Nigeria’s infrastructure deficit could rise to $2.3 trillion by 2043 if urgent action is not taken, experts warned on Tuesday.
The revelation came during a pre-summit dialogue in Abuja ahead of the 31st Nigerian Economic Summit (NES #31). The session, themed “Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility,” was convened by the Nigerian Economic Summit Group (NESG) in partnership with the UK Nigeria Infrastructure Advisory Facility (UKNIAF).
Policymakers, financiers, development partners, and private sector leaders highlighted the challenges under the National Integrated Infrastructure Master Plan (NIIMP) and stressed the importance of Public-Private Partnerships (PPPs) in bridging the huge gap.
Nnanna Ude, NESG Board Director, said unlocking private capital through properly prepared projects is key to inclusive and sustainable growth. He reaffirmed NESG’s commitment to driving reforms that strengthen Nigeria’s infrastructure competitiveness.
Delivering the keynote, UKNIAF’s Abdul Oladapo identified weak project preparation as the country’s greatest obstacle to effective PPPs. Poor feasibility studies, weak institutional capacity, and poorly structured proposals were flagged as major barriers to attracting private investment.
He emphasized systematic project preparation through the Nigeria Project Preparation Facility (NPPF), backed by the Federal Government’s ₦42 billion allocation in the 2024 and 2025 budgets. Previous donor interventions, including those from the IDA and PPIAF, were noted to have had limited success due to similar gaps.
A high-level panel on “Strengthening Nigeria’s PPP Pipeline – Institutional Perspectives” brought together experts from government, finance, and development. Discussions focused on:
- Improving risk assessment and technical expertise (ICRC)
- Embedding risk-sharing mechanisms into PPP contracts (REA)
- Recycling funds from successful deals and leveraging climate finance (PPP specialists)
- Building entities that combine skills to co-develop projects and safeguard capital (AFC)
Saadiya Aliyu, NESG Infrastructure & Allied Services Policy Commission facilitator, called for stronger collaboration between government, private sector, and development partners.
The dialogue closed with a shared consensus: bankable project preparation is the foundation for Nigeria’s infrastructure transformation.
The outcomes will feed into discussions at NES #31, themed “The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030,” scheduled for October 2025.
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