By Chijioke Okoronkwo
Vice President Yemi Osinbajo says the only way to effectively address the massive infrastructure deficit in Nigeria is by Public-Private Partnership (PPP) arrangement.
Osinbajo’s spokesman, Laolu Akande, in a statement on Thursday in Abuja, said the vice president spoke at the opening ceremony of a 2-day retreat of the National Council on Privatisation (NCP).
The retreat will, among other things, deliberate on the proposed amendment of the Public Enterprises (Privatisation and Commercialisation) Act, 1999.
The vice president said that Nigeria would require at least 2.3 trillion dollars over the next 30 years to bridge the infrastructural gap.
“The review of budgetary allocation for capital expenditure even over the past decade will show that government resources are completely insufficient for this purpose.
“While government can take either commercial or concessionary loans for infrastructure development, this is an additional burden on a usually…
Source: News Agency of Nigeria
