There has been increased emphasis on government investment in transport infrastructure and a flurry of bi-lateral deals with China and other donor nations. In 2018, a total of $8.2bn has been committed to railway transactions.
In spite of these commitments, the infrastructure gap is huge and remains a constraint to labor productivity which is still negative (-0.5%).
Road transportation remains the live wire of the economy and disruptions are playing negatively into the price stability objective of the government. Therefore a Marshall plan to invest aggressively on road maintenance and expansion from the food basket to the urban consumption centers, is now more than ever an urgent necessity.
As a result of current efforts on infrastructure, Nigeria jumped 10 places in the World Economic Forum’s Global Competitiveness Index, driven by infrastructure, ICT adoption and business dynamism.
In this edition of the FDC Monthly publication, the FDC Think-Tank analyzes these issues and their implications on businesses and the economy at large.
Enjoy your read.