FG to spend N3.53trn on infrastructure, human capital development

The Federal Government plans to spend about N3.53 trillion on infrastructure and human capital development in 2022
to engender and accelerate economic growth as well as enhance inclusive growth for all.

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed stated this Tuesday at a Town Hall meeting on the achievements of her Ministry and the Federal Government in infrastructure development of the country.

She said Nigeria’s economy and population remain the largest in Africa with “over $400 billion in GDP and over 200 million people, stressing that the country’s huge and growing population offer both an economic challenge and opportunity, in the light of constrained revenue proceeds brought on by several multi-dimensional factors, including the global pandemic and its impact on the domestic economy”.

Against this backdrop of challenges, she pointed out that the administration has successfully implemented a range of infrastructure programmes that have had a positive impact on the lives and livelihoods of the citizenry.

She reiterated that good quality infrastructure is important, not only to engender and accelerate economic growth but also to ensure and enhance inclusive growth for all within a nation space.

“Subsequently, this Administration continues to prioritise spending on infrastructure and human capital to catalyze rapid economic development. In 2022 alone, we plan to spend about N1.42 trillion on infrastructure and N2.11 trillion on human capital development”, Mrs Ahmed said.

She commended the Minister of Information and Culture and the Ministry for organising and hosting the meeting, stressing that “it is indeed very important to sensitise the impacted communities, key stakeholders, the public and the nation on the infrastructure projects and programmes undertaken by this Administration to create the enabling environment for socio-economic growth and development.”

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