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Tag: infrastructure

  • Fed Govt gave out N2.45tr as infrastructure, security support to states, FCT

    Fed Govt gave out N2.45tr as infrastructure, security support to states, FCT

    The Federal Government disbursed N2.45 trillion to the 36 states of the federation and the Federal Capital Territory (FCT) between March 2024 and August 2025 for infrastructure development and security intervention.

    The sum was to help them repair roads and bridges, improve schools and health facilities, and strengthen security operations during the period.

     Special Adviser to the President on Policy Communication, Daniel Bwala, made this known yesterday in a post on his verified X handle  @BwalaDaniel.

    “This support is helping to fix roads and bridges, improve schools and health facilities, and strengthen security operations in communities across the country where Nigerians need results the most,” he said.

    Bwala explained that federal support to states is consistent with global norms, noting that countries such as the United States routinely provide federal funding to state and local governments to support infrastructure, education, health and public safety.

    READ ALSO: U.S. confirms troops on ground in Nigeria amid ISIS counterterror push

     He added that India and several other developed economies also deploy central government grants to help regions deliver major projects and essential services closer to the people.

    Bwala linked the interventions to the policy direction of the administration of Bola Ahmed Tinubu, particularly the 2025 Budget of Restoration, which prioritises securing peace, rebuilding prosperity and strengthening national development.

    Under the budget framework, he said priority remains on security, infrastructure, health and education, with emphasis on transparency, accelerated delivery of energy, transport and public works, job creation and improved living standards.

    Bwala added that sustained cooperation between the Federal Government and the states is critical to achieving a safer and more prosperous Nigeria.

    “Under President Tinubu’s 2025 Budget of Restoration, Securing Peace, Rebuilding Prosperity, priority remains on security, infrastructure, health and education,” he said.

    “The goal is clear to ensure transparent use of funds, accelerate energy, transport and public works, create jobs and improve living standards through strong cooperation between the Federal Government and the states for a safer, more prosperous Nigeria”, Bwala added.

  • ‘Infrastructure is backbone of development’

    ‘Infrastructure is backbone of development’

    President Bola Ahmed Tinubu inaugurated the access road to the Lekki Deep Sea Port in Lagos yesterday and kicked off many projects across the country, promising to increase funding for critical infrastructure development.

    The President said his administration’s commitment to infrastructure development is part of a strategy to boost trade, agriculture, and regional connectivity.

    According to him, roads are not just physical structures but key enablers of economic growth, job creation, and national integration under the government’s Renewed Hope Agenda.

    President Tinubu also kicked off Section II of the Lagos-Calabar Coastal Highway and the 7th Axial Road, alongside many ongoing road projects across northern Nigeria, including the Kano–Kongolam Road and the Yakasai–Zalli Road.

    “These roads are vital to unlocking economic opportunities and improving the lives of Nigerians,” the President said.

    Coming on the back of the inauguration of the first section of the Lagos-Calabar Coastal Highway, President Tinubu said infrastructural development would remain a priority.

    According to him, infrastructure is the backbone of any industrialisation, economic development, and job creation of any nation.

    Africa’s richest man and President, Dangote Group, Alhaji Aliko Dangote, said President Tinubu’s economic reforms have reignited hopes across the country.

    Billionaire businessman and Chairman, BUA Group, Alhaji Abdulsamad Rabiu, said within the short period of two years, Nigeria has recorded tangible and accelerated progress under President Tinubu.

    He pointed at the administration’s infrastructure rollout as evidence of the government’s commitment to innovation and national development.

    Read Also: NSE President hails Tinubu on infrastructure

    Deputy Speaker of the House of Representatives, Benjamin Kalu, noted that the Lekki Deep Sea Port is designed to generate over $201 billion in revenue for the federal and state governments and create more than 169,000 direct and indirect jobs.

    He highlighted the significance of the projects in connecting the country and fostering economic development.

    President Tinubu, who also toured the Dangote Refinery and Petrochemicals Complex in Lagos, said the pace of road construction and rehabilitation was aimed at boosting Nigeria’s long-term economic competitiveness.

    He acknowledged the initial challenges that come with construction projects but underscored the need to stay on the curve, keeping in mind the long-term benefits of the projects.

    He commended the Minister of Works, David Umahi and his team for their dedication to the projects.

    The President said: “It is also my pleasure to flag off the following projects for construction, to the glory of God Almighty: construction of section one, phase 1b, 120 kilometres of Sokoto-Badagry Superhighway in Sokoto State; construction of section 2, phase 2B, 258 kilometres of Sokoto-Badagry Superhighway in Kebbi State; construction of Lagos-Calabar Coastal Highway, section 2, 55 kilometers in Lagos-Ogun State; rehabilitation of Zaria-Kano, the entire road, sections 1, 2, and 3.

