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Nigeria Must Invest $3tn Over 30 Years to Bridge Infrastructure Gap, Says Speaker

Tajudeen Abbas outlines urgent need for investment in roads, power, and essential services as Abuja’s population surges.

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Nigeria will need to invest an estimated $3 trillion over the next three decades to address its vast infrastructure shortfall, the Speaker of the House of Representatives, Tajudeen Abbas, warned on Tuesday. Speaking at a ceremony in Abuja for the construction of a key access road, Abbas highlighted critical sectors requiring immediate investment, including transportation, energy, housing, healthcare, and education.

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Abbas, represented by Deputy Speaker Benjamin Kalu, stressed that the infrastructure deficit is particularly acute in Abuja, where a five percent annual population growth is straining the city’s facilities. “Here in Abuja, the infrastructure deficit is more glaring as the city’s population continues to grow,” Abbas said, emphasising the need for additional roads, housing, and essential services.

He noted that Nigeria, like many other developing nations, faces a significant gap in infrastructure, which, if left unaddressed, could hinder long-term economic growth. “According to recent estimates, Nigeria needs to invest about $3tn over the next 30 years to close the infrastructure gap and achieve the level of development required for sustained economic growth,” he said.

Abbas praised President Bola Tinubu’s administration for initiating efforts to tackle these challenges, noting that since taking office in May 2023, Tinubu has launched several infrastructure-focused initiatives. “These initiatives show that the government understands the role infrastructure plays in national development and is committed to making the necessary investments,” Abbas said, adding that the National Assembly is fully behind the government’s agenda.

The Speaker also commended FCT Minister Nyesom Wike for his urban renewal efforts, which include road construction and the rehabilitation of major city routes. “From road construction to urban renewal programmes, his dedication to enhancing the infrastructure of the FCT is evident,” Abbas remarked, adding that these developments are not just ceremonial but mark real progress toward making Abuja a world-class city.

The road project, linking Ring Road 1 to the Judges’ Quarters in Abuja, is just one of several aimed at easing congestion and improving access in the capital, a city whose infrastructure has struggled to keep pace with its rapid growth. “We have witnessed several flag-offs, not just as ceremonial acts, but as milestones in the commitment to make Abuja a world-class city,” Abbas said.

As Nigeria grapples with these pressing infrastructure needs, the challenge ahead remains immense, but Abbas’s message was clear: the time to act is now, and the cost of inaction would be far greater than the investment required.

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