Infrastructure Deficit to Reach $878bn by 2040 – SEC

• Infrastructure Deficit to Reach $878bn by 2040 – SEC

Nigeria’s infrastructure deficit has been estimated to hit $878 billion by 2040, according to the Security and Exchange Commission, SEC.

SEC Acting Director-General, Ms. Mary Uduk, disclosed this at the 2018 annual workshop organised by the Capital Market Correspondents Association of Nigeria (CAMCAN) in Lagos.

Uduk said the nation should use the green bond for infrastructure gap, adding that the commission would provide an enabling platform for its issuance.

“The future holds opportunities for renewable energy, energy efficiency, infrastructure, food, agriculture and the task ahead is to ensure funds are channeled to green projects with multiple socio-merits,” Uduk said.

She further said domestic participation in green bonds investment is important to raise necessary fund needed to close infrastructure deficit.

Uduk, who was represented by Head, Registration, and Market Infrastructure Department, SEC, Mr. Emomotimi Agama, said it was necessary for Nigeria to stand at the forefront of innovations and initiatives.