By Emeka Anaeto, Business Editor

Infrastructure development is a key driver for progress across the African continent and a critical enabler for productivity and sustainable economic growth. It contributes significantly to human development, poverty reduction, and the attainment of the Millennium Development Goals (MDGs).

Moreover, it enables advancement and improvement in various aspects of life, including living standards, job styles, behavioural patterns (morals, values, and principles), technology, education, and patterns of relