World Bank Extends Infrastructure Loan to Nigeria
The World Bank has announced plans to provide U.S.$200 million fund to contribute towards addressing the huge infrastructure deficit in country.
The World Bank has announced plans to provide U.S.$200 million fund to contribute towards addressing the huge infrastructure deficit in country.
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i hope they wont mismanage the loan.
The Forum of Infrastructure Concession Regulatory Commission (ICRC)'s 3rd Public Private Partnership (PPP) is another reminder of Nigeria's deficit in Infratructural Development. It was opined that, Nigeria needs an annual investment of 10billion U.S.dollars in the next 10years to bridge the deficit. The panacea for financing these sectoral needs, according to Sanusi, included the use of Pension Fund, and the Islamic Bond (SUKUK). Our central Bank Governor forgot that, real development depends on Political Will, and not necessarily getting the funds from the sources he advocated. What this means is the fiscal discipline by politicians in power, to be pro-active and Patriotic in developmental orientation. One can not eat his cake, and have it. Is Sanusi telling us that, without these two sources, we can not muster sufficient resources to bolter our infrstrctural development. The fact remains that, we have not got our Priority Right. The high level of corruption hinders our development in all sectors. Our greed, avarice and selfishness bring us backward. We lack the Patriotic zeal to bring us out of the woods. We are too sentimental along ethnic, religious and regional divide for any meaningful National Development to take off. We belief in rethoric, and we are enemies to real development. How can a Nation that spends 75% of her total expenditure on recurrent expenses, leaving a meagre of 25% for capital projects, even large part of this 25% is phoney, and the funds are diverted into individual pockets of those in goverment and their cronies, hope to grow. A situation, where Stealing from the Public Till is the norm, can not bring any meaningful Development, be it Education, Health, Agriculture, Roads e.t.c. We lost our sence of Values. The present generation are failures. Most of our Leaders represent a "backward looking force." By Isunola Asi Anishere.