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FG invests over $1bn on infrastructural development

The Federal Government plans to invest $1bn in the
construction of the Lagos-Ibadan Expressway, Sec-
ond Niger Bridge, and Abuja-Kaduna-Zaria-Kano
Expressway.

This will increase construction sector ac-
tivities that grew by 1.42% in Q1’21 compared to
1.21% in Q4’20.

In addition, the increased govern-
ment focus on infrastructure development, would
aid productivity and in turn increase economic output. The successful and timely implementa-tion of these projects would also encourage FDI inflows and bridge the county’s infrastructure gap.

The government currently needs about $3trn for 30 years to plug the county’s infrastruc-ture deficit. Meanwhile, Nigeria ($45.1bn) is the second largest recipient of foreign direct in- vestments in Africa after Egypt ($56.2bn).

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