$3trn Needed To Close Infrastructure Gap In 30 Years – Reps

Speaker of the House of Representatives, Hon. Abbas Tajudeen Abbas on Tuesday said Nigeria needed to invest $3 trillion in the next 30 years to bridge the gap in infrastructure.

He also said the road network, power supply, housing, healthcare, and education sectors are some of the critical areas which needed urgent attention.

Speaker Abbas made the disclosure at the flag-off ceremony for the construction of the access road from ring road 1 by N16 to Judges’ Quarters in Katampe District of Abuja.

Represented by the deputy speaker, Hon. Benjamin Kalu, the Speaker said that the infrastructure deficit in the Federal Capital Territory (FCT) is more glaring as the city’s population continues to grow at an annual rate of five per cent, thereby putting pressure on the existing facilities.

A statement by the Chief Press Secretary to the Deputy Speaker, Levinus Nwabughiogu, said Abbas however commended the administration of President Bola Ahmed Tinubu for prioritising infrastructure development.

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He also assured that the House will give the necessary legislative backing to the FCT administration, more so, strengthen its oversight functions to ensure that the government delivers on its determination to elevate the status of Abuja.

Abbas said: “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. These initiatives show that the government understands the role infrastructure plays in national development and is committed to making the necessary investments.

“As the legislature of the FCT, the National Assembly has an important role to play in supporting these development efforts. The 10th National Assembly, which I am privileged to lead, is fully committed to collaborating with the Executive to ensure that the FCT receives the necessary legislative backing to facilitate infrastructure development.

“We are ready to consider and pass laws that will further enhance the governance structure of the FCT and approve appropriations that will make meaningful infrastructure projects, such as this road construction, a reality.”

Abbas said the National Assembly will continue to exercise its oversight functions to ensure that projects are implemented according to standards and within stipulated time frames.

The Speaker also commended the  Minister of the FCT, Nyesom Wike for his transformative leadership since assuming office.

On his part, the minister said the access road to the Judges quarters as well as other internal roads in the residential quarters, would be completed by May next year to mark the President’s second year anniversary and assured the contractor of adequate funding.