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Nigeria needs $776bn to develop transport infrastructure in 30 years-Sirika
- Africa needs $35bn yearly for sector in 20 years-AfDB
Minister of State for Aviation, Hadi Sirika said Nigeria would need $775bn to develop the country’s transportation infrastructure over the next 30 years.
Along the same line, the African Development Bank (ADB) estimates that the continent would need $35bn annually to develop the sector for 20 years, stressing that this ofcourse is focused on four broad sectors such as transport, transport infrastructure, electricity and rural access, water and sanitation and ICT.
Vice-President Yemi Osinbajo who represented President Muhammadu Buhari, Minister of State for Aviation, Senator Hadi Sirika and President, African Development Bank (ADB), Dr. Akinwunmi Adesina at the opening of ICAO World Aviation Forun (IWAF) held at the Trancorp-Hilton Hotel, Abuja
In his welcome address at the ongoing third ICAO World Aviation forum in Abuja, said this deficit on the one hand is bad but on the other hand, provides opportunity for investment.
Sirika stated that Nigeria, by its geography is strategically located In the Gulf of Guinea, equidistant from most locations in Africa with a population of 173 million people and accounts for about 50% of West African Population.
Nigerian market, he reiterated serves the West and Central African region with population of 600 million people.
Notwithstanding this potential, he lamented that there is absence of a strong air carrier, major Maintenance Repair Overhaul (MRO) Centre, an efficient world class airport or even a significant catering company.
Nigeria to him is positioned to take advantage of this opportunity, adding that he strongly believe that Nigeria is the place for investors to put their money, not only because, “we moved up 24 places in ease of doing business recently but more so because the rate of return on investment is 34%, one of the highest in the world”.
He further disclosed that the Nigerian government together with relevant stakeholders developed a Roadmap that included but not by any means limited to safety and security infrastructure strengthening, concession of airports (starting with Abuja, Lagos. Kano and Port Harcourt), establishment of a national carrier (private sector led).
Others are stablishment of Maintenance, Repair, and Overhaul (MRO) Centre, establishment of an Aviation Leasing Company (ALC), development of Agro-cargo terminal and associated infrastructure, establishment of an aviation/aeronautical University) and development of Aerotropolis
ln executing the Roadmap which is private sector led through PPP, Sirika said the government has engaged internationally reputable transaction advisers for the various components in accordance with the Infrastructure, Concession and Regulatory Commission Act (ICRC) of 2007 and also In-line with global beet practices, adding that these advisers have since commenced work.
He urged participants to consider the opportunity Nigeria offers and invest in its Roadrnap, assuring them that its implementation will be transparently done in accordance with global best practice.
He pointed out that the government provided support to Nigerian College of Aviation Technology (NCAT), Zaria to enable it achieve status of ICAO Regional Centre of excellence while Nigerian Meteorological Agency (NiMeT), with the same support, was able to attain iSO 9001-2015 Certification; the only African country to be so certified.
He noted that safety and security are the priority of the administration, hinting that he was glad to inform participants that Nigeria has passed lCAO Security Audit with 96.4% while its score in the Universal Safety Oversight Audit was above global average, and by far exceeds Abuja Ministerial safety target.
In area of accident investigation, he said government had been able to release seven accident investigation reports and safety recommendations arising from the reports are being implemented.
