Stakeholders to explore creative infrastructure funding options at NIDA Awards Thursday

Stakeholders comprising policy makers, corporate experts, venture capitals, development agencies, private sector operators and others will gather in Lagos on Thursday, 5th December to explore creative and enduring options to infrastructure funding in Nigeria.

According to a press statement by the Principal Strategist and the Nigerian Infrastructural Development Awards Coordinator, Mr. Lanre Alabi, Chief Earnest Ndukwe, former Executive Vice Chairman of the Nigerian Communications Commission (NCC) will chair the NIDA Award Nite and lead other discussants including the Director General of Infrastructure Concession Regulatory Commission (ICRC), Mr. Chidi Izuwa, representatives of the Central Bank of Nigeria, Ministry of Works and the Ministry of Information to discuss how Nigeria can attract and mobilize local and foreign capital to fund at least $100billion required annually to close the infrastructure gaps across the country.

The annual event put together by Prospers Strategies Limted,  Publishers of Infrastructure Development Magazine, will take place at the Main Hall (Function Suite) of the Sheraton Hotel & Towers, Ikeja, Lagos by 6.30pm.

The second anniversary of the Nigeria Infrastructure Development Awards (NIDA) is themed ‘Creative Options of Funding Infrastructure Development in Nigeria” is a deliberate attempt by the organizers to interrogate the nation’s search for funding for infrastructure that will be adequate and appropriate for an emerging economy like ours.

The organizers of NIDA Awards believe that a nation’s growth and development depend largely on the tenacity of purpose and commitment of its leadership, both in the public and private sectors, to the sustainable development of its critical infrastructure.

‘Today, there is a serious infrastructure deficit that requires urgent strategic approaches such as multiple funding to fill the gap. Nigeria as a leading emerging economy with huge potentials needs to implement strong policies that can draw investors to her infrastructure needs”, he added.

Nigeria is in a race for global capital with other countries, and must rise to the occasion to attract private capital for the execution of its public private partnerships (PPP) and other sources of funding, noting that Nigeria cannot have economic prosperity without good infrastructure, especially roads.

According to him, the development of infrastructure inevitably leads to ample growth that helps buoy up the nation’s economy. Indeed, economic growth happens when a substantial proportion of a nation’s resources are systematically directed towards long term critical assets such as telecom, social infrastructure (schools, hospitals).

This year, NIDA will also be recognizing icons in the public and private sectors who have been adjudged and proven with empirical evidences to have contributed to the development of the nation through investment and commitment to providing infrastructure. These groups – governments, organizations and individuals have in that direction promoted better living and galvanized real sector growth.

‘In the last one year through the Platform of NIDA Awards and NIDA Magazine, we have created awareness and provided the avenue for both the public and private sectors to share ideas on best practices that have helped other economies on infrastructure development. The Award Forum has also being a place for Agenda setting for government and venture capital to synergize”.