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FG Needs $2.3trn In 30 Years To Address Infrastructure Deficit, Osinbajo Alerts

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The Vice President, Prof Yemi Osinbajo, yesterday, said Nigeria required $2.3trillion over the next 30 years to address the infrastructural deficit confronting the country.
He said since government’s resources were completely insufficient, the only way to bridge the gap was by Public-Private Partnership arrangement in one form or the other.
According to a statement by his Senior Special Assistant on Media and Publicity, Laolu Akande, the Vice President spoke at the opening of a two-day retreat of the National Council on Privatisation, which will among other things, deliberate on the proposed amendment of the Public Enterprises (Privatisation and Commercialisation) Act 1999.
The statement was titled, ‘How to access local, global funds to develop Nigeria’s infrastructure, by Osinbajo’.
According to the statement, Osinbajo cited statistics from Nigerian Integrated Infrastructure Masterplan and the Economic Recovery and Growth Plan 2017-2020 to buttress his point.
He was quoted as saying, “Nigeria will require at least $2.3trillion over the next 30 years to bridge this gap.
“The review of budgetary allocation for capital expenditure even over the past decade will show that government resources are completely insufficient for this purpose.”
Osinbajo added that while government can take either commercial or concessionary loans for infrastructure development that will be an additional burden on a usually considerably leveraged balance sheet.
He added, “There is a large pool of investable funds from both local and international investors for the development and maintenance of infrastructure.
“But these are only accessible where there is a business case to be made for developing public infrastructure.
“So, for both institutional and individual investors, there is far more comfort with lending or with equity participation where a private sector entity partners with a public authority owner of the infrastructure.
“This way the public partner can play its natural role of a regulator (regulation and policy), leaving business to the private sector whose reason for being is business. So, for investors, PPP presents the best of both worlds.”

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Fubara Seeks Media Support Towards Rivers Dev …Commends National Network For Vibrancy 

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The Rivers State Government has called on the media to support its efforts towards the promotion of good governance and development of the State.

The State Governor, Sir Siminalayi Fubara, made the call during the 21st anniversary celebration of The National Network newspaper in Port Harcourt, last Wednesday.

The governor, represented by the Permanent Secretary, Rivers State Ministry of Information and Communications, Dr Honour Sirawoo, urged the media to be responsible in its reportage, and contribute towards the growth and development of the State.

He said the government relies on the media to tell the story and enlighten the people on the activities of the government, promote good governance in the society, while at the same time playing the role of a watchdog.

He also urged the media to ensure clarity, honesty and transparency in the discharge of it functions.

Speaking on the theme of the anniversary, “Media Governance and Public Good, 21 Years of National Network in Shaping Civic Participation”, the governor commended the National Network newspaper for its vibrancy and consistency in contributing to the state democratic landscape.

He noted that the media outfit has emerged as one of the strongest pillars in the growth and development of the State.

The Chairman of the anniversary celebration and former Commissioner for Information and Communications in the State, Pastor Paulinus Nsirim, also commended the staff and management of the National Network for their resilience, and for remaining professional in the last 21 years.

He particularly praised the publisher of the newspaper, Pastor Jerry Needam, for demonstrating professionalism in the discharge of his duties, urging him to sustain the tempo.

In his remarks, the Editor-In-Chief of the National Network, Dr Chris Okonkwo, said for the past 21 years, the newspaper has maintained its constant presence in the newsstand, and also contributed so much towards the improvement of the society despite the economic downturn in the country.

According to him, “we are celebrating 21 years of uninterrupted presence in the newsstand despite the economic downturn and paucity of funds.”

He commended the state government for its support to the newspaper over the years, adding that the celebration was also a victory over police harassment.

The highpoint of the anniversary was the presentation of awards to some individuals for their contributions towards the growth of the media.

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Troops Rescue 12 Abducted Teenage Girls In Borno 

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Troops of Operation Hadin Kai have rescued 12 teenage girls abducted by Boko Haram/ISWAP terrorists in Mussa District of Askira/Uba Local Government Area of Borno State.

In a statement posted on its official Facebook page, yesterday, the Nigerian Army said the victims who were rescued on Saturday, had been evacuated to a secure facility where they are receiving comprehensive medical care, psychological support and debriefing.

“Upon completion of these processes, they will be formally reunited with their families. Their recovery has brought immense relief to the community, which had been gripped by fear following the abduction,” it added.

The statement read, “The Nigerian Army has successfully rescued 12 teenage girls abducted by Boko Haram/ISWAP terrorists in Mussa District of Askira/Uba Local Government Area, Borno State.”

According to the statement, the victims, aged between 15 and 20, were kidnapped on 23 November while harvesting crops on their family farmlands.

They were freed on Saturday, 29 November, following a swift, intelligence-led operation by troops of Operation HADIN KAI in the southern Borno axis, it noted.

The statement listed the rescued victims as: Fatima Shaibu (17), Fatima Umaru (15), Hauwa Abubakar (18), Saliha Muhammed (15), Sadiya Umaru (17), Amira Babel (15), Zara Adamu (17), Nana Shaibu (15), Zainab Musa (18), Zainab Muhammed (17), Jamila Saidu (15) and Hauwa Hamidu (17).

It further stated that the military high command commended the doggedness of the troops for their swift response, and acknowledged the crucial support of security stakeholders and local informants whose timely intelligence enabled the successful rescue.

“Troops continue to pursue ISWAP remnants across southern Borno to prevent further attacks and safeguard civilians.”

“The Nigerian Army calls on communities to continue supporting ongoing operations by providing credible and timely information, emphasising that collaborative efforts are essential to defeating terrorism and ensuring lasting security,” the statement concluded.

 

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NELFUND Disburses N140bn Loan To 788,947 Students

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The Nigerian Education Loan Fund (NELFUND) said it has disbursed N140.9 billion in student loans to beneficiaries since the scheme’s portal was launched on May 24, 2024.

According to the Daily Status Report released yesterday via its official X handle, NELFUND has received 1,193,228 applications, of which 788,947 students have benefited from the programme.

As of November 12, 2025, the report shows 35,773 new successful applications for the week and 3,367 on that day, representing a 0.3% increase in new applications from the previous day.

NELFUND said it has paid N140,884,471,740 to 262 institutions as tuition fees, including N88,947,000 as institutional fees and N53,776,000,000 in upkeep allowances.

The fund plans to extend its student loan scheme to cover vocational and skills acquisition programmes.

The Managing Director of NELFUND, Akintunde Sawyerr, disclosed this in an interview with the News Agency of Nigeria in Abuja, saying the extension aligns with the Federal Government’s broader education and skills development agenda.

He added that the move reflects President Bola Tinubu’s commitment to inclusive human capital development beyond traditional university education.

According to Sawyerr, Nigeria’s next phase of development requires a balance between academic and technical competence.

“At NELFUND, we have a mandate to also support vocational skills.

“We have not started yet, but I know that the President Bola Tinubu administration has ensured that there is full coverage around the skills issue,” he said.

 

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