Allied Services Policy Commission, included experts from the governmental, financial, and developmental sectors.
Key insights encompassed the necessity for enhanced risk assessment and technical acumen to bolster bankability, effective risk-sharing mechanisms within contracts, the creation of recycling funds from successful transactions, leveraging climate finance, and establishing implementing entities that integrate skills while co-developing projects to protect capital.
Panelists collectively highlighted the importance of robust institutional frameworks, technical capability, and de-risked pipelines in mobilizing long-term capital.
Earlier, Saadiya Aliyu, Facilitator of the NESG Infrastructure & Allied Services Policy Commission, urged stronger collaboration between the government, private sector, and development partners to promote sustainable infrastructure advancement.
The dialogue concluded with a unified appeal to prioritize bankable project preparation as the cornerstone for unlocking Nigeria’s infrastructure transformation.
The discussions will inform the agenda for NES 31, themed ‘The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,’ scheduled for October 2025.
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