FG Seeks Investors for $140bn Infrastructure Growth

• FG Seeks Investors for $140bn Infrastructure Growth

In an effort to up economic productivity and enhance job creation across every sector of the economy, the Federal Government is seeking $140 billion to build infrastructures.

Okechukwu Enelamah, the Minister of Industry, Trade and Investment, who disclosed this on Wednesday at the opening ceremony of the USA Fair 2019 in Lagos, said the government is determined to ensure the nation has adequate infrastructure that would improve business productivity and deepen economic growth.

He said that determination is the reason the government spent N3.5 trillion on infrastructure in the last three years, according to him, that is nowhere near enough.

“We have realised that there is need for more investments to cover the infrastructure deficit in the country. We are trying to figure out how to raise $140 billion to achieve this over the next four to five years. This is something the government is taking a very hard look at and we are thinking of how to partner with great countries like America as well as other nations and businesses around the world,” the minister said.

The minister said while the US has been a strategic partner to the country, the Federal Government would also consider options from top European nations, China and the Middle East.

“I do tell people that Nigeria does not have the luxury of dealing with just one country. As great as America is, we want to partner with them at the level of our needs that they can meet; we also want to partner with Europe, China, Middle East and other countries of the world. We want to be a good partner to all to survive the challenging time that the world economy is currently going through,” he said.