Federal Government needs $166 Billion Naira to fix electricity and transportation issues - Rotimi Amaechi

According to the Minister of Transportation, Rotimi Amaechi, The Federal Government needs at least  $166 billion over the next five years to meet the country’s energy and transport infrastructure needs

He said this at the public hearing on Nigerian Railway Authority bill and National Transport Commission bill in Abuja yesterday.

He said:

Besides privatisation, government also realised a monumental infrastructure deficit which, as at 2015, stood at over $3.05 trillion in 30 years or $166 billion in five years, with energy and transport infrastructure taking more than 50% of that need.

“Transport infrastructure alone needs a whopping $50.9 billion in five years to cover the current gap in the sector, an average of $10.2 billion per year.

‘’Currently, the ratio of funding in the sector between the public and private is 9:1. This constituted a major disincentive to private sector participation in the industry.