NewsWhy infrastructure deficit persists —Shonekan

Why infrastructure deficit persists —Shonekan


From SUNDAY ODE, Abuja
FORMER Head of Interim
National Government (ING), Chief Ernest Shonekan, has said the nation’s infrastructural deficit will continue to persist owing to the inability to secure long term funding for infrastructural projects.
Chief Shonekan made this disclosure yesterday when he led the Governing Board of the Infrastructure Concession Regulatory Commission (ICRC), which he chairs, to present the 2011 annual report and audited financial statement of the commission to President Goodluck Jonathan at the State House, Abuja.
Shonekan also enumerated the challenges confronting the commission in the realisation of its goals to include inability to commit Ministries, Departments and Agencies (MDAs) to a stable and coherent pipeline of Private Public Partnership (PPP) and poor project preparation by MDAs.
Other challenges identified by Shonekan were inability to enforce vital aspects of the ICRC Act in its current form, absence of coherent infrastructure investment programme, non-integration of PPP projects into the national planning framework and paucity of funds for the commission’s operations.
Accordingly, he suggested that “addressing these challenges is critical to the success of ICRC and the attainment of the infrastructure component of your transformation agenda.”
The chairman of the ICRC had earlier indicated that the commission had recorded some achievements since its inauguration in 2008.
Within its first two years, “the commission recruited key staff, developed organisational processes and engaged MDAs and other stakeholders.”
It also developed a National Policy Framework for PPP, held regional engagement workshops across the country “to secure the buy-in of stakeholders” on the policy and issued operational guidelines for PPP to MDAs.
Presenting the commission’s 2011 report, Chief Shonekan said it received a little less than 1.1 billion Naira appropriated for it and expended 1.016 billion Naira.
“The sum of 325,811,000 Naira was brought forward from 2010 financial year and the balance in the capital vote of 8.5 million Naira was moved forward to 2012,” Shonekan explained. He said out of this 325,763,039.45 Naira was spent as the remaining 47,960.55 Naira “was returned to the Consolidated Revenue Fund.”


Please enter your comment!
Please enter your name here

Latest news

Bala Mohammed Is A Patriot, Will Never Decamp To APC, Northern Youth Leaders Tell FFK

By; JACOB ONJEWU DICKSON A Frontline group made up.of over 100 youth groups, Northern Youths Leaders Forum (NYLF)  has described as...

Group To Finance Minister: Stop Frustrating Nigeria’s Economic Recovery Efforts

By; JACOB ONJEWU DICKSON The Arewa Progressives Assembly has cautioned Finance Minister Hajiya Zainab Shamsuna Ahmed to "desist from introducing...

Court Orders FG, DSS, To Pay N20bn Damages To Igboho Over Unlawful Invasion Of Ibadan Residence

By; BAYO AKAMO, Ibadan  It was jubilation galore for supporters of Yoruba rights activist, Sunday Adeyemo Igboho as an Oyo...

Gov Ishaku Lauds FG’s Move To Review Revenue Allocation Formula

By; NICHOLAS DEKERA, Kaduna  Governor Darius Ishaku of Taraba State on Friday lauded the moves by the Federal Government to...
- Advertisement -spot_imgspot_img

Kaduna Assembly: We Are Leaving Substance, Chasing Shadows – NYMiP

By; USMAN NASIDI, Kaduna The Northern Youth Movement in Politics (NYMiP), has described the unending conflicts in the Kaduna State...

Senator Ita Enang Describes NIgeria’s Lawmakers As Stooges

By; PATRICK TITUS, Uyo  The Senior Special Assistant to President Mohammedu Buhari on Niger Delta Affairs, Senator Ita Enang has...

Must read

Reps identifies with President Buhari’s anti-graft crusade

By; MOHAMMED KAWU, Bauchi. Member of the National Assembly representing...

Hong Kong entrepreneurs invest in Bauchi agriculture, solid minerals

By; MOHAMMED KAWU, Bauchi. Lee Group, a Hong Kong based...

You might also likeRELATED
Recommended to you