InfraSpotlight’s Post

All you need to know about Nigeria’s proposed budget for infrastructure in 2025 in this short video.

Nigeria's infrastructure system faces significant challenges despite being the largest economy in Africa. The country's infrastructure encompasses many sectors, including transportation, water supply, housing, and housing & urban development. While efforts are being made to improve the Nigerian infrastructure system through Public-Private Partnerships (PPPs) and other government initiatives; there is an urgent need for substantial investment, effective governance, and renewed efforts to address the unyielding challenges to accelerate the country's economic growth and development. The #NESG Infrastructure Policy Commission General Assembly will provide an opportunity for members to learn about the previous activities of the IPC and its agenda for 2024 while discussing critical issues concerning the infrastructure sector. It will also serve as an opportunity for non-members to learn about the NESG and the IPC. Register via https://lnkd.in/d2HP7R5S

Projects must generate enough revenue to repay debts and attract investors. In his session at our last workshop, Mayowa Abiru shed light on the complexities of funding infrastructure in Nigeria, highlighting the crucial role of the public sector and the need for innovative financing mechanisms like infrastructure bonds, concessional loans, and grants. However, he also stated that with capital-intensive infrastructure projects, it is clear the government can not do it alone. Were you part of his session? What are your thoughts on funding infrastructure in Nigeria? #InfrastructureForAll #SustainableDevelopment #SDG9Workshop #SDG9inAfrica

THE GOVERNMENT OF KENYA SHOULD BE MORE FRIENDLY TO LOCAL AND FOREIGN INVESTORS. IT SHOULD END THE LONG BUREAUCRATIC PROCEDURES IN ACQUIRING LICENCES. IT HAS TO CONSOLIDATE THE MANY LICENCES REQUIRED TO A SINGLE ONE. THIS SHOULD BE BOTH AT THE COUNTY AND NATIONAL GOVERNMENT LEVELS. THE GOVERNMENT OUGHT TO CREATE A CONDUCIVE WORKING ENVIRONMENT THROUGH PUBLIC-PRIVATE PARTNERSHIP. THE CONSTRUCTION OF ROAD INFRASTRUCTURE SHOULD BE PRIORITIZED. THIS WILL ASSURE SEAMLESS CONNECTION TO MARKETS FOR BOTH GOODS AND SERVICES. TO AUGMENT THIS INFORMATION AND COMMUNICATION INFRASTRUCTURE SHOULD BE CONSTRUCTED FOR ELECTRONIC COMMERCE TO FLOURISH. THE USE OF POWER LINES TO CONNECT FIBRE OPTIC CABLES IS A STEP IN THE RIGHT DIRECTION. THE SHIFT TO RENEWABLE ENERGY IS WONDERFUL FOR KENYA. THIS WILL MITIGATE AGAINST EMISSIONS FROM THERMAL ENERGY POWERED BY COAL, OIL AND GAS. THE CONSTRUCTION OF WATER AND SEWERAGE PIPELINES IS IMPORTANT FOR THE GOVERNMENT WITH A TENDENCY TO PRIVATIZE WATER AND SEWERAGE PROVISION BEING ESSENTIAL FOR EFFICIENCY. THE CONSTRUCTION OF MORE AIRPORTS AND SEAPORTS AT AN ADVANCED STAGE BY THE GOVERNMENT. THE GOVERNMENT IS ALSO UPGRADING EXISTING FACILITIES FOR EFFECTIVE TRANSPORT SYSTEMS. THE GOVERNMENT SHOULD PROVIDE SECURITY SERVICES TO INVESTORS TO ASSURE THEM OF SAFETY OF THEIR PROPERTY AND LIVES. THE GOVERNMENT IS DIGITIZING IT'S SERVICES TO MAKE IT POSSIBLE FOR EASY OF DOING BUSINESS BUT MORE SHOULD BE DONE AS FAR AS EFFICIENCY IS CONCERN. THE KENYAN GOVERNMENT IS ON THE MOVE AND NEEDS SUPPORT FROM CITIZENS TO MAKE THE KENYAN ENVIRONMENT CONDUCIVE FOR WEALTH CREATION.

DRC Set to Gain 922.4 Billion CDF from Sino-Congolese Contract Renegotiation The Democratic Republic of Congo (DRC) is poised to receive a significant boost of 922.4 billion Congolese Francs (CDF) in October 2024 due to the renegotiation of the Sino-Congolese contract. This anticipated cash flow plan outlines a total of public resources amounting to 2,483.4 billion CDF, which includes exceptional revenues from the revised agreement. Congolese authorities aim for this amendment to rebalance benefits between the two parties involved. For October 2024, public expenditure is estimated at 3,071.8 billion CDF, highlighting the necessity for rigorous management of public finances. The DRC…Read More Here https://lnkd.in/d9MxbqUk

Stakeholders Highlight Infrastructure Deficit, Policy Implementation, Others As Key Issues Hindering 24-Hour Port Operations in Nigeria Stakeholders in nation’s maritime sector have identified critical challenges obstructing the realization of 24-hour port operations, citing infrastructure deficits, unskilled labour and manpower shortages, policy implementation gaps amongst others, as major hindrances. This is even as they called for urgent reforms to enhance efficiency and effectiveness in the industry. Read more: https://lnkd.in/d5pbFsj9

Nigeria, Saudi Arabia to explore opportunities in infrastructure, economic development

Africa grapples with a vast infrastructure funding gap. The AfDB estimates the continent requires $130-170 billion annually. Yet falls short by $68-108 billion, hindering development efforts. Investors can play a vital role in bridging this gap by participating in public-private partnerships and infrastructure projects. #Economy #Investment #InfrastructureInvestment

"There is no gainsaying that Nigeria has a huge infrastructure deficit. Despite this huge infrastructure deficit, we find that the Federal Government of Nigeria and states have many abandoned or failed projects dotting the country." Iyabo Awokoya says it's important for the Nigerian government to prioritise the completion of existing projects. Full video here 👉🏾 https://lnkd.in/dHESh_ax

Federal Government allocates N732 billion for Empowerment Projects in the 2024 Budget, an amount higher than the N646.5 billion allocated to health projects. Previously, empowerment projects were limited to constituency projects, but over the years, they have gradually seeped into capital projects through insertions by the National Assembly. For instance, the National Assembly inserted 7,447 projects worth N2.24 trillion in the 2024 budget. Tracka identifies this as a problematic trend, considering the nation's huge infrastructure gap and budget deficits. Our analysis showed that over 2,558 projects worth N624 billion were allocated to agencies outside their mandate. An example is the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN)—ERGP20241489—allocated N5 billion for the Procurement and Distribution of Official Vehicles to Selected Traditional Rulers in the Six Geopolitical Zones in Nigeria (Multiple Lots). Another is the Nigeria Institute of Oceanography and Marine Research (NiOMR)—ERGP20245718—allocated N2.32 billion to construct a 3.5-km Road from Methodist Church Ibu to the Eri River. In the 2024 Federal Government Budget, there are 4,440 empowerment projects. Tracka maintains that empowerment projects are vague and challenging to track due to their nature. These projects are also used as a funnel to transfer public resources to party loyalists, resulting in the misuse of public funds. We call on anti-graft agencies to probe these anomalies in the 2024 budget to forestall diversion, misappropriation, and embezzlement. We also call on elected representatives and Ministries, Departments, and Agencies to provide transparent and timely updates to the public and ensure the quality implementation of these projects so that Nigerians derive maximum benefit from public funds. #AskQuestions