    “It is a great joy and honour to launch the 152-kilometre reconstruction of Ipua-Gamboru-Ngala Road, 49.55 kilometres in Borno State; completion of dualisation of Kano-Maiduguri Road, linking Kano, Jigawa, Bauchi, Yobe, Borno State, section 1, Kano-Wudil-Chayarin, total 100.95 kilometres; construction of Maiduguri Ring Road, 108 kilometres; construction of Kano Southern Bypass Road in Kano State, 74 kilometres; construction of Seventh Axis Road at Lekki Deep Sea Port, Lagos State, 35 kilometres by 6 lanes.

    “For the rehabilitation of Lokoja-Benin, only the pavement, section two, section four, with tax credits, Eko-Mabini, 53 kilometres; construction of the dualization of the Yoruguma Trail Road in Oyo State, 104 kilometres; dualisation of Kano-Daura-Kongoma Road in Kano, Jigawa, and Katsina State, 264 kilometres by Moa Tax Credit; reconstruction of Bama-Banki Road in Borno State, 49.15 kilometres by Dangote Tax Credit”.

    Umahi said there were plans to construct an underground tunnel as part of the infrastructure upgrade of the present administration.

    According to him, the undersea tunnel will connect the Lagos-Calabar Coastal Highway.

    He said: “The truth is that these four legacy projects of yours, Sokoto to Badagry, we are designing the link-up, which is 61 kilometres from Kwara in Badagry, through the Snake Island, going through 3.5 kilometres, and you are going to be the first African president to build a tunnel.

    “May you have the opportunity, because of your good hands, to make real all the visions you have for Lagos State and this country.”

    The Lekki Deep Sea Port access road, a reinforced concrete road, was constructed under the tax credit scheme between the government and Dangote Group.

    Dangote said President Tinubu’s policies – from fuel subsidy removal to the unification of the naira exchange rate and the Nigeria First policy- have reignited hope across the country.

    “Your leadership has been both decisive and reassuring. Your actions have reignited hope for a prosperous Nigeria of today and of the future.

    “From the very start of the administration, Your Excellency has worked tirelessly to foster an enabling environment for private sector-led growth,” Dangote said.

    He praised President Tinubu’s reform agenda, including the deregulation of the downstream petroleum sector, tax system overhaul, and the Presidential Compressed Natural Gas (CNG) Initiative.

    According to him, the anticipated impact of the reformed tax regime will prompt many to “run and come to Aso Rock” in gratitude.

    Rabiu said the President is driving Nigeria on the path of accelerated growth and development.

    He said: “Under your leadership, we have witnessed real and rapid progress. The Lagos-Calabar Coastal Highway is moving forward, the Sokoto-Badagry project is gaining traction.

    “Your Excellency, this progress is possible because of your commitment to innovation and continuity.”

    Kalu highlighted the significance of the road projects by the Tinubu government in connecting the country and fostering economic development.

    According to him, the Lekki Deep Sea Port concrete road is not just concrete and tar; it is the spine of economic transformation.

    He said: “This vital artery connects one of West Africa’s deepest and most advanced seaports to Nigeria’s logistics and industrial backbone, unlocking the potential of Africa’s largest oil refinery and repositioning Nigeria as a hub for global maritime trade.

    “With the capacity to handle 1.2 million TEUs annually in its first phase and up to 2.7 million TEUs as it scales, this port is not just a national asset; it is a continental gateway. Its ability to accommodate vessels of up to 18,000 TEUs marks a new era in our port capacity and trade competitiveness.

    “More than steel and scale, the port embodies strategy. It is expected to generate over $201 billion in revenue for the federal and state governments and create more than 169,000 direct and indirect jobs.

    “This is not conjecture; this is the blue economy in motion. A functioning, efficient, and automated deep-sea port like Lekki reduces port congestion, enhances turnaround time, and positions Nigeria to reclaim maritime business previously lost to neighbouring countries.

    “This is the infrastructure of vision, not only aligning with Nigeria’s Blue Economy strategy but also reinforcing our obligations under the African Continental Free Trade Area (AfCFTA).

    “This is how we build prosperity—one road, one port, one coordinated policy at a time.

    “These roads connect Borno to Lagos, Kano to the South-East, and Katsina to the Middle Belt. In a nation sometimes tugged by the currents of division, infrastructure is a glue that binds. A well-paved road is also a well-paved path to national cohesion.

    “Let us remember: Nigeria’s greatness is not in isolation of its regions but in their integration. When we invest in roads, we are investing in unity.

