Categories: featuredNews

Infrastructure Devt Will Drive Economic Growth, Create Wealth Fed Govt

The Federal Government has, yesterday, said infrastructure development would boost the country’s economic growth, create wealth and jobs for the populace.

Minister of Finance, Ms Kemi Adeosun, who stated this at the United Capital launch of its EU, Robond and Wealth for Women Funds in Abuja, said infrastructure development would play a fundamental role in unlocking Nigeria’s economic potential, laying a foundation for economic competitiveness and long-term future growth.

Adesoun stated that investment in critical infrastructure across the country would unlock job and wealth creation and strengthen economic development across all states in Nigeria.
Advertisement
While speaking on the outlook for the Nigerian economy, the Minister noted that government was committed to increasing spending on critical infrastructure across key sectors, including power, rail, roads and water, which would underpin growth in priority sectors, especially Agriculture and Agro-Allied, Solid Minerals, Manufacturing, and Power.

According to her, “we will now target 30 percent of government expenditure on infrastructure, up from 10 percent”.
Adeosun said the Federal Government would mobilise private capital to complement government spending on infrastructure.
“We recognise that government spending alone will be inadequate to bridge the infrastructure gap and we have started engaging the private sector through our housing fund and the road trust fund for which fundraising is in progress,” she said.

 

 

Source: TODAY.ng

hvzclarence

Recent Posts

Rivers Crisis: I’ts Worrying You Mentioned My Name Only, I’m Not The Problem – Fubara Replies Tinubu

Governor Siminalayi Fubara has expressed concern that President Bola Tinubu only mentioned his name in…

4 hours ago

Commercial Sex Worker Stabs Client To Death In Lagos

The Lagos State Police Command, on Monday disclosed that it has detained a commercial sex…

5 hours ago

Top 10 Trending Stories In Nigeria Today

As Nigeria continues to evolve, its citizens are drawn to stories that resonate with their…

7 hours ago

‘Stop Shielding Wike’, ‘Call Him To Order’,  Nigerians Reacts To Tinubu’s Statement On Rivers Crisis

As the violence in Rivers State escalates following the recent local government council elections, Nigerians…

7 hours ago

Aregbesola Hosts Southwest Iyalojas, Artisans, Youths

●Commends Agboluaje Kajola Foundation's Interest-Free Loans Former Minister of Interior, Ogbeni Rauf Aregbesola, has canvassed…

8 hours ago

Segilola Gets Interim Injunction Against Osun Govt

A Federal High Court in Abuja has reversed the decision of the Osun State Government…

8 hours ago

This website uses cookies.