Government Needs to Spend 65Billion Dollars Annually to Achieve Infrastructure Target – Imoke

In Breaking News, National News, Reports
Mr. Bruno Carrilho, Mr. Fidelis Ugbo-Rep. Minister of National Planning Commission, Rep. of Senator Imoke, Deputy Governor of Cross River State, Mr. Efiok Cobham, Mr. Ndem Ayara- Ndiyo, Economic Adviser to Imoke and Engr. Olugbenga Adegun, Director, Infrastructure-NPC at the Zonal Validation Workshop on the draft National Integrated Infrastructure Master Plan( NIIMP) in Calabar.
Mr. Bruno Carrilho, Mr. Fidelis Ugbo-Rep. Minister of National Planning Commission, Rep. of Senator Imoke, Deputy Governor of Cross River State, Mr. Efiok Cobham, Mr. Ndem Ayara- Ndiyo, Economic Adviser to Imoke and Engr. Olugbenga Adegun, Director, Infrastructure-NPC at the Zonal Validation Workshop on the draft National Integrated Infrastructure Master Plan( NIIMP) in Calabar.

by crossriverwatch admin

Cross River State Governor, Senator Liyel Imoke, has said that government will need to spend at least 65billion Dollars annually to achieve the infrastructure master plan target for the South South States.

The Governor who made this revelation in Calabar during the week while delivering a keynote speech to declare open a Zonal Validation workshop on Integrated Infrastructure Master plan for South South states said it is important that the master plan be functional since it aims at raising Nigeria’s infrastructure stock from its present 40% of the GDP to 70% of the GDP by 2043. “This will, require a huge investment and also implies that infrastructure spend would have to increase rapidly from the less than 3-5% of the GDP to an average of 9% over the 30 year period with an estimated 2% of the GDP spent on maintenance of infrastructure”.

The Governor who was represented by his deputy, Barrister Efiok Cobham reasoned that to achieve the target, the country needs to spend about 65 billion dollars annually in the next five years of public sector funds and also requires a significant input of private sector funds to meet the expected target. ‘This implies that the states vis-à-vis the six geopolitical zones have different starting points in line with their economic potentials and priorities of each zone so each zone needs to do its best to maximize it benefits from the master plan”.

Imoke said the state governors were given the opportunity to make inputs into the master plan be nominating representatives to the eleven technical committees set up for the purpose of working out the master plan and expressed confidence that the efforts of the state went far enough in contributing towards making the plan.

Dr. Shamsudeen Usman, the Minister for National Planning said at the occasion that an ambitious master plan for the improvement of the nation’s integrated infrastructure from its present 40% to 70% in the next thirty years, expected to cost USD 2.9 trillion is being validated by the National Planning Commission. He added that the master plan which has a time span of between 2013 to 2043 is aimed at accelerating infrastructural development in the country within the period.

“It goes without saying that the current infrastructural stock in the country is inadequate in meeting and supporting the economic activities of our ever increasing population therefore the master plan focuses on core infrastructure development including energy (power, oil and gas), transport, (roads, rails, ports and airports), housing, water and ICT”.

Dr. Usman who was represented by Barrister Fidelis Ugbo, the Secretary of the National Planning Commission said the economy cannot grow at the required rate, create jobs and reduce poverty to an appreciable level because of decrepit and inadequate infrastructure both at the national and state levels thus the need to significantly improve on it. “The implications for expanding demographic imbalance are grave with teeming youth population which is not economically engaged and commercially active with the current state of infrastructure”.

Dr. Olugbenga Adegun, the Director, Infrastructure of the National Planning Commission who presented the draft of the master plan said the frame work for the master plan was approved by the Federal Executive Council on 21st November 2012 and the project development structure for the master plan inaugurated on 31st January 2013.

He listed the expected benefits from the master plan to include efficient allocation of resources, robust framework for infrastructural, development and enhanced economic growth.

follow us on twitter @crossriverwatch

Since You Are Here, Support Good Journalism


CrossRiverWatch was founded on the ideals of deploying tech tools to report in an ethical manner, news, views and analysis with a narrative that ensures transparency in governance, a good society and an accountable democracy.

Everyone appreciates good journalism but it costs a lot of money. Nonetheless, it cannot be sacrificed on the altar of news commercialisation.

Consider making a modest contribution to support CrossRiverWatch's journalism of credibility and integrity in order to ensure that all have continuous free access to our noble endeavor.

CLICK HERE

New Feature: Don't miss any of our news again.Get all our articles in your facebook chat box.Click the Facebook Messenger Icon below to subscribe now

Text Advert by CRWatch :Place Yours

Will You To Learn How To Make Millions Of Naira Making Special Creams From Your Kitchen?.Click Here


Expose Your Business And Make More Sales. Advertise On CrossRiverWatch.com Today

You may also read!

#Calabar: Ayade Relaxes Curfew From 6 To 6

By Patrick Obia Governor Ben Ayade of Cross River State has relaxed the curfew imposed seven days ago to

Read More...

Most Hoods That Vandalized Properties In Calabar Are Akwa Ibomites – Police (VIDEO)

By Archibong Jeremiah The Nigeria Police Force, Cross River State Command has disclosed that, most of the hoodlums that

Read More...

#Calabar: ACROJ Condemns Arson, Pledges Media Support In Restoring Calm

By Patrick Obia Association of Cross River Online Journalists (ACROJ) has condemned in totality Friday and Saturday’s mass looting

Read More...

One commentOn Government Needs to Spend 65Billion Dollars Annually to Achieve Infrastructure Target – Imoke

  • You should still let quality rule.You may decide to apply Sun Tanner Lotion using your hands or the sprays. The Cubs’ second baseman, Johnny Evers later claimed to have alertly retrieved the ball and tagged second base. The key to utilize it for team building is for you to shuffle up your employees and form teams. You may think that doing Feng-Shui takes too much time, but creating open space in your world actually frees up more time Black Friday Mike Webster Jersey and energy to attract the people and opportunities that will really satisfy your heart and soul. This usually happens when you can refinance Black Friday Jack Lambert Jersey or sell the property faster than anticipated. The formulation is usually milder to prevent irritation, allowing those with delicate skin to achieve a healthy glow without worries. Forget basic utility for personal use, the world is now at a stage where every business is driven Black Friday Hines Ward Jersey by the basics of internet marketing and not only that, today we are at a point where if you are not online you are probably not where your buyers and sellers are. This will be attached to the contract and explicitly state what change is made and what is expected. For us women, finding that perfect pair of jeans – you know, the ones that effortlessly make us look hot, and like we didn’t have to try at all to make it happen – seems like an impossible conundrum. Studies also demonstrate that youngsters with autism undergoing routine CST can produce more a feeling of trust thereby leading to consistent eye contact. The operators must also study the equipments recommendations and instruction book. If you need to take part in truck games or perhaps try out at enjoying a number of the newest driving test games then please be at liberty to click on on both of these games links.

Leave a reply:

Your email address will not be published.

Mobile Sliding Menu

Share this now