Minister woos lawmakers on infrastructure funding

The Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, is seeking the support of legislators on public infrastructure financing.

She made the call at a two-day retreat by the Budget Office of the Federation (BOF)/National Assembly Appropriation Committee on the Budget Process with focus on Strengthening Public Investment Management (PIM).

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A statement by Yunusa Tanko Abdullahi, Special Adviser, Media and Communications, said the minister also called for more oversight from the legislators.

“In a developing economy such as ours, the provision of infrastructure is usually a cardinal objective. This is mainly due to the multiplier effect of the provision of roads, rails, schools, hospitals, etc for the growth and development of the economy,” she said.

She said engaging in such huge public investment in infrastructure requires a management system and structure to maximise value, which was why the PIM Units were created.

She said strengthening the PIM system will reduce infrastructure deficit, increase transparency in project selection, develop practical tools and information technology (IT) systems for managing public investment, among others.