    “When we open up ports, we are opening up possibilities for every Nigerian child, regardless of whether they are from the north or the south.

    “Mr. President, thank you for your vision and people-centred leadership. To the ministers, thank you for execution. To the Nigerian people, these roads are yours; use them, protect them, own them.”

    The Deputy Speaker pledged the commitment of the House to supporting initiatives that uplift Nigerians’ livelihoods and strengthen the economy

    “As the People’s House, we have passed the highest infrastructure capital allocation in a decade.

    “Through the House Committees on Works, Appropriations, and National Planning, we have ensured oversight that promotes value for money.

    “Our recent legislative support for the Federal Roads Authority Bill and the National Infrastructure Development Fund is proof that we are committed to sustainability, not just ceremony.

    “Let future generations say that in our time, Nigeria moved not just physically, but purposefully, toward prosperity. Let the roads rise to meet us, and let our unity rise even higher,” Kalu said.

    Dignitaries at the event included Governors Dapo Abiodun (Ogun), Uba Sani (Kaduna), Peter Mbah (Enugu), Caleb Muftwang (Plateau) and Alex Otti (Abia).

    Minister of Marine and Blue Economy, Gboyega Oyetola; Chairman of the Federal Inland Revenue Services, Zach Adedeji; Chairman of Access Holdings, Aigboje Aig-Imoihkuede; and Chairman of Zenith Bank, Jim Ovia, were also present, among others.

  • Infrastructure, costs hinder rural access to telephony services

    Infrastructure, costs hinder rural access to telephony services

    Nearly three decades after the famous telecom revolution, several communities in both rural, urban and semi urban areas of the country have remained disenfranchised.

    Yet rural telephony is crucial for bridging the communication gap between urban and rural areas in Nigeria and share in the prosperity of digitalisation.

    Despite its importance, many rural communities face significant challenges in accessing reliable and affordable telephone services due to inadequate infrastructure and high costs.

    Minister of Communications, Innovation and Digital Economy, Dr Bosun Tijani said 30 million Nigerians are still without basic telephony services.

    The Federal Government has ambitious targets which include the training of 3million technical talents by 2027; broadband penetration rate increase to 70 per cent by 2025; provide coverage for at least 80 per cent of the population, especially the underserved and underserved populations; increase net GDP contribution of the telecom sector to 22 per cent of GDP by 2027; and increase investment into telecom by 15per cent year-on-year.

    According to the founding Partner, INFRATEL Africa, Dr Tola Yusuf, a RuralCo, there is a yawning gap of about 61per cent of unconnected Nigerians in rural areas. This gap the Federal Government intends to narrow down to less than 20 per cent by 2027.

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    He identified availability, accessibility and affordability as the three questions to be answered in addressing the rural-urban telecom service problems in the country.

    The lack of investment in rural infrastructure hinders the expansion of telephony services. Insecurity and natural disasters further complicate these efforts.

    Power outages are common, making it difficult to maintain telephony services. Innovative solutions like off-grid power systems are however being explored.

    Tijani said the Federal Government plans to close the gap by building base transceiver stations (BTS) in unserved areas.

    This is coming at a time the telcos unburdened themselves in BTS management transferring such to TowerCos such as IHS.

    Minister Tijani said President Bola Tinubu’s Executive Order classifying telecom infrastructure as critical national infrastructure will address the challenges of stealing and wilful vandalism of telecom infrastructure when operationalised.

    Nigeria’s Universal Service Provision Fund (USPF) plans to deploy 1 000 new cellular base stations across the country’s rural areas, by 2030.

    Base stations are critical for enabling wireless communication, and the successful completion of this initiative will improve telecom access in underserved areas, which aligns with global efforts to improve rural connectivity.

    USPF Secretary, Yomi Arowosafe commended the International Telecommunication Union (ITU) and the UK Foreign, Commonwealth, and Development Office (FCDO) for their collaboration on this initiative.

    He highlighted the importance of public-private partnerships to achieve universal broadband access, a goal requiring $400 billion globally by 2030, as highlighted by the World Bank.

    The World Bank, supporting this stance had noted that “achieving universal broadband access will require over $400 billion by 2030, and neither the public nor the private sector can do this alone.

    Governments needed to make bold reforms, and the private sector can reduce costs and risks and increase efficiency and innovation.”

    This move complemented the Federal Government’s plans 7000 new BTS.

    Arowosafe also hinted on partnerships with Original Equipment Manufacturers (OEMs)  on affordable mobile devices, which will further help to bridge the digital divide.

    Arowosafe said that Nigeria has reduced its connectivity gap by 57.97per cent since 2013, benefiting 13.8 million people.

