Nigeria’s National Integrated Infrastructure Master Plan (NIIMP) is ready to be implemented following approval by the country’s Federal Executive Council earlier this month, Abubakar Sulaiman, Nigeria’s Minister of National Planning and Deputy Chairman of the National Planning Commission, said.
Speaking at a press briefing, Sulaiman announced the launch of a strategic partnership between the National Planning Commission – which coordinated development of the plan – with the African Infrastructure Summit Group and the Initiative for Infrastructure and Modern City Development, in order to promote the NIIMP as well as the investment opportunities arising from it, targeting government officials, infrastructure developers and development banks among others.
By implementing the 30-year master plan, Nigeria aims to invest $3.05 trillion across all infrastructure sectors, including energy, transportation, housing, water and social infrastructure. In the first five years alone, Nigeria estimates that $166 billion will be needed to deliver quality infrastructure.
“The NIIMP aims to raise Nigeria’s stock of infrastructure from the current 20 to 25 percent of GDP to at least 70 percent of GDP by 2043,” Sulaiman said.
Financing will be provided by both the public and private sectors. According to Sulaiman, federal and state governments will provide 52 percent of the $166 billion required in the first five years, while the private sector will be responsible for the remaining 48 percent.
Sulaiman referred to the current administration's reform agenda which focuses on the role of the private sector in helping to grow the economy. “In line with this, the private sector is expected to drive the NIIMP implementation in the long run,” he said.
He called on state governments to “create the enabling environment for private sector participation to flourish,” by strengthening institutions and processes that will ensure effective regulation and enforcement of standards.
According to the Minister, about 600,000 construction jobs will be created in the first five years alone, while an additional 8 million workers will be needed to operate expanding infrastructure.
The National Planning Commission began developing the national infrastructure master plan in 2012 under the leadership of then Minister of National Planning, Shamsuddeen Usman.
Other countries that have already adopted NIIMPs are Malaysia, India, Singapore and China. According to the National Planning Commission’s website those countries have reaped multiple benefits such as greater economic growth, significant private sector investment and improved competitiveness.