* Private sector to foot 48 per cent of the bill

* BSG presents report on NIIMP

HENCEFORTH, expenditure profile of the nation's infrastructure development programme would rise from the current three to five per cent of the Gross Domestic Product (GDP) to an average of nine per cent, over the next 30 years.

The spending agenda, scripted to achieve the long-term National Integrated Infrastructure Master Plan (NIIMP), also put expenditure on infrastructure maintenance at an estimated two per cent of the GDP.

Specifically, the Minister of National Planning, Dr. Shamsudeen Usman said yearly investment in infrastructure "will have to rise to $25 billion (about seven per cent of the GDP from the current $9 billion to $10 billion (about four per cent of the GDP)."

The overall profile, according to Usman, would be over $2.9 trillion, over the 30-year period.

However, about 48 per cent of the bill is expected to be picked up by the private sector partners, under the initiative.

The minister made these disclosures at the formal presentation of the report prepared by the Business Support Group (BSG), to the Federal Government at the weekend.

The report, which was the strategic input of the private sector operators into the NIIMP, also prescribed funding options for the facility development and upgrade agenda.

Essentially, the minister described the BSG's report as a "harvest from the private sector, its perception of the required enabling environment, as well as the specific actions required to achieve it."

According to Usman, there is no gainsaying the fact that the current infrastructure stock in the country is grossly inadequate to meet the demands of the economy. It is clear that we cannot grow the economy at the desired rate, reduce poverty to an appreciable level and create jobs in sufficient quantity for our teeming youths, given the current state of our infrastructure.

"More directly, inadequate infrastructure is one of the main reasons responsible for Nigeria's inability to compete effectively, in a highly competitive global economy. While we ranked 115 in the overall World Economic Forum Global Competitiveness Ranking, we ranked 130 out of 144 countries in 2012/2013.

"It is this state of affairs that called for drastic action where, in line with the priorities of the transformation agenda, Mr. President, Dr. Goodluck Ebele Jonathan, directed the National Planning Commission (NPC) to coordinate the development of the NIIMP for Nigeria. We have been working in the last 12 months to accomplish this national assignment."

He explained that "the draft NIIMP has been produced and will be presented at validation workshops in the six geo-political zones and subsequently to the National Assembly, Economic Management Team and the National Economic Council. It will be presented finally to the Federal Executive Council for consideration and approval, for implementation to start in 2014."

He added: "The NIIMP is a 30-year master plan for accelerating infrastructure development in the country. It focuses on core infrastructure, including energy (power and oil and gas), transport (roads, rail, ports and airports), housing, water and ICT. Other infrastructure classes include agriculture, mining, social infrastructure, vital registration and security.

"The draft NIIMP contains a long term vision that sets the overall direction for the master plan and strategic objectives, such as per capita income and GDP growth. It also describes the overall investments required in infrastructure, over the next 30 years and contains a financing plan and sector and regional strategies, as well as a priority projects portfolio. As an actionable plan, the NIIMP also highlights enablers for implementation and an implementation plan."


http://odili.net/news/source/2013/jul/22/10.html

So, what happened to Vision 20:2020?

Thieves !!!

its absolute abracadabra economy.
We need prof pellar and rondorondo.

Dem don come again.