Shell Energy Entrepreneurs banner Yudala banner
Nigeria needs N23bn annually to bridge infrastructural deficit —Infrastructure Bank CEO

By News Express on 07/12/2015

Share on facebook Yahoo mail icon Gmail icon

Views: 1,671


Nigeria needs N23 billion annually to meet its infrastructure financing needs. Mr Adekunle Oyinloye, the Chief Executive of The Infrastructure Bank (TIB) who disclosed this at a press conference in Lagos at the weekend, said that infrastructure decay in the country was massive and required huge funding.

He said that the Federal Government, through the National Planning Commission, once came up with a need of N30 trillion for infrastructure provision in the next 30 years.

Oyinloye said that the current reality was that government could no longer develop the infrastructure alone and needed the partnership of the private sector.

“Government has the responsibility to provide infrastructure, but does not have enough resources to do it.

“Government money can never be enough to develop the infrastructure.

“The government is doing everything within its reach to engage the private sector in the legal regulatory area to ease doing business so that private sector can come in and close the gap.

“This is important as the crude oil price continues to drop at the international market.

“This means that the government must deliberately befriend the private sector to close the gap in infrastructure funding.”

Oyinloye said that the Public-Private Partnership (PPP) was now the best option available to develop the infrastructure in the country in view of declining crude oil earnings.

He said that there were ways to structure deals to ensure iron-cast protection of private investors in PPP.

The bank chief executive said that once private investors were sure of the safety of their investments, they would be more willing to release their funds.

“The first principle in PPP is the principle of fairness and our job is to do that. Once a project is bankable, you can always find financiers.”

Oyinloye, however, said that a major challenge in sourcing funds was the unstable exchange rate of the naira, stressing that many resources were being mobilised abroad.

He said that the bank was devising means to address the problem and attract funds to the country. (NAN)

•Photo shows TIB CEO, Mr. Oyinloye.

Source News Express

Posted 07/12/2015 05:42:12 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

 

You may also like...
Alamieyeseigha: Dickson sets up burial c’ttee, promises state...

FG declares Nigeria meningitis free

100 RAPED IN KANO . . . in...

Royal father arrested over protest against Agip

Buhari charges judges to shun corruption

Dickson coasting to victory in Bayelsa Guber Election;...

Ambode seeks partnership with Israel on agric, technology...

Igbos celebrate German-born Biafran hero

Peterside condemns incessant murder, repression of APC members...

16 kidnap, armed robbery suspects nabbed along Abuja-Kaduna...

Buhari urged to implement administration of criminal justice...

CNPP issues 7-day ultimatum to Petroleum Ministry to...

 

Latest News Access Bank slammed with N200m suit over unlawful account freeze Herdsmen launch another attack in Adamawa, leave 3 dead 2019: Daura youths to purchase nomination forms for Buhari, Masari Ekiti promotes 18 Vice Principals Handshake across the Niger: Ohanaeze lambasts Presidential Spokesman Femi Adeshina Kaduna teachers’ recruitment: 27,639 shortlisted for oral interview Court affirms SERAP’s right to stop ‘double pay’ for ex-governors, seek recovery of over N40bn Fire razes 50 shops, 30 containers of fish in Kano MOSOP rejects call for an Ogoni General Assembly Trump floats ‘nuclear option’ to end shutdown Ugwuanyi commissions state-constructed 103 Battalion Army Barracks road 14 foreigners killed as gunmen storm Afghan hotel

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (316,127 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (306,515 views) Shameless Genevieve Nnaji exposes breasts in public (245,475 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (201,748 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (190,354 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (179,773 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (155,905 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (140,239 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (136,265 views) Lagos plane crash: Journalist releases victims’ names (124,734 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (122,066 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (119,116 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,854) Business Verdict (32) Columnists (792) Complaints & Requests (94) Enterprise & Opportunities (200) Entertainment (431) Features (541) Global Business Monitor (222) International (1,751) Interviews (139) Live Commentary (28) Love Matters (100) News (32,066) Opinion (868) Pidgin (10) Politics (4,364) Religion (667) Sports (1,408) Stock Watch (26) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!