Abbas- Nigeria Needs $3trn Investment in 30 Years to Close Infrastructure Gap

During an interview, Speaker of the House of Representatives, Hon. Tajudeen Abbas, emphasized the urgent need for a substantial investment in Nigeria’s infrastructure, estimating a requirement of $3 trillion over the next 30 years to close the existing gap. This statement was made in Abuja at the kick-off event for the construction of a new access road from Ring Road 1 to Judges Quarters, a project expected to address critical infrastructure shortages.

Abbas highlighted that key sectors such as road networks, power supply, housing, healthcare, and education are in dire need of improvement. With Abuja’s population growing at an annual rate of 5%, he noted that this rapid increase exacerbates pressure on current facilities, making the infrastructure deficit particularly evident in the Federal Capital Territory (FCT).

Represented by Deputy Speaker, Hon. Benjamin Okezie Kalu, Abbas praised President Bola Tinubu’s administration for its commitment to infrastructure development. He assured attendees that the House of Representatives will provide the necessary legislative support to the FCT’s leadership and strengthen oversight mechanisms to ensure government accountability in enhancing Abuja’s infrastructure.

“It’s well-known that Nigeria, like many developing countries, faces significant infrastructure challenges,” Abbas stated. “Recent estimates indicate we need about $3 trillion over the next three decades to bridge this gap and support sustainable economic growth.”

He continued, “In Abuja, the situation is more pronounced with our city’s escalating population. This clearly demonstrates the need for improved access roads, additional housing, and essential services to meet the demands of our residents.”

Abbas expressed optimism regarding President Tinubu’s initiatives aimed at tackling these infrastructure issues. “These initiatives reflect a governmental recognition of infrastructure’s vital role in national development and a commitment to making necessary investments,” he asserted.

He also noted the National Assembly’s critical role in advancing infrastructure development within the FCT. “Under my leadership, the 10th National Assembly is eager to work alongside the Executive to ensure that Abuja gets the legislative backing required for meaningful projects,” he said, emphasizing their readiness to pass laws and approve appropriations to facilitate such developments.

Commending FCT Minister Nyesom Wike for his proactive approach since taking office, Abbas remarked, “The Honourable Minister has been quick to initiate projects that directly respond to the needs of our city. From road construction to urban renewal efforts, his commitment to improving FCT infrastructure is clear.”

He added, “These flag-off ceremonies are not mere formalities; they signify our collective dedication to transforming Abuja into a world-class city. The ongoing improvements, the removal of illegal constructions, and initiatives focused on environmental sustainability showcase this vision of a beautiful, functional, and efficient Abuja.”

Abbas concluded with confidence that the completion of the access road and various ongoing projects will positively impact both residents and visitors.