Mr Edward Marlow of
Credit Suisse ,London, UK, said Nigeria must leverage on public private partnership to address its infrastructure deficit and attract foreign investments.
Marlow, who is a delegate from UK, said this at the ongoing first International Transportation Growth Initiative Conference (TGI)in Abuja with the theme: “Improving Infrastructure for Sustainable and Efficient Transportation’’.
According to him, the importance of quality infrastructure cannot be overlooked since it is essential for the economic growth of Nigeria and it can only be achieved through the private sector influence.
“The transport infrastructure in Nigeria is a high potential sector and a priority for the economy, thus Nigerian fundamentals will need to provide long term demand for transportation infrastructure projects.
“This is because with a population approaching 180 million and growing number of middle class; many will need more houses, power and road infrastructure which the government alone cannot provide.
“With this, Nigeria’s need to collaborate with the private sector on infrastructure development is becoming more and more important in the current economic environment,’’ he said.
Marlow said that a concise transportation mode was vital to the growth of any economy because a limited transportation structure would definitely be an obstacle to economic growth.
He urged the Nigerian Government to leverage on the private sector to sustain the current level of economy and the rising population and keep investing in the infrastructure sector .
Mrs Joyce Mogtari ,Deputy Minister of Transportation ,Ghana, who spoke on ‘Intermodal Transportation Infrastructure and Funding in a Developing Economy’’, expressed worry over Africa’s pronounced infrastructure deficit, particularly in transportation.
Mogtari said that these deficiencies constrained gains in domestic productivity and hampered regional integration.
She said Africa needed a transport system that responded to the needs of the society and capable of strengthening global integration in attracting foreign investment while making the region very competitive.
“This will also help Africa to tap regional markets and benefits from globalisation through investment and trade.
“Thus, we must seek innovative ways to secure sustained funding in the provision of transport infrastructure and services .
“The private sector also needs to play an increased role since they are seen as the engine for growth of the economy, ‘’she said.
She called for the need to seek more proactive and innovative funding mechanisms to ensure that investments in infrastructure and service were sustained to drive the competitiveness of the continent.
The Corps Marshal, Federal Road Safety Commission (FRSC), Dr Boboye Oyeyemi, reiterated the commitment of his commission to support a better transport system that would facilitate safe movement from one point to another.
Oyeyemi said this would in the long run translate to positive effects on the economy, life expectancy, social and political spheres as well as preserve lives.