According to Tajudeen Abbas, the Speaker of the House of Representatives, Nigeria must invest over $3 trillion over the next 30 years to close the infrastructure deficit.

Among other things, he cited housing, healthcare, education, electricity supply, and road networks as crucial areas for investment.

At the flag-off ceremony for the building of the access road from Ring Road 1 to the Judges’ Quarters in Abuja, Speaker Abbas made this statement.

The Speaker, who was represented by Deputy Speaker Benjamin Kalu, stated that the city’s 5% annual growth rate has made the Federal Capital Territory’s infrastructure deficit even more concerning.

“It is well known that Nigeria, like many other developing countries, lacks adequate infrastructure,” he remarked. Nigeria has to invest almost $3 trillion over the next 30 years, according to latest estimates, in order to bridge the infrastructure deficit and reach the level of development necessary for long-term economic growth.Among the sectors that urgently require attention are the housing, healthcare, education, electricity supply, and road network.

The lack of infrastructure is more obvious here in Abuja, where the population is increasing at a pace of 5% each year. This strains already-existing infrastructure and emphasises the need for more housing, access roads, and basic services to meet the demands of locals.

Nonetheless, the Speaker praised President Bola Tinubu for making great progress in tackling the issues since assuming office in May 2023 and pledged to back the government’s endeavours to promote the FCT’s development.

“There have been admirable efforts to alleviate this infrastructure gap under President Bola Tinubu’s direction. These programs demonstrate the government’s commitment to make the required investments and its understanding of the importance of infrastructure to the growth of the country.

The National Assembly, the FCT’s legislature, may play a significant role in assisting with these development initiatives. I have the honour of leading the 10th National Assembly, which is totally dedicated to working with the executive branch to guarantee that the FCT has the legislative support it needs to support infrastructural development. We are prepared to examine and enact legislation that would strengthen the FCT’s governance framework and authorise funding that will enable significant infrastructure projects, including building new roads.

“The National Assembly will also keep up its oversight duties to guarantee that projects are carried out within the allotted time frames and in accordance with standards.”

The Speaker also praised Mr. Nyesom Wike, the Minister of the Federal Capital Territory, specifically for his urban revitalisation plan.

“The Honourable Minister has jumped right in, launching initiatives that meet this expanding city’s pressing requirements. His commitment to improving the FCT’s infrastructure is seen in everything from road development to urban revitalisation initiatives. We have seen many flag-offs, which are significant milestones in the effort to establish Abuja as a world-class metropolis as well as ceremonial events.

The Honourable Minister’s vision of an Abuja that is not only aesthetically pleasing but also practical and efficient is demonstrated by the continuous restoration of main highways, the removal of illegitimate buildings, and the emphasis on environmental sustainability. I have no doubt that both locals and tourists will benefit from these advancements once this access road and other current improvements are finished,” Speaker Abbas continued.