Nigeria Needs $2.3 Trillion to Fix Infrastructure Deficit

Dele Oye, Chairman of Alliance Economic Research Ethic Ltd, revealed that Nigeria is experiencing an annual infrastructure deficit of $100 billion, necessitating an estimated $2.3 trillion over the next two decades to bridge this gap. In a policy brief titled "Broken Window," Oye criticized the government's neglect of essential public services, which has forced millions of Nigerians to assume responsibilities typically managed by the state.

He noted that Nigeria's infrastructure stock stands at only 35% of its gross domestic product (GDP), compared to 70% in developed economies, undermining economic growth and investor confidence. Oye highlighted the collapse of public infrastructure, particularly in electricity, roads, water, and healthcare, which has led to a reliance on private service providers.

He expressed concern over the healthcare crisis, citing that approximately 16,000 doctors have left Nigeria in five years, leaving only 55,000 to serve a population exceeding 230 million. Oye emphasized the urgent need for comprehensive reforms to restore public confidence and improve essential services.