Nigeria Requires $15bn Annually to Close Infrastructure Gap — Don
Prof. Joseph Oyedele, of the Department of Estate Management, Obafemi Awolowo University(OAU), Ile-Ife, Osun, says Nigeria needs $15 billion annually to fix infrastructural needs of the country.
Oyedele said this while delivering lecture at the Critical National Assets and Infrastructure summit organised by the Nigeria Security and Civil Defence Corps (NSCDC), Osun Command, on Tuesday in Osogbo.
He said the amount is needed for the next six years to close the infrastructural deficit in the country.
The don, who spoke on the topic “Protection of Critical National Assets and Infrastructure As a Panacea for Underdevelopment”, noted that the country’s infrastructural challenge was huge.
According to him, the significance of critical infrastructure to economic development can not be overemphasised.
He said that all hands must be on deck in protecting the critical assets and infrastructure, adding that both public and private sectors must collaborate in finding workable solutions to ensure the security of sites of critical national infrastructure.
“Nigeria’s infrastructure challenge is huge. Recent reports suggest that the country requires between 12 billion and 15 billion US dollars annually for the next six years to meet the infrastructure requirements.
“The establishment of NSCDC is therefore one of the measures to protect critical national assets and infrastructure (CNAI) and which is supported by NSCDC Act 2003 and amended NSCDC Act of 2007”, he said.
Also, Speaking, Prof. Olayinka Karin, the Vice-Chancellor of Fountain University, Osogbo, said that community leaders, citizens, law enforcement agencies, among others have critical roles to play in the protection of public infrastructure.
Represented by Prof. Role Lalude, a lecturer in the University, said that public infrastructure must be protected at all cost.
In his remarks, Dr Amintayo Adaralewa, the Osun NSCDC Commandant, called for the collaborative efforts in protecting the public infrastructure. Naira Skids as FX Turnover, External Reserve Decline
“It is important to stress that the basic difference between developed and developing countries lies in the sophistication and prioritisation of critical national assets and infrastructure which are now automated, linking man to machines, and sectors to sectors.
“We must be constantly reminded that patriotism is a duty and not a choice.
“For this reason, the clarion call here is for all and sundry to collectively deal with the criminality predisposing national assets to various forms of threats and vulnerabilities,” he said.
Earlier, Vincent Linus, Head of Department, NSCDC Critical National Assets and Infrastructure (CNAI), said the summit was organised to highlight strategic protection plan of the Corps for critical assets and infrastructure
