Nigeria spends $10b annually on infrastructure

NigeriaNigeria currently spends N1.6trillion ($10b) on infrastructure per annum, Minister and Deputy Chairman of the National Planning Commission of the Presidency, Dr Shamsuddeen Usman has said.

Presenting the Draft National Intergrated Infrastructure Master Plan at a validation workshop for the masterplan in Calabar, the Cross River State capital, Usman said N480 trillion ($2.9trillion) is required to close Nigeria’s infrastructural gap over the next 30 years.

Usman who spoke through the Director of Infrastructure in the commission, Olugbenga Adigu, said in the short term, transport and energy should be prioritised as asset classes with the largest immediate economic benefit.

Nigeria, he said should be able to export electricity to other Economic Community of West African States (ECOWAS) countries by 2043 among other sectorial goals, he projected.

Secretary of the Commission, Mr Fidelis Ugbo, said in view of the country’s huge infrastructure gap which has slowed down development it became imperative for the Federal Government to respond by initiating the process for the development of the masterplan.

He said the masterplan is a 30-year plan for accelerating infrastructure development in Nigeria.

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NIGERIA: 18 SOLDIERS ON TRIAL FOR AIDING BOKO HARAM

SoldiersEighteen soldiers, including a lieutenant, on Monday appeared before a General Court Martial in Jos, Plateau State for aiding members of the fundamentalist Islamic sect, Boko Haram, and other insurgent groups in their activities.

The soldiers are members of the Joint Task Force code named Operation Restore Order in Borno State and the SpecialTask Force also known as Operation Safe Heaven in Plateau State.

The JTF and STF were deployed in the two states following the menace of insurgent groups in the country. While the JTF is also battling with Boko Haram members in Adamawa, and Yobe states, the STF has been grasping with Fulani herdsmen who, in the past 10 years had taken Plateau State by the jugular. Continue reading

Visa bond, an insult to Nigeria -Oba Akiolu

The Lagos traditional ruler,  Oba  Rilwan Akiolu,  has condemned the proposed  £3000 visa  application bond by the  government on Nigeria and some other nations.

Oba Akiolu  described  the proposed visa application bond as “ an insult to Nigeria” and urged the British government to reconsider  the proposed ban.

The traditional ruler made the remarks on Monday, in Lagos, during a five- day  workshop on “Corporate Fraud :Insider Abuse in the Financial Sector  and the Implication on a Growing Economy,” organised by the Special Fraud Unit, in collaboration with the City of London Police in Lagos.

Oba Akiolu said “it is unacceptable to us as a nation, we will not take it. It is a big insult on us for British to demand 3000 pounds before we can go to London. We are not criminals.” Continue reading