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ICRC says Nigeria requires $100b for Infrastructure development
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ICRC says Nigeria requires $100b for Infrastructure development

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Infrastructure Concession Regulatory Commission says Nigeria requires $100 billion to provide quality infrastructure in the next six years.

The acting Director General, ICRC, Chidi Izuwa disclosed that about $60 billion would be required for the oil and gas sector, $20 billion to revamp the power sector, $14 billion for road; and between $8 and $17 billion for rail tracks.

Izuwa noted that Nigeria ranks poor in domestic savings, investments and government spending compared to some of neighbours.

According to him, Nigeria’s huge gap in infrastructure has diminished economic growth and competitiveness.

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