Nigeria’s Infrastructure Deficit Projected to Reach $2.3trn by 2043 — NESG, UKNIAF Seek Solutions
Nigeria’s infrastructure deficit is projected to hit $2.3 trillion by 2043 if urgent measures are not taken, experts have warned.
This projection was revealed on Tuesday during a pre-summit dialogue on “Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility” ahead of the 31st Nigerian Economic Summit (NES #31).
The session was convened by the Nigerian Economic Summit Group (NESG) in collaboration with the UK Nigeria Infrastructure Advisory Facility (UKNIAF) in Abuja.
The dialogue brought together policymakers, financiers, development partners, and private sector stakeholders to deliberate on the National Integrated Infrastructure Master Plan (NIIMP) and explore Public-Private Partnerships (PPPs) as a pathway to bridging the funding gap.
Delivering the welcome address, NESG Board Director, Nnanna Ude, stressed that unlocking private capital through properly prepared projects is critical for inclusive and sustainable development. He reaffirmed NESG’s commitment to advancing reforms that will strengthen Nigeria’s investment climate and infrastructure competitiveness.
In the keynote presentation, UKNIAF’s team, led by Abdul Oladapo, identified weak project preparation as the biggest barrier to effective PPPs in Nigeria. They cited poorly structured proposals, inadequate feasibility studies, and weak institutional capacity as factors discouraging investment.
The team recommended a systematic approach through the Nigeria Project Preparation Facility (NPPF), which has received ₦42 billion in the Federal Government’s 2024 and 2025 budgets.
They noted that earlier interventions by institutions such as the International Development Association (IDA) and the Public-Private Infrastructure Advisory Facility (PPIAF) had limited impact due to similar shortcomings.
A high-level panel discussion on “Strengthening Nigeria’s PPP Pipeline – Institutional Perspectives” featured experts from government, finance, and development sectors. Panelists highlighted the need for robust risk assessment, technical expertise, and effective risk-sharing mechanisms to improve project bankability.
Recommendations also included creating recycling funds from successful transactions (REA), leveraging climate finance opportunities (PPP specialists), and establishing project-implementing entities that integrate skills and co-develop initiatives to safeguard capital (AFC).
Earlier, Saadiya Aliyu, Facilitator of the NESG Infrastructure and Allied Services Policy Commission, called for stronger collaboration among government, private sector, and development partners to accelerate sustainable infrastructure growth.
The dialogue ended with a collective call to prioritise bankable project preparation as the foundation for mobilising long-term capital and driving Nigeria’s infrastructure transformation.
The outcomes of the meeting will feed into the 31st Nigerian Economic Summit (NES #31), themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030”, scheduled for October 2025.
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