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The Speaker of the House of Representatives, Honourable Tajudeen Abbas, has said Nigeria needs to invest about $3 trillion over the next 30 years to close the infrastructure gap in the country.
Abbas stated this during the flag-off ceremony for the construction of the access road from Ring Road 1 by N16 to the Judges’ Quarters.
Represented by the Deputy Speaker, Hon. Benjamin Kalu, he noted that infrastructure development is not just the foundation upon which economies are built but the lifeblood of national progress.
He said, “This is yet another significant stride towards strengthening our urban infrastructure and enhancing the quality of life for the residents of Abuja.
“Infrastructure development is not just the foundation upon which economies are built; it is the lifeblood of national progress. In a rapidly urbanising world, infrastructure, particularly in urban centres like Abuja, is crucial to fostering sustainable development, enhancing economic growth, and improving the well-being of our citizens.
“The construction of roads, bridges, and other critical infrastructure facilitates the movement of people, goods, and services, which in turn spurs productivity, creates jobs, and improves the living standards of all Nigerians.
“In the Federal Capital Territory, with its unique status as the seat of government, the development of infrastructure is not only an economic necessity but also a reflection of our national aspirations.
It is common knowledge that Nigeria, like many other developing nations, has an infrastructure deficit.
“According to recent estimates, Nigeria needs to invest about $3 trillion over the next 30 years to close the infrastructure gap and achieve the level of development required for sustained economic growth. The road network, power supply, housing, healthcare, and education sectors are some of the areas in urgent need of attention.
“Here in Abuja, the infrastructure deficit is more glaring as the city’s population continues to grow at an annual rate of 5%. This puts pressure on existing facilities and highlights the need for more access roads, housing, and essential services to cater to the needs of residents.
“Under the leadership of President Bola Ahmed Tinubu, there have been commendable initiatives aimed at addressing this infrastructure deficit. The administration has launched the National Infrastructure Plan, focusing on road construction, rail expansion, power generation, and housing development. One notable project is the revival of the Lagos-Ibadan Motorway and the Second Niger Bridge, which have been completed and are now boosting trade and connectivity across regions.
“The administration is also working tirelessly on the power sector, with the National Integrated Power Projects (NIPP) aiming to improve electricity generation and distribution nationwide. These initiatives show that the government understands the role infrastructure plays in national development and is committed to making the necessary investments.”
Earlier, the Federal Capital Territory (FCT) Minister, Barrister Nyesom Wike, thanked the Speaker and the National Assembly for their support and urged the contractor to complete the project in record time to be commissioned on Mr President’s second year anniversary in office.
He said, “What we agreed is that this will be part of the presidential second-year anniversary. So please note that. We have the money for you, so don’t be afraid. This is not a project that will cost us N10 billion, and we have N500 million in the budget.
“No, as I speak to you, we have not less than 70% of the money in the budget. So you have to work day and night to make sure Mr. President commissions the project for the second-year anniversary. Let me also say this clearly.
“A lot of people have said that, just like one AMC said, that we are concentrating in Abuja. That is not correct. As I speak to you, tomorrow, Thursday, we’ll be at the area councils. And on Monday, we’ll be in Abuja; we’ll be in Gwagwalada; we’ll be in Kwali. This December, we are commissioning six roads that will total about 65 kilometres in the area councils. This December. So anybody who is saying that we are concentrating in the city is not saying the truth.
“The truth is that the attention we give to the city is also the attention we give to the area councils. But of course, you know, it is the city that tells you how the place will be. If foreigners come to the city and the city does not look good, it is giving them pressure. But if the city does not look good, you can imagine what will happen in the rural areas.”
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