ABUJA - Experts said on Tuesday that Nigeria's infrastructure deficit would hit $2.3 trillion by 2043 if not addressed adequately.
This was revealed during a high-level pre-summit dialogue on 'Catalysing Bankable PPPs through the Infrastructure Project Preparation Facility' ahead of the 31st Nigerian Economic Summit (NES #31), convened by the Nigerian Economic Summit Group, NESG, in collaboration with the UK Nigeria Infrastructure Advisory Facility, UKNIAF., in Abuja.
The dialogue brought together policymakers, development partners, financiers, and private sector stakeholders to address the estimated deficit under the National Integrated Infrastructure Master Plan, NIIMP.
Discussions centred on the role of Public-Private Partnerships, PPPs, and the need for stronger project preparation to attract private capital.
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In his address of welcome, the Board Director, NESG, Nnanna Ude, stressed that unlocking private capital through well-prepared projects is critical to achieving inclusive and sustainable development.
Ude reiterated NESG's commitment to advancing reforms that strengthen Nigeria's investment climate and infrastructure competitiveness.
Delivering the keynote, the UKNIAF team led by Abdul Oladapo highlighted that weak project preparation remains Nigeria's biggest barrier to effective PPPs.
Poorly structured proposals, limited feasibility studies, and weak institutional capacity continue to deter investment. They called for systematic approaches to upstream project preparation through the Nigeria Project Preparation Facility, NPPF, backed by the Federal Government's ₦42 billion allocation in the 2024 and 2025 budgets.
Previous interventions by institutions such as the International Development Association, IDA, and the Public-Private Infrastructure Advisory Facility, PPIAF, were noted as having delivered limited impact due to similar gaps.
A high-level panel session on 'Strengthening Nigeria's PPP Pipeline - Institutional Perspectives', moderated by the Thematic Lead, NESG Infrastructure and Allied Services Policy Commission, Engr Nyananso Gabriel Ekanem, featured experts from government, finance, and development sectors.
Key insights included the need for stronger risk assessment and technical expertise to improve bankability, ICRC, embedding effective risk-sharing mechanisms into contracts, REA, creating recycling funds from successful transactions and leveraging climate finance (PPP specialists), and establishing implementing entities that integrate skills and co-develop projects to safeguard capital (AFC).
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Meanwhile, Panelists collectively emphasised that robust institutional frameworks, technical capacity, and de-risked pipelines are essential to mobilising long-term capital.
Earlier, Saadiya Aliyu, Facilitator of the NESG Infrastructure & Allied Services Policy Commission, called for stronger collaboration between government, private sector, and development partners to drive sustainable infrastructure growth.
The dialogue concluded with a unified call to prioritise bankable project preparation as the foundation for unlocking Nigeria's infrastructure transformation.
The deliberations will shape discussions at NES #31, with the theme 'The Reform Imperative: Building a Prosperous and Inclusive Nigeria by 2030', scheduled for October 2025.
