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$3tr needed to bridge infrastructural deficit in Nigeria—Osinbajo

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Vice President Yemi Osinbajo says three trillion dollars is needed to bridge the infrastructural deficit in Nigeria over the next 30 years.

He said that adopting new models of investments for infrastructural development in the country  was imperative as reliance on public expenditure alone was no longer sufficient to meet the needs.

Osinbajo’s spokesman,  Laolu Akande, in a statement on Thursday in Abuja, quoted the vice president as saying these while featuring at a webinar organised by the Bureau of Public Enterprises (BPE).

The forum was to discuss measures to deepen Nigerian infrastructure stock through Public-Private Partnership (PPP).

Osinbajo said that in spite of government’s interventions over the years, Nigeria still faces a huge infrastructural deficit which is constraining rapid economic growth.

The vice president made reference  to statistics provided in the Nigerian Integrated Infrastructure Masterplan (NIIMP) and the Economic Recovery and Growth Plan.

“The Federal Government recognises this fact which is why we are considering other approaches to complement and boost financing for the development and maintenance of infrastructure in Nigeria.

“It is clear that this deficit can only be made up by private investment.

“Private sector is 92 per cent  of GDP while the public sector is mere eight per cent; so, the synergy between the public and private sector through Public-Private Partnerships (PPP) is really the realistic solution,” the statement qouted him as saying.

Osinbajo said that the Federal Government would have to spend the entire revised 2020 appropriation of N10.81 trillion continuously for the next 108 years or more on capital expenditure (CAPEX) to meet that target.

” The fact that only N2.49 trillion was appropriated for capital expenditure in 2020, reflects the importance of deliberate and pragmatic action to boost infrastructural spending.

“It seems to me to be quite clear that the financial outlay and management capability required for infrastructural development and service delivery outstrip the financial and technical resources available to government.

“In other words, the traditional method of building infrastructure through budgetary allocations is inadequate and set to become harder because of increasingly limited fiscal space,” he said.

On  the benefits of effectively implementing PPP arrangement for Nigeria,  he said if properly designed and executed, PPP models would unlock innovative infrastructure financing and management in a transparent and more efficient manner.

According to him, Nigeria  using PPP frameworks will benefit immensely from huge local and foreign private sector resources.

He said that the Federal Government  was leveraging on the partnership with the private sector to bridge the huge infrastructure gap.

“The Federal Government has recently issued a circular on the administration of PPP projects in the country to provide the much-needed clarity.

” The circular re-emphasises that the BPE shall be responsible for the concession of public enterprises and infrastructure already listed in the First and Second Schedules of the Public Enterprises Act.

“The circular equally stipulates that the BPE shall act on behalf of the Federal Government  as the counterparty on all infrastructure projects being developed on a PPP basis,” he said.

He said the Infrastructure Concession Regulatory Commission (ICRC) would continue to act as the regulatory agency for PPP transactions with powers to inspect, supervise and monitor projects and processes in order to ensure compliance with relevant laws, policies and regulations.

” It is expected that this new policy direction would provide clarity to stakeholders and foster the improvement of PPP programmes in the country.

” Ministries, Departments and Agencies as well as the multilateral agencies and our development partners are urged to support the PPP policy objectives and institutional arrangements already put up by government,” he said.

He said that the Federal Government through the CBN, Nigerian Sovereign Investment Authority and African Finance Corporation and other financial institutions would be creating a N15 trillion Infrastructure Fund.

According to him, the fund  will help to, not only unlock investment from local sources, but also attract foreign private investment in infrastructure development.

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Super Eagles: Chelle Explains Decision to Invite New Players

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Super Eagles head coach Éric Chelle has defended his decision to hand opportunities to several new players during the Unity Cup and the international friendly against Poland, saying the move is part of efforts to strengthen the national team.

According to DAILY POST, Chelle included eight home-based players in his squad for the Unity Cup invitational tournament as he continues to assess new talents capable of improving the team.

Players such as Femi Azeez, Owen Oseni, Arthur Okonkwo, and Rafiu Durosinmi all made their debut appearances during the competition.

Banik Ostrava defender Abdullahi Bewene also earned his first cap for the Super Eagles in the friendly against Poland, while Genk defender Christian Akpan received a late invitation for the upcoming friendly against Portugal.