    Telecom industry group, Association of Telecom Companies of Nigeria (ATCON) have welcome the initiatives to close the digital gap.

    Its President, Mr. Tony Emoekpere, said the success or failure of the initiative will depend on the approach.  Is it going to be public or private sector-led?

    He said the BTS initiative has to be done in partnership with existing operators and new players. The government, he argued, has to come out and get suggestions from the private sector to make it work. It’s not enough to just come out with some of these plans without a robust implementation framework.

    Tijani and Arowosafe must have realized that traditional business models often fail to prioritize rural areas because of the hopelessness in getting back return on investment (RoI), leaving many without access to affordable services.

    Initiatives such as PPPs are crucial. Collaborations between government and private entities can help fund and implement rural telephony projects.

    Innovative technologies can also help. The use of satellite and wireless technologies can provide cost-effective solutions for rural connectivity. An entity such as government owned satellite company, NIGCOMSAT can fill the gap, according industry sources.

    Community engagement is also vital as engaging local communities in the planning and management of telephony services can ensure sustainability and relevance to local needs

    Undoubtedly, according to ATCIS-Nigeria, improved telephony can enhance economic opportunities, access to education and healthcare, social connectivity and economic empowerment to the masses.

    Therefor, continued investment in rural telephony is essential for sustainable development and bridging the urban-rural divide across the country.

  • ‘Infrastructure, others challenge businesses’

    ‘Infrastructure, others challenge businesses’

    Macro-economic headwinds, competition from imported goods and supply chain disruptions are the challenges besetting the local furniture industry, Vava Furniture Nigeria Limited has said.

    Its founder, Michael Tawadrous, said like many other businesses operating in the country, the company has had to contend with imported furniture, a development that has stalled the growth and expansion of the local market.

    Tawadrous, who is an Egyptian entrepreneur and forunder, VAVA Group which also includes Vava Products LLC U.S.A and Globe Pharmaceutical Cosmetics Nigeria, said the company has contended with infrastructure limitation as it focused on the local market.

    “Like many manufacturers in Nigeria, Tawadrous and his company have faced challenges, including fluctuating economic conditions and market competition from imported goods.

    Vava Furniture’s focus on local production has had to contend with infrastructure limitations and supply chain issues, which can affect production timelines and costs,” he said.

    Tawadrous has navigated these challenges by investing in local talent and sourcing materials from within the country. He has also emphasized the importance of adapting to local market demands, a key factor in the company’s ability to maintain its market presence and leadership.

    He has however lauded the efforts of the Federal Government to resuscitate the economy through support for local manufacturing policies, including the Federal Government’s ban on certain imports. He said the ban has helped bolster the domestic furniture industry.

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    However, this stance has generated varying opinions, with some praising the policy for supporting local manufacturers and others pointing to potential drawbacks, such as limited consumer choice and higher production costs.

    He recalled that his journey started in 2007 when he was invited to manage a furniture company in Lagos. After some time, he decided to establish his own venture, Vava Furniture, which focuses on producing affordable, locally manufactured furniture. The company is recognized for its emphasis on producing furniture domestically, reducing reliance on imported products.

    In addition to his business activities, Tawadrous has been involved in philanthropic efforts, particularly during the COVID-19 pandemic, when his company donated food items to support residents in Lagos. He also holds a position as a special envoy for the World Fund for Development and Planning (WFDP), contributing to initiatives focused on sustainable development and education.

    While these efforts have been well-received in some quarters, they are viewed by others as part of a broader strategy for enhancing corporate social responsibility within the region.

    Tawadrous remains a prominent figure in Nigeria’s furniture industry, where his company, Vava Furniture, plays a notable role in promoting local manufacturing. His approach, which advocates for local production and government policies that support this, has positioned him as a key voice in the sector.

    Tawadrous’ contributions to both business and philanthropy continue to shape his public image, though opinions on his impact and methods vary. His ongoing involvement in Nigeria’s furniture sector and wider business activities will likely continue to influence the industry in the coming years.

  • Infrastructure: Nigeria may miss 70 per cent broadband target

    Infrastructure: Nigeria may miss 70 per cent broadband target

    Demise of infrastructure companies (InfraCos), lack of commitment by some of the various government agencies tasked with driving the National Broadband Plan (NBP 2020-2025), delays in project approvals, asphyxiating tax regime and others may derail the ambitious targets of the plan, it was gathered at the weekend.

    As a result of these myriad of challenges, Nigeria’s broadband penetration rate has declined, casting doubt on the nation’s ability to achieve its ambitious 70 per cent national target.

    According to stats, Nigeria’s broadband penetration rate dipped to 41.56per cent in September 2023. This marks a significant setback from the 43.71per cent recorded at the end of 2023.

