Nigeria’s infrastructure deficit to hit $2.3trn by 2043 – NESG

The Nigerian Economic Summit Group (NESG) has projected that Nigeria’s infrastructure deficit will reach $2.3 trillion by 2043, urging stronger public-private partnerships (PPPs) to address the challenge. The projection was revealed at a high-level dialogue on “Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility” ahead of the 31st Nigerian Economic Summit (NES #31). According […]

The Nigerian Economic Summit Group (NESG) has projected that Nigeria’s infrastructure deficit will reach $2.3 trillion by 2043, urging stronger public-private partnerships (PPPs) to address the challenge.

The projection was revealed at a high-level dialogue on “Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility” ahead of the 31st Nigerian Economic Summit (NES #31).

According to a statement by NESG, the dialogue convened policymakers, financiers, development partners, and private sector stakeholders to explore solutions under the National Integrated Infrastructure Master Plan (NIIMP).

NESG Board Director, Mr. Nnanna Ude, said unlocking private capital through well-prepared projects is key to achieving inclusive and sustainable development.

Delivering the keynote, the UK Nigeria Infrastructure Advisory Facility (UKNIAF) team led by Mr. Abdul Oladapo identified weak project preparation as the biggest barrier to effective PPPs. 

They cited poorly structured proposals, limited feasibility studies, and weak institutional capacity as recurring obstacles that deter investors.

They stressed the importance of systematic project preparation through the Nigeria Project Preparation Facility (NPPF), which has N42 billion allocated in the 2024 and 2025 budgets. Past interventions by institutions such as the International Development Association (IDA) and the Public-Private Infrastructure Advisory Facility (PPIAF) were said to have achieved limited results due to similar gaps.

A panel session on “Strengthening Nigeria’s PPP Pipeline – Institutional Perspectives”, moderated by Engr. Nyananso Gabriel Ekanem, called for improved risk assessment, better technical expertise, effective risk-sharing mechanisms, recycling funds from successful projects, and leveraging climate finance to make Nigeria’s PPPs more bankable.