Former Minister of Budget and Planning, Shamsuddeen Usman, said about 2,900 billion dollars was required for Nigeria’s infrastructure development from 2014 to 2044.
Usman made this known at a workshop on Review of 2018 Budget Estimates and Analysis organised by the National Institute for Legislative Studies (NILS) on Wednesday in Abuja.
He decried the infrastructure deficit in the country, and said that the estimates for infrastructure development were arrived at when Nigeria’s 30 years Integrated Master Plan was developed a few years ago.
He explained that out of the development projection, 127 billion dollars was earmarked to be spent between 2014 and 2018.
The former Minister added that from the 127 billion dollars estimate, an average of 25 billion dollars was estimated for infrastructure development annually during the period.
However, he disclosed that in spite of the estimation, only between nine billion dollars and 10 billion dollars was currently being spent on infrastructure development.
“We are not doing well against our competitors like Brazil, China and South Africa.
“We need an integrated infrastructure development like other countries to put the country on the same pedestal with these countries.
“Unfortunately, the kind of coordination and integration we need to develop our infrastructure, is not there because the various agencies of government do not collaborate to make this happen,’’ he said.