    The decline in mobile broadband subscriptions may be linked to the mandatory subscriber identity module (SIM) card and National Identity Number (NIN) linkage process that snapped millions of active subscriber numbers.

    The InfraCo project which was designed to bridge the huge infrastructure deficit between metro and rural areas have gone moribund, no thanks to the same factors that have stalled the growth of investment.

    Particularly are factors such as high cost of right of way (RoW), affordability issues and slow 4G adoption. This is despite the government’s push for 5G, a significant portion of the population is still relying on slower 2G and 3G networks.

    Meanwhile, to address these challenges and accelerate broadband penetration, the Nigerian government has initiated several measures: they include project 774 LG connectivity aims to connect all 774 Local Government Areas to the internet, expanding digital access.

    Also, Special Purpose Vehicle (SPV), which the government plans to establish to deploy an additional 90,000km of fiber optic cable, significantly boosting the country’s connectivity infrastructure.

    Read Also: Infrastructure renewal firm, LASU, others partner to deliver hostels

    Overcoming infrastructure hurdles, reducing costs, and promoting digital literacy will be essential to unlocking the full potential of broadband connectivity in Nigeria.

    There is however light at the end of tunnel as the World Bank has okayed cash support to Nigeria’s 90,000 km fiber-optic project, which aims to expand the country’s digital infrastructure.

    The project will increase Nigeria’s fiber network from 35,000 km to 125,000 km, making it the third-longest terrestrial fiber optic backbone in Africa. The project will also connect over 200,000 educational, healthcare, and social institutions.

    The global lender is a funding partner for the project, along with other financiers. The Federal Government and the World Bank are also collaborating to raise $3 billion for the project expected to begin within 18 months.

    The project is expected to create opportunities by stimulating a more vibrant digital ecosystem. It will also ensure that more citizens can connect to the benefits of the digital economy.

  • Ekiti, Chinese firms sign MoU on energy, infrastructure, agric development

    Ekiti, Chinese firms sign MoU on energy, infrastructure, agric development

    The Ekiti State Government has entered a Cooperation Framework Agreement with the China Association of Small and Medium Enterprises Working Committee for Overseas Cooperation and the Belt and Road Africa Economic Promotion Initiative Centre. 

    The agreement aimed to drive significant investments in the state across various sectors, including infrastructure, energy, agriculture, technology and aviation was signed by Governor Biodun Oyebanji on behalf of the state government

    Speaking at the ceremony in Ado-Ekiti, the Ekiti state capital, Governor Oyebanji described the partnership as historic, adding that CASME comprising over 20,000 member companies, would facilitate infrastructures development, including agricultural parks, new energy power facilities and smart parks.

    The governor, who was represented by the Secretary to the State Government, Dr. Habibat Adubiaro, highlighted that projects under the agreement including the overall planning and construction of agricultural parks and energy facilities by Sinomec-He Chengdu Heavy Machinery Co. Ltd (CDHMC).

    Read Also: Tinubu’s govt will guarantee better future, says Akpabio

    Others were smart park development by the IT Electronics Eleventh Design & Research Institute Scientific and Technological Engineering Corporation Limited (EDRI), and civil aviation aircraft production and services by Aloong Aircraft (Jingmen) Company Limited (ALAC).

    Oyebanji explained that the partnership would enhance the state’s economy as well as provide job opportunities for the youths. 

    The Commissioner for Trade, Industry and Investment, Mrs. Omotayo Adeola, emphasized the importance of the MoU, noting that the Chinese partners were committed to sourcing investors who will bring their own resources to the projects.

    “This is their second visit to Ekiti. They first came in July, assessed our infrastructural and investment need and have since identified companies interested in investing here,” she explained.

    The Chairman of BRAEPIC, Prince Innocent Okonkwo noted that the initiative serves as an economic bridge between China and Nigeria and promised to attract more investors to Ekiti, adding that the delegation included companies from the information technology, air transportation and mining sectors.

    Prince Okonkwo further revealed that the companies plan to establish an aircraft maintenance and manufacturing facilities in Ekiti International Cargo Airport, leverage the agro-processing zone for agricultural development and create a logistics hub due to Ekiti’s strategic location between Lagos and Abuja.

    He stated that Ekiti State offers a conducive environment and favourable conditions for investment, positioning it as an attractive destination for global investors.

    Present at the event were the Attorney General of the State and Commissioner for Justice, Dr. Dayo Apata (SAN), Commissioner for Budget, Mr. Oyeniyi Adebayo, Commissioner for Education, Dr. Adebimpe Aderiye, Commissioner for Infrastructure and Public Utility, Prof. Mobolaji Aluko. 

