AfDB to reveal extent of infrastructure needs in Nigeria
26 August 2011
The Africa Development Bank (AfDB) has revealed it will publish a report looking at Nigeria's infrastructure to determine what development projects need to go ahead.
This will help the government work out what areas it needs to focus on and create a budget accordingly, 234next.com reported.
Ousmane Dore, resident representative of the AfDB, said the study will look at the nation's weaknesses, its infrastructure gap and how development could help Nigeria's economy.
"The private sector, as the engine of growth and development, should be supported to be able to create wealth," the news source reported Mr Dore as saying.
He added unless there is monetary expansion "the country is not going to be able to achieve much on poverty alleviation".
Mr Dore noted that $1.5 billion (£919 million) has been allocated to infrastructure initiatives in the nation, which will see water, sanitation, health, social and agriculture developments.
This comes after Nigeria's finance minister Ngozi Okonjo-Iweala recently stated that the country needs to get itself out of debt in order to improve its infrastructure.