Speaking to the Super Eagles media team, Chelle said the inclusion of fresh faces is aimed at raising the quality and competitiveness of the squad.

“We have analysed our game over the past year and have tried to bring in players who can help the team grow,” Chelle said.

“We need to improve because, for me and for everyone, it is often the smallest details that make the difference between being the best team and winning a trophy.”

The Malian tactician has continued to experiment with his squad since taking charge, with a focus on building a stronger and more competitive team ahead of future international competitions.

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“I Left the Frying Pan for Hellfire” — Senatorial Aspirant Laments Exit from APC to NDC

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Ehiozuwa Agbonayinwa, an aspirant for the Edo South Senatorial seat under the platform of the Nigeria Democratic Congress (NDC), has expressed deep frustration over his experience in the party, describing his defection from the All Progressives Congress (APC) to the NDC as “moving from the frying pan into hellfire.”

Speaking on Arise NewsNews Day programme on Friday, the former member of the House of Representatives alleged that despite winning the party’s senatorial primary election, he is now being prevented from appearing on the ballot.

Agbonayinwa further accused the NDC’s national leader, Senator Seriake Dickson, of reneging on earlier encouragement for him to contest the Senate seat on the party’s platform. According to him, Dickson personally persuaded him to purchase the party’s expression of interest and nomination forms, only to later deny ever doing so.

“I have moved from the frying pan into hellfire,” Agbonayinwa said.

“After efforts to reach a consensus failed, we proceeded to a direct primary election. Party leaders brought all the aspirants together and encouraged us to step down for one another, but no agreement was reached.

“We went through a rigorous process. I understand the party is relatively new, but in all my years in both the APC and PDP, I have never witnessed this kind of situation. The primary election was held on May 29, and as of June 5, the results have still not been officially announced.”

The former lawmaker said he was particularly disappointed by the role allegedly played by Dickson, whom he described as a longtime friend and respected associate.

“Before joining the NDC, I reached out to Senator Seriake Dickson and later visited him at his residence. During our discussion, he asked why I could not pursue a Senate seat under the NDC platform.

“At the time, I was considering contesting for the House of Representatives, but after his suggestion, I told him I would consult with my political leaders. After doing so, I informed him of my decision and thanked him. To my surprise, the same person who encouraged me to obtain the nomination form has now claimed he never made such a recommendation,” he stated.

Agbonayinwa maintained that the handling of the primary election process has left him frustrated and disillusioned, raising concerns about transparency and internal democracy within the NDC.

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Some Nigerians Have Turned Insecurity Into a Commercial Venture — PDP Chieftain

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A chieftain of the Peoples Democratic Party (PDP), Anthony Ehilebo, has expressed concern over the worsening security situation in Nigeria, alleging that some individuals now view insecurity as a profitable enterprise.

Speaking on News Central’s Politics HQ on Friday, Ehilebo said the failure of authorities to bring perpetrators of major terrorist attacks and kidnappings to justice has contributed to the continued spread of insecurity across the country.

He cited the abduction of schoolgirls in Borno State and the attack on students in Buni Yadi as examples of incidents in which those responsible have not been adequately held accountable.

“When Boko Haram kidnapped girls in Borno State, till today we have not found those responsible and held them to account. Buni Yadi happened and nobody was held to account, and it spread to other schools,” he said.

Ehilebo noted that insecurity in Nigeria has evolved into different dimensions, including terrorism driven by extremist ideology and criminal activities motivated by financial gain.

“There are multiple facets and there is one that is solely domiciled within terrorism and if you look at the literal translation of Boko Haram, it means western education is haram according to radical Islamic teachings,” he stated.

He also alleged that some people now engage in kidnapping and related crimes for economic reasons, citing a recent case involving a senior special assistant in a state government who was reportedly arrested for allegedly staging her own abduction in an attempt to obtain ransom from the government.

“It has now become an industry and a commercial venture for some and for some it has become literally a religious thinking process,” he said.

The PDP chieftain argued that the lack of consequences for criminal acts has encouraged the persistence of insecurity, stressing that stronger political will is required to address the challenge effectively.

“The bottom line that has kept this is the consequence, which is almost driven by political will,” he added.

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