    Others include the Commissioner for Agriculture, Mr. Ebenezer Aboluwade, Mr. Leo He, representative of ALAC, Mr. Liang Abraham, representative of EDRI, Mr. Zhou Rin, amongst others.

  • Ensuring safety of public infrastructure in Lagos

    Ensuring safety of public infrastructure in Lagos

    • By Abisoye Ogunjobi

    Infrastructure development is critical to achieving human capital development in any society. The economic impact that infrastructure improvement has on nation-building cannot be over-emphasized.  The growth of any country’s economy hugely depends on the status of its infrastructure.

     The dearth of needed infrastructure in a given society places serious limitations on human capital development.  This is why the advanced nations of the world commit huge investments to infrastructure development.

     J.F. Kennedy, a former President of the United States of America, USA, once put the relationship between infrastructure development and economic prosperity into a proper perspective when he affirmed that: “America has good roads, not because America is rich, but America is rich because it has good roads”.

     Across the world, the provision of crucial services is still far below the required expectations, as almost 1.6 billion people have no access to power, 1.2 billion people lack access to safe and potable drinking water and 2.4 billion are faced with the challenge of insufficient medical facilities. Ironically, the infrastructure budget of many developing countries is dwindling.

    According to the World Bank, every 1% of government funds spent on infrastructure leads to an equivalent 1% increase in Gross Domestic Product (GDP), which invariably means that there is a correlation between any meaningful inputs in infrastructure development which reflects on economic growth, and indices.

    Hence, the value of infrastructure cannot be underplayed. Infrastructure development has in recent times assumed a pride of place in Nigeria’s drive to achieve social and economic progress. Consequently, governments across the country are placing a high premium on infrastructure as the central point of their administrations.

    It is because of this that the Lagos State government set out to invest N550.689bn to develop and maintain its infrastructure in 2024. According to the State’s  Commissioner for Economic Planning and Budget, Ope George the total amount of N550.689bn budgeted for infrastructure represents 24.28% of the entire budget and is part of the ₦1.315trn Capital Budget for the year.

    While highlighting some of the infrastructure targeted with the budget, the commissioner said there will be the continuation of ongoing transportation projects, such as the expansion of the rail network, road construction, and completion of the Blue/Red Line and other metro projects within the state.

    George said the budget will also address the development of affordable housing schemes and urban renewal projects in improving the housing deficit in the state by injecting a total of N55.924bn representing 2.5% of the entire budget.

    He listed some of the social housing projects including the completion of 444 units of building projects at Sangotedo Phase ll, the completion of 420 units of building projects at Ajara, Badagry Phase ll and the construction of 136 units of building projects at Ibeshe ll, among others.

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    According to him, there will also be a focus on some special projects, and continuous progress on major infrastructure projects like the Lekki-Epe International Airport, the Omu Creek, and Blue and Red Rail Lines, stressing that most of these projects would be prioritized.

    The budget, the commissioner said, was also designed to ensure the completion of the front-loaded and ongoing infrastructure like Massey, Omu Creek, Opebi-Mende Link Bridge, Stadia, SCRPS, Lekki-Epe, Lagos Badagry Express, etc., as well as the commencement of the Fourth Mainland Bridge that will connect Ikorodu to the Island.

    The implication of the foregoing is that the state government is investing massively in infrastructure development for obvious reasons. It is, however, important that Lagosians take ownership of this laudable project by ensuring that they are not vandalized.

    Over the years, it has been discovered that one of the banes to infrastructure development in the metropolis is the vandalisation of public infrastructure. Lack of civic sense is widespread in our society. People urinate and defecate in public places with reckless abandon. They vandalize and steal public property with impunity. They damage road medians as if to prove that it is not needed.

    Blockage of drainage systems with refuse when it rains is also a common phenomenon. Similarly, excavation is done indiscriminately and carelessly on the road. The list of anti-social and unpatriotic attitudes of our people is endless.

    Yet, we blame the government whenever the consequences of our actions stare us in the face.

    What is, perhaps, even more intriguing is that it is often the same people who perpetrate or keep silent when public property is vandalized or stolen that are quick to condemn the government whenever the effect of their conduct bounce back on them.

    Shouldn’t it be clear to everybody when public light cables are vandalized that long days of darkness have been courted? What do we expect when in contravention of environmental law we build structures on drainage channels and indiscriminately dump refuse inside street drains if not flood? It is perhaps a tragedy that we allow our lack of civic sense to harm ourselves.

