The Minister of Budget and National Planning, Senator Udo Udoma has said that the Federal Government is hopeful of increased private sector investment in the infrastructural sector of the economy following its efforts in galvanising the sector.
Senator Udo Udoma said this on Thursday while receiving the report of the 3- Day Pre- Summit Workshop from the Infrastructure Public- Private Partnership Summit Group led by Barrister Abubakar Mahmoud, SAN.
The Minister said, “We are optimistic that the level of private sector investment in the infrastructural sector of the economy will increase following our efforts in galvanising the sector to develop our economy’’
Senator Udo Udoma stressed the significance of infrastructure, describing it as capable of turning around the economy hence the idea of this administration in allocating a huge percentage of the 2016 budget to the sector.
On the recent issue of the GDP which saw South Africa overtaking Nigeria, as the country with the biggest economy, he said that it should motivate us to work harder arguing that the country has the capacity, energy and enterprise to be number one in Africa.
He assured of government support and determination to turn around the economy as well as remove economic bottlenecks.
Earlier in his remarks, the Chairman of the group, called for pooling of resources and expertise to improve Public Private Partnership in Nigeria.
He also stated the need to raise the standard of PPP projects in Nigeria and called for strong political commitment in this regard.