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Infrastructure, bedrock of socio-economic devt, says Shonekan

By Innocent Anaba
FORMER Head of the Interim Government, and Chairman, Infrastructure Concession Regulatory Commission, ICRC, Chief Ernest Shonekan, has said that infrastructure services in both the economic and social sphere remain the bedrock of any socio-economic development as well as a key indicator of a nation’s developmental status.

But Governor Babatude Fashola of Lagos State, however, listed raising funds for execution of projects and legal bottleneck as some of the challenges facing the Public Private Partnership, PPP, projects in Nigeria.

Chief Shonekan also said that public funding was not the only constraint to the provision of public infrastructure, but that public provision of services had generally proved to be wasteful and inefficient even in developed economies due to ubiquitous bureaucracy and red tape.

Speaking at the PUNUKA Attorneys & Solicitors 2010 yearly lecture, entitled: “The Prospects for Infrastructural Development in Nigeria: Using the Lagos Light Rail as a Case Study” in Lagos, Tuesday, Chief Shonekan said: “To transform and modernise our economy and our vison to become one of the 20 top economies in the world by 2020 will be mere pipe dreams unless we are able to dramatically scale up our infrastructure services in all sectors.

“Without a quantum increase in the availability and quality of electricity, roads and rail transportation, the productivity of our special services, the productivity of our industries will remain abysmal and uncompetitive.

Governor Fashola, who was represented by the Managing Director of the Lagos State Metropolitan Transport Authority, LAMATA, Mr Dayo Mobereola, however, listed fund-raising for execution of projects and legal bottleneck as some of the challenges facing the Public Private Partnership, PPP, projects in Nigeria.


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