    One major way to safeguard public infrastructure is for everyone to be vigilant and report vandals to police or community leaders for punitive measure(s) to be meted on culprits. It is only when everyone realizes that public infrastructure is meant to serve the public interest that the trend of vandalisation could be reasonably contained.

    Under whatever guise, no one has any right to damage, steal, or buy public property.

    Steel companies in the state have been fingered as buyers of this vital property from hoodlums’ in the name of excavators. Painfully, buying and selling vandalized property is usually at a ridiculous price while the effect is at an exorbitant price.

    A state like Lagos, which has many needs to use its scarce resources can ill afford to waste such resources on replacing vandalized property by the same citizens it is working hard to serve.

    •Ogunjobi is an intern with the Features Unit, Ministry of Information & Strategy, Alausa, Ikeja, Lagos.

  • N200b infrastructure fund targets key sectors for investments

    N200b infrastructure fund targets key sectors for investments

    • Manufacturing, telcos, powers, agric, others to benefit

    The successful launch of the N200 billion AVA Infrastructure Fund will channel amenable capital to development of infrastructure across key sectors of the Nigerian economy as part of private sector’s efforts at bridging the country’s infrastructure gap.

    AVA Global Asset Managers Limited at the weekend commemorated the listing of the first tranche of issuances under its N200 billion infrastructure fund with the ceremonial ringing of closing gong at the Nigerian Exchange.

    NGX had listed N4.075 billion AVA Infrastructure Series 1 Fund on its trading platform. A total of 4,075 units were listed on the main board of NGX at N1 million each as a closed-end Fund and naira-denominated unit trust scheme.

    Managing Director, AVA Global Asset Managers Limited, Efe Shaire, said the successful launch and listing of the fund marked a pivotal moment as the fund seeks to address Nigeria’s significant infrastructure deficit through strategic and impactful investment.

    He said the company remains committed to supporting Nigeria’s socio-economic development.

    “This listing is a significant milestone for our organisation as well as a testament to the AVA Capital Group’s collective belief in the promise of Nigeria’s infrastructure development and the impact long-term private sector capital can have in driving productivity gains and sustainable economic growth,” Shaire said.

    According to him,  AVA Infrastructure Fund opens up new opportunities for collaboration and growth and allows companies to tap into the deep pool of capital available within the Nigerian market while providing investors with access to a well-structured, transparent, and professionally managed investment vehicle focused on infrastructure project financing.

    Recent reports, including PwC’s 2024 Economic Outlook, highlight Nigeria’s infrastructure deficit, with the allocated spending of N1.32 trillion falling short of the World Bank’s 70 per cent infrastructure-to-GDP recommendation. Nigeria currently stands at 30 per cent.

    “The AVA Infrastructure Fund is designed to bridge that gap by investing in critical sectors essential for economic growth,” Shaire said.

    He outlined that the fund seeks to address the infrastructure deficit in Nigeria through provision of institutional capital into suitable projects across Nigeria.

    According to him, the beneficiary sectors would include power, telecommunication, gas distribution, storage and processing, transport, urban and social infrastructure, utilities, agribusiness, and supporting infrastructure.

    “The overall objective of the fund is to spur socio-economic impact in Nigeria. The AVA Infrastructure Fund is poised to contribute to the growth of Nigeria’s manufacturing sector, which will work together to achieve Nigeria’s diversification objectives while making profits for all investors,” Shaire said.

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    He added that the fund would achieve its objectives of providing unit holders with competitive returns on their investment by investing in de-risked infrastructure or infrastructure-related projects in Nigeria.

    He explained that aside from investing in the target sectors, the fund will also in invest in senior-debt facilities, securitised debt instruments of infrastructure companies or special purpose vehicles (SPVs) aimed at facilitating the financing of infrastructure projects, preference shares, convertibles, and mezzanine instruments.

    He assured that AVA Infrastructure Fund is poised to take advantage of this inherent gap in Nigeria’s infrastructure, which will help improve the infrastructure deficit in Nigeria considering the current infrastructure dearth in the country and the dire need to improve the lives of the citizenry.

    According to him, by focusing on sustainable and impactful investments, the infrastructure fund aims to create lasting value for investors while contributing to the nation’s economic growth.

    “This fund aligns with the federal government’s objectives of closing the infrastructure gap and driving long-term economic development. The N200 billion Programme underscores AVA’s commitment to playing a central role in the transformation of Nigeria’s infrastructure landscape,” Shaire said.

    Chief Executive Officer, Nigerian Exchange (NGX), Mr. Jude Chiemeka, commended AVA Global Asset Managers for its commitment to enhancing the infrastructure sector and increasing investment opportunities.

    He said the successful launch of the fund highlighted the impact of strategic investments in fostering economic growth and innovation.

