FCT announces plans to improve Nigeria's transport infrastructure
22 March 2012
The Federal Capital Territory (FCT) of Nigeria has revealed detailed investment plans that could lead to significant improvements being made to the country's transport infrastructure, which has stifled the Nigerian economy in recent years.
Indeed, the FCT has proposed using N53.01 billion for the development of the transport sector, while it also plans to spend another N37.5 billion on infrastructural facilities in various satellite towns across the country, The Daily Trust has reported.
The Chinese government and the African Development Bank have already declared themselves interested in helping to finance the ambitious infrastructure projects, which could make a significant difference on a regional and national scale.
It has been confirmed that much of the money would go towards creating new roads and bridges, which should help to ease congestion currently seen in various parts of the country.
Furthermore, senate leader Victor Ndoma-Egba said that the investment should lead to the creation of more affordable housing for local people.