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Transport Infrastructure To Gulp N3.15trn – ICRC
Wife of the President, Mrs Aisha Buhari (left) receiving Aba made-in-Nigeria products from wife of the Governor of Abia State, Mrs Nkechi Ikpeazu, during a courtesy call on the wife of the president by Abia State women in Abuja on Wednesday.
The Director-General,
Infrasture Concession Regulatory Commission (ICRC) Mr Aminu Dikko, has said that the Federal Government would require N3.15trillion in the next five years to address the challenges of infrastructure in the transport sector.
Dikko, made this assertion during a capacity building programme for officials in the Ministry of Transport at Abuja,.
The ICRC boss stated that of this amount, N985 billion would be required in the aviation sector, while N2.17 trillion would be needed to bridge the infrastructure gap in the rail and other transport segments.
He noted that in view of the breakdown , there was a need for capacity building development programme for government officials, particularity those who function in the Public Private Partnership section, saying that it was necessary to attract funding from the private sector.
He said, “if we look at our airports in the country, they need improvement and this can be done through PPP, whether it is operating and managing them or expanding them. Also, we have been struggling to do a second runway at the Nnamdi Azikiwe Airport, Abuja, and this is something that the private sectors can do without all bottlenecks that traditional procurement can bring.”
Dikko, who was represented by the Director, Support Service Department, ICRC, Mr Mohammed Bamali, further said the training would prepare officials of the ministry for the number of projects billed for concession under its supervision.
He said as part of measures to boost commerce and industry, the Federal Government would concession the parts in Lekki and Budagry, among others.
The ICRC boss urged participants at the training to champion the cause of infrastructure in the country using the tools learnt at the training.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.