Home Big Story ICT, key area of Nigeria’s N485 trillion National Master Plan, FG says

ICT, key area of Nigeria’s N485 trillion National Master Plan, FG says

ICT, key area of Nigeria’s N485 trillion National Master Plan, FG says
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The Federal Government has said that information and communication technology (ICT) will be a key focus of the National Integrated Master Plan (NIMP), the 30-year infrastructure development programme estimated to cost Nigeria N485 trillion.

Abubakar Olanrewaju Sulaiman, Minister/Deputy Chairman of the National Planning Commission (NPC), disclosed this saying that the first phase of the N485 trillion National Integrated Master Plan (NIMP) to cover between 2014 and 2018 would gulp N166 billion.

[blockquote right=”pull-right” cite=”Abubakar Olanrewaju Sulaiman, Minister/Deputy Chairman of the National Planning Commission (NPC)”]“The good thing about it is that it is going to be private, but public driven. While the public financing which covers 52% of the financing are expected to come from the Sovereign Wealth Fund and the Debt Management Office (DMO) among others, the private sector will take the remaining 48%,” [/blockquote]
The Minister, who revealed this while featuring on the ‘Good Morning Nigeria NTA Breakfast Programme in Abuja also confirmed that the Federal Executive Council has ratified the plan (2014-2043) following its adoption by the National Economic Council (NEC) two weeks earlier.

According to him, the private sector would take care of 48 percent of the 30-year developmental plan, while the public sector would finance 52 percent.

The Minister, who underscored the Federal Government’s commitment to the initiative, assured that for now, it is a policy document to be made sustainable by this Administration.

The plan, which is starting in earnest between 2014 and 2018 would implore about N166 billion on major infrastructure like transport – roads, railways, sea and airports and power – oil and gas, housing, water and ICT.

“The good thing about it is that it is going to be private, but public driven. While the public financing which covers 52% of the financing are expected to come from the Sovereign Wealth Fund and the Debt Management Office (DMO) among others, the private sector will take the remaining 48%,” Sulaiman added.

The level of Nigeria’s infrastructure today stands at 25% compared to Japan, Singapore and China with over 70%, according to the Minister.

He added that there is need for planning and that is why over a thousand stakeholders, including foreign and local consultants and politicians, irrespective of political affiliations, technocrats, bureaucrats and all others were brought into the picture by President Goodluck Jonathan to ensure that the right environment is provided.

“You will agree with me that when power for instance is fixed, other things will automatically key in. That exactly is what the Transformation Agenda of Mr. President wants to achieve in providing the right and conducive environment for both local and foreign investors,” the Minister said.

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Kayode Oladeinde Technology Journalist at Technology Times. Mobile: +234 (0) 7031526929

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