Experts put Nigeria's infrastructure gap at $3trn
By Aviashima Toom, Abuja Research experts have estimated Nigeria's infrastructure gap at $3 trillion, about six times the size of its annual Gross Domestic Product, GDP. Speaking during a virtual meeting on institutionalisation of R&D in Infrastructure Development thematic group of the TETFund Research and Development Standing Committee, RDSC, they stressed the importance of infrastructural development to economic growth. A lecturer at Ahmadu Bello University, Zaria, Prof Muhammed Usman, in a presentation, said between 2009 and 2013, Nigeria invested a paltry $664 per capita per anum in infrastructure, representing 3 per cent of its GDP, compared with an average investment of $3.060, or 5 per cent of GDP in developed countries. Usman noted that this has widened the country's infrastructure gap and has been a major impediment to economic growth. He noted that this "poses a major funding challenge in the face of the current fiscal imbalances. Besides, the c...