1. Public financing of infrastructure will gulp N26.9 trn in 5 years – FG |(NAN) The Public financing of infrastructure will gulp 145 billion dollar (N26.9 trillion) in the next five years, the acting Director, Infrastructure Department of the National Planning Commission, Mr Nurudeen Lawal, said. Lawal said this while presenting the Overview of the National Integrated Infrastructure Master Plan (NIIMP) at the media workshop on Strategic and Sustainable Promotion/Marketing of the NIIMP on Thursday in Abuja. The workshop was organised by the National Planning Commission, in collaboration with the Infrastructure Bank PLC. According to him, up to 145 billion dollars is expected to be available for public financing of infrastructure during the first phase of implementation of NIIMP for five years. A sum of 31 billion dollars is being expected from annual budgets of both federal and state governments while 76 billion dollars is being expected from public debt. Other sources such as pension are expected to finance the infrastructure with 13 billion dollars and 25 billion dollars is being expected from Public Private Partnership (PPP),’’ Lawal said. He said the fund would be expended on the prioritised projects such as energy, transport and other sectors across the six geo-political zones. Lawal said the public sector was expected to contribute 52 per cent investments while the private sector would commit 48 per cent investments to infrastructure development to realise the NIIMP objectives. He said the commission established an Infrastructure Delivery Coordinating Unit (IDCU) to coordinate the implementation of the NIIMP. Lawal expressed the commission’s support for the creation of IDCU in the Federal Ministries, Departments and Agencies (MDAs) and states, to ensure effective coordination of the NIIMP implementation. Mr David Adeosun, the Head of IDCU in the commission, said the IDCU was to collect, collate and process data on NIIMP execution as well as monitor and evaluate the plan. Adeosun said the IDCU was also saddled with the responsibility of programme management and development. (NAN) nannewsnigeria/public-financing-infrastructure-will-gulp-n269-trn-5-years-%E2%80%93-fg
Posted on: Sat, 10 Jan 2015 17:46:02 +0000