THE President/Chief Executive
of the Africa Finance Corporation
(AFC), Mr. Andrew Alli and other
leading experts in the financial sector
are expected to proffer solution
to the challenges of infrastructure
financing in the country, at the 2017
annual conference of the Finance
Correspondents Association of
Nigeria (FICAN).
Others expected at the annual
event which holds at the Orchid
Hotels, Lekki, Lagos, on Saturday,
16th September, include the
Managing Directors/Chief Executive
Officers of Heritage Bank Plc, Mr.
Ifie Sekibo; Rand Merchant Bank,
Mr. Micheal Larbie; SunTrust Bank
Limited, Mr. Mohammed Jibrin;
Viathan Engineering Limited, Mr.
Ladi Sanni; as well as the Acting
Director General of the Infrastructure
Concession Regulatory Commission,
Engr. Chidi Kingsley Izuwah.
The theme of the conference is:
“Financing Nigeria’s Infrastructure:
Issues, Challenges, and Options.”
FICAN in a statement stressed
that the place of infrastructure in
economic and social development of
a country cannot be over emphasised.
Infrastructure financing, according
to the association, plays critical roles
in promoting economic growth,
standard of living, poverty reduction
by enhancing productivity, improving
competitiveness and linking people
and organisations together through
Infrastructure financing also
contribute to environmental
Nigeria is currently faced with
huge infrastructural gap that has
hindered its earnest desire to exploit
its rich natural and human resources
for its development. For instance, in
spite of the country’s huge oil and
gas, sunlight and hydro resources,
Nigeria cannot generate enough
electricity to drive its development.
“Indeed, Nigeria’s infrastructure
deficit had stymied its economic
growth, restricted productivity
of its economy and limited its
competitiveness. The challenge of
the absence of critical infrastructure
continue to impact negatively on the
cost of doing business, investment,
and capital inflow into the country,”
the statement added.
It had been projected that the
country needs to invest $10 billion
annually over the next 10 years
for it to significantly reduce its
infrastructure deficit. Some of the
sectors that require huge investments
include power, housing and
highways, railways, ports, airports,
dams, bridges and tunnels, oil
and gas, water and sanitation and
Therefore, presently, the need to
evolve creative options to generate
long-term finance to tackle Nigeria’s
infrastructural challenges is one
of the most important questions
agitating the minds of policy makers
in public and private sectors.
“What are the appropriate
financing vehicles to enable the
federal, states and local governments
in the country achieve the objective
of infrastructure development? Are
Nigerian banks well positioned to
finance such big-ticket deals?” are
among the issues the experts are
expected to discuss at the conference.

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