    Vice Chairman, AVA Global Asset Managers, Kayode Fadahunsi, assured on the sustainability of the fund.

    “We are committed to upholding the highest standards of transparency, governance and sustainability. The AVA Infrastructure Fund will not only seek returns for investors but will ensure that every investment decision is guided by principles that promote environmental stewardship, social responsibility, and economic inclusivity,” Fadahunsi said.

  • Nigeria requires $5b to fix infrastructure in 24 airports

    Nigeria requires $5b to fix infrastructure in 24 airports

    …targets $30trl to modernise facilities in next three decades

    Nigeria will require over $5 billion investment to fix air cargo infrastructure in at least 24 of its airports nationwide to position it as one major player in the air cargo/ freight, courier, logistics, and agro-allied value chain, the managing director/chief executive officer of red star express Plc, Auwalu Badamosi Babura has disclosed.

    Babura, who disclosed this in an interview with The Nation, in Lagos said without sufficient investment and intentional policy to drive the growth of air cargo in Nigeria, the expected gains from the eco-system would not be achieved.

    While calling for advocacy by industry players to impress on the government to create a more enabling environment for the value chain to thrive, Babura said some intensive intervention, including an estimated $30 trillion lifeline to modernize economic infrastructure in the next three decades remains key in unlocking the huge potential in air cargo business.

    Besides the huge capital injection, which could be leveraged through private sector participation, Babura said the federal government must take urgent steps to address lingering challenges affecting the growth and development of air cargo.

    He listed them to include: fluctuations in aviation fuel price, regulatory bottlenecks with bilateral air services agreement with the United Kingdom and the United Arab Emirates as well as high cost of ground handling equipment.

    He listed other constraints including poor airport infrastructure and absence of economies of scale, extremely high insurance premiums, high taxes and cost of operations, and other factors.

    Babura canvassed the re-negotiation of bilateral pacts with the United Kingdom, and United Arab Emirates’ airports/ terminals for Nigerian airlines.

    He said: “Air cargo could be a major contributor to Nigeria’s gross domestic product, with the total air freight forwarding business/market projected to reach $178 billion by the end of 2024. This is hinged on the fact that Nigeria’s GDP recovery depends on air cargo development.

    “For this to happen, the federal government through the Central Bank of Nigeria (CBN), must initiate a policy to support freight forwarders involved in export have access to foreign exchange for international settlement of partners.

    “Subsidies should be given to airlines and cargo handlers who do not have enough foreign exchange liquidity in their asset base to safeguard jobs and investment as well as explore opportunities for tax reductions.”

    On other measures to be taken by the government, Babura said: “The federal government should develop and deepen specialized temperature control storage and processing warehouses for pharmaceuticals and agro-perishable.

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    “Nigeria’s air freight market can scale through electronic commerce, cross-border shipping, and direct currency settlement by applying no duties for small items.

    “As of 2018, Lagos International Airport remains the largest in terms of freight kilometres. There remains an urgent need to deepen cargo traffic across other cargo passenger airports.”

    The Red Star Express boss said if the government fixes some of the listed challenges, Nigeria is projected to reach over 19 million tonnes kilometres of air cargo by 2025 with adjustments expected from the impact of COVID-19.

    But, to take Nigeria to the projected level of growth, the government, Babura insisted, must take urgent steps to re-write the narrative, in fixing the convenience of airport operations which still puts it in poor rating as sixty-eight out of over 150 nations in the air trade facilitation index.

    He said: “We must make frantic efforts to improve from the poor rating of number thirty-sixth among 135 nations in the electronic freight friendliness index. Work hard enough, to step higher from the current rating of number 127th among 136 nations in the enabling trade index.”

  • ‘My govt deploying resources to strengthen infrastructure’

    ‘My govt deploying resources to strengthen infrastructure’

    Kwara State Governor AbdulRahman AbdulRazaq yesterday paid visits to inspect projects and touch base with community folks in Asa Local Government.

    The visits took him to the under-renovation Afon General Hospital, Afon Waterworks, under-renovation Primary Health Centre (PHC) and Eiyenkorin Afon Offa Odo Otin Road.

    Speaking at the home of Daudu Afon, Alhaji Hanafi Balogun at Afon, the governor said his administration continues to deploy resources to strengthen existing infrastructure and build new ones for the good of the people.

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    He told the Daudu that the visit was to enable him touch base with the realities at the grassroots, especially to see the ongoing works in Afon and other parts of the local government.

    The governor’s tour coincided with the visit of members of the State Drug Control Committee, led by Barakat Olarewaju, a pharmacist, who are on a statewide anti-drug abuse campaign to check the prevalence of drug abuse in the state.