News

Nigeria needs $1.5 trillion in 10 years to fix infrastructure- Buhari tells World Leaders

President Muhammadu Buhari has hinted that Nigeria needs about $1.5 trillion in ten years to be able to get her infrastructure up to standard.

The retired General said this to some world leaders on Tuesday in Glasgow at a COP 26 high-level event.

The COP 26 was hosted by President Joe Biden of the United States; European Union Commission President, Von Der Leyen; and the United Kingdom Prime Minister, Boris Johnson.

In a statement released by Garba Shehu, Media Aide to Buhari who was quoted as saying that, “Nigeria is ready for your investments in infrastructural development in the country.

“My administration has established a clear legal and regulatory framework for private financing of infrastructure to establish a standard process, especially on the monitoring and evaluation process.We look forward to working with you in this regard.”

Prince Charles, Emmanuel Macron and Muhammadu Buhari share a laugh.

He added that his administration has taken infrastructure development very serious and is committed to building the National Infrastructure Stock.

‘‘On my assumption of office in 2015, Nigeria faced a huge infrastructure deficit and the total National Infrastructure Stock was estimated at 35 per cent of our Gross Domestic Product,” he said.

“We provided more financial resources for these policies, charted new international partnerships and pursued liberalisation policies to allow private sector participation.

“We introduced the revised National Integrated Infrastructure Master Plan – a policy document that ensures our infrastructure expansion projects is cross-sectorally integrated and environmentally friendly,’’ he said

Categories: News

Tagged as: ,

Leave a Reply