Lagging transport infrastructure is one of the major challenges facing the Nigerian government, which continues to announce major investments to implement its policy.

The Federal Government of Nigeria has announced that it is seeking USD 35 billion in investment to begin the concrete construction of 30,000 km of roads. According to the Minister of Public Works, David Umahi, one of the options being evaluated to mobilize these funds is a partnership with a commercial bank.

"We need around $35 billion to start the planned work. If we start waiting, it could become difficult. We are considering a partnership with a commercial bank, but the Federal Executive Council has to approve it first," he said.

The plan is in line with the action program of the new regime at the helm of Nigeria, which has announced massive investment in the construction and rehabilitation of a number of trunk roads across the country's 36 states.

Despite being one of Africa's leading economies, Nigeria is still one of the countries with the least dense road networks on the continent, as demographic growth and the rapid urbanization of cities and other regions have not been accompanied by a consistent road infrastructure development policy.

Apart from the low density of the network, according to a World Bank report, the existing infrastructure suffers from a remarkable lack of maintenance, which seriously affects its efficiency.

Agence Ecofin