FG charged on adoption Of Chinese model for infrastructure devt

By Abdul Olalekan

As the country continues to groan under huge infrastructure deficits, economic experts have charged the Federal Government to adopt Chinese model, to build more roads and effective rail system in the country.

The experts, who spoke at a workshop organised by the Nigeria Deposit Insurance Corporation (INDIC) for Business Editors and Finance Correspondents in Kaduna State at the weekend, noted that it was high time government showed more commitment to provide more roads and railways as these transportation systems are key to economic growth and development.

Economic Experts, Dr. Biodun Adedipe, said infrastructure development is key to the economic growth, but must be pursued with keen interest,

Adedipe who is also the Managing Consultant, B. Adedipe Associates Limited, urged the President Muhammadu Buhari’s-led administration to borrow a leaf from China, whose roads and rail systems are now the best.

China, according to him, came up with a 30-year infrastructure development model in 2004 to build roads that will out-compete U.S.

“U.S has 75, 000 km of expressway, but China set a target of 85, 000 km expressways to be delivered in 30 years from 2004 to 2034. By 2007, China already has 53, 000 km of expressway. So, they reviewed the target date backward to 2010 and by 2010, they achieve their target,” he stressed.

This, he said, they accomplished through dedication and allocation of resources to achieve their objectives, noting that Nigeria had its first expressway before China, but today, it has surpassed Nigeria.

“They did no magic. They agreed on what they wanted to do, they committed resources to it and they ensure it was done. They equally did similar thing in their railways system and today, they are better for it. Nigeria must think this way too, if it is serious about building required infrastructure in the country,” he pointed out.

However, Acting Director, Trade & Exchange Department, Central Bank of Nigeria (CBN), Mr. W.D. Gotring, urged government to adopt policies that will limit capital flight, such that any foreigner working in the country must invest in the country.