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Nigeria Needs $1.5trillion To Bridge Infrastructure Gap – Buhari

Published

4 years ago

November 2, 2021

President Muhammadu Buhari says 1.5 trillion dollars is the cumulative estimated amount needed by Nigeria over a ten-year period, to achieve an appreciable level of the National Infrastructure Stock.

A statement by Garba Shehu, Senior Special Assistant to the President on Media and Publicity said Buhari gave the figure on Tuesday in Glasgow at a COP 26 high-level side event on improving global infrastructure hosted by President Joe Biden of the United States, EU Commission President, Von Der Leyen and the UK Prime Minister, Boris Johnson.

‘‘Nigeria is ready for your investments in infrastructural development in the country.

‘‘My administration has established a clear legal and regulatory framework for private financing of infrastructure to establish a standard process, especially on the monitoring and evaluation process.

‘‘We look forward to working with you in this regard,’’ he told world leaders at the high level meeting on the margins of the climate change conference.

The statement added that Buhari also declared that his administration had taken infrastructure expansion in Nigeria seriously, conscious of the fact that new investments in critical sectors of the economy would aid lifting 100 million Nigerians from poverty by 2030.

‘‘There is a nexus between infrastructural development and the overall economic development of a nation.

‘‘My administration identified this early enough as a major enabler of sustainable economic development and the realization of other continental and global development aspirations particularly the 2030 Agenda for Sustainable Development Goals.

‘‘On my assumption of office in 2015, Nigeria faced a huge infrastructure deficit and the total National Infrastructure Stock was estimated at 35% of our Gross Domestic Product.

‘‘In solving these problems, we embarked on a massive infrastructure expansion programme in the areas of Health care, Education, Transportation, Manufacturing, Energy, Housing, Agriculture, and Water Resources.

‘‘We provided more financial resources for these policies, charted new international partnerships and pursued liberalization policies to allow private sector participation.

‘‘We introduced the revised National Integrated Infrastructure Master Plan – a policy document that ensures our infrastructure expansion projects is cross-sectorally integrated and environmentally friendly, ’’ he said.

According to the statement, the President welcomed the G7 countries for its ground-breaking plan to mobilize hundreds of billions of dollars of infrastructure investment for low – and middle-income countries.

The statement added that, he noted that the “Build Back Better World” plan, an initiative of the G7 countries, is expected to be a values-driven, high-standard, and transparent infrastructure partnership.

‘‘It is our fervent hope and expectations that this plan will be pursued to its logical conclusion in order to bridge the infrastructural gap between the North and South,’’ he said.

The President was said to have also used the occasion to outline the principles, values and standards Nigeria would like to see from infrastructure initiatives and the challenges the country has faced in partnering with donors on infrastructure development.

‘‘The aim of pursuing quality infrastructure investment is to maximize the positive economic, environmental, social, and development impact of infrastructure and create a virtuous circle of economic activities, while ensuring sound public finances.

‘‘This virtuous circle can take various forms in stimulating the economy,” he said.

The Nigerian leader noted that infrastructure investment should, therefore, take into account economic, environmental and social, and governance aspects, guided by a sense of shared, long-term responsibility for the planet, consistent with the 2030 Agenda for Sustainable Development.

The President added that the positive and negative impacts of infrastructure projects on ecosystems, biodiversity, climate, weather and the use of resources should be internalized by incorporating these environmental considerations over the entire process of infrastructure investment.

‘‘Domestic resource mobilization is critical to addressing the infrastructure financing gap. Assistance for capacity building, including for project preparation, should be provided to developing countries with the participation of international organizations.

‘‘Quality infrastructure investment also needs to be tailored to individual country conditions and consistent with local laws and regulations.

‘‘Furthermore, Infrastructure projects should align with national strategies and nationally determined contributions for those countries determined to implement them, and with transitioning to long-term low emissions strategies, while being mindful of country circumstances,’’ he said.

The statement disclosed that the President also called for the environmental impact of infrastructure investment to be made transparent to all stakeholders, noting that this will enhance the appreciation of sustainable infrastructure projects and increase awareness of related risks.

Headline

Turkish President, Erdogan Calls Putin, Accused Israel Of Threatening Regional Security

Published

3 hours ago

June 16, 2025

Editor

…says “lawless attitude” of Netanyahu’s govt “poses threat to international system

Turkish President Recep Tayyip Erdogan accused Israel of threatening security in the Middle East during a phone call with Russian counterpart Vladimir Putin on Monday, his office said.

“The spiral of violence that began with Israel’s attacks on Iran has put the security of the entire region at risk,” Erdogan was quoted as saying.

His office said he told Putin that the “lawless attitude” of Israeli Prime Minister Benjamin Netanyahu’s government “poses a clear threat to the international system”, adding that the Middle East “cannot tolerate a new war”.

The Kremlin said Putin and Erdogan used the conversation to call for an “immediate” end to fighting between Israel and Iran.

“The leaders called for an immediate end to hostilities and the settlement of contentious issues, including those related to Iran’s nuclear programme, exclusively through political and diplomatic means,” the Kremlin said in its readout of the call.

Turkey has stepped up its diplomacy since Israel launched aerial attacks on Iran last Friday and Tehran struck back on the weekend, in their most intense confrontation in history.

Headline

Iran, Israel Need ‘To Fight It Out’ To Reach Deal – Trump

Published

5 hours ago

June 16, 2025

Editor

US President Donald Trump on Sunday urged Iran and Israel — who are locked in an exchange of military strikes — to “make a deal,” but suggested they might need to “fight it out” first.

“I think it’s time for a deal,” Trump told reporters, as Israel and Iran exchanged a fresh barrage of missile strikes and threatened more devastation in a conflict that appeared to be intensifying.

“But sometimes they have to fight it out, but we’re going to see what happens,” Trump said, speaking at the White House before heading to Canada to take part in a G7 summit.

After decades of enmity and a prolonged shadow war fought through proxies and covert operations, the latest conflict marks the first time arch-enemies Israel and Iran have traded fire with such intensity, triggering fears of a lengthy conflict that could engulf the entire Middle East.

It began Friday, when Israel launched attacks that have killed top military commanders and nuclear scientists, and struck military bases, nuclear sites and residential areas across the country.

Trump refused to answer a question about whether he had asked Israel to pause airstrikes on Iran.

Earlier, a senior US official told AFP that Trump had vetoed an Israeli plan to assassinate Iranian supreme leader Ayatollah Ali Khamenei.

Trump wrote on his Truth Social platform that he believed the two sides “should make a deal, and will make a deal.”

There are “many calls and meetings now taking place” on the issue and peace could be achieved “soon” between the longtime adversaries, he said.

Headline

Trump Orders Deportation Drive Targeting Democratic Cities

Published

5 hours ago

June 16, 2025

Editor

US President Donald Trump on Sunday directed federal authorities to ramp up deportation efforts in Democratic-led cities, doubling down on a politicized anti-immigration drive after major protests in Los Angeles.

“We must expand efforts to detain and deport Illegal Aliens in America’s largest Cities, such as Los Angeles, Chicago, and New York, where Millions upon Millions of Illegal Aliens reside,” Trump said on his Truth Social platform.

“These, and other such Cities, are the core of the Democrat Power Center,” he claimed, citing debunked right-wing conspiracy theories that undocumented immigrants are voting in US elections in significant numbers.

Trump has made deporting undocumented immigrants a key priority for his second term, after successfully campaigning against an alleged “invasion” by criminals.

Raids by the Immigration and Customs Enforcement (ICE) agency in Los Angeles sparked unruly protests, prompting Trump last week to deploy 4,000 National Guards and 700 Marines, against the wishes of local and state authorities.

California has sued to regain control of the National Guardsmen from Trump, arguing he overstepped his authority. That suit is working its way through federal court.

In a long screed on Truth Social Sunday, the Republican president charged that “every day, the Brave Men and Women of ICE are subjected to violence, harassment, and even threats from Radical Democrat Politicians.”

But, he insisted, “nothing will stop us from executing our mission… ICE Officers are herewith ordered … to do all in their power to achieve the very important goal of delivering the single largest Mass Deportation Program in History.”

Trump insisted that “Radical Left Democrats are sick of mind, hate our Country, and actually want to destroy our Inner Cities — And they are doing a good job of it!”

“There is something wrong with them,” he said, listing a litany of grievances, including charges that Democrats “believe in Open Borders, Transgender for Everybody, and Men playing in Women’s Sports.”

That, he said, was why he wanted ICE and other law enforcement agencies “to FOCUS on our crime ridden and deadly Inner Cities.”

Doubling down on his characteristic bluster, Trump seemed to compare migration to the United States with weapons of mass destruction.

He said he had directed his entire administration “to put every resource possible behind this effort, and reverse the tide of Mass Destruction Migration that has turned once Idyllic Towns into scenes of Third World Dystopia.”

With his typical divisive rhetoric, Trump said he wanted “our Brave Officers to know that REAL Americans are cheering you on every day.”

“To ICE, FBI, DEA, ATF, the Patriots at Pentagon and the State Department, you have my unwavering support. Now go, GET THE JOB DONE!” he wrote.