Infrastructural development - Vice President Mohammed Namadi Sambo has described the private sector as key to rapid development of infrastructure in the country considering its percentage of investment finance.
The Vice President made this known at the Banquet Hall of the State House in Abuja, on Thursday, January 31, in a keynote address he delivered at the inauguration of the National Steering Committee, Business Support Group, Technical Working Group and the Technical Working Groups for the Development of the National Integrated Infrastructure Master Plan (NIIMP) under the National Planning Commission.
VP Sambo who is the chairman of the National Planning Commission, stated that the private sector was the largest source of investment finance and that the inauguration of the Project Development Structure would mark the beginning of a process that demonstrated the administration’s commitment to growing and developing the economy; and that the private sector was expected to play an increasing role in investment finance.
“It is our fervent hope that with the NIIMP, the contribution of the private sector will increase phenomenally,” said the Vice President
The Vice President further restated the commitment of the administration to continue the pursuit of people-centered policies and programmes that would accelerate economic growth with a corresponding increase in wealth and job creation to enhance and sustain the well-being of Nigerians.
Arc Sambo congratulated the members of the newly inaugurated committee and urged them to be part of history by working hard to produce the first integrated infrastructure master plan for the country.
“The NIIMP will be a legacy, which every well-meaning Nigerian will like to be associated with,” said the Vice President.
The NIIMP is a brainchild of this administration under the National Planning Commission. It is a thirty-year development plan set up in September 2012 to address the infrastructure deficit of the country. Its objectives are to:-coordinate approach to physical infrastructure for sustainable development; strengthen linkages between infrastructure sectors and the national economy; harmonize and integrate various infrastructure plans; prioritize projects and programmes; promote private sector participation; strengthen the policy, legal, regulatory and institutional frameworks and; enhance performance and efficiency of the economy.
The committee is expected to complete and submit its assignment by April 2013 and the implementation of the 30-year master plan to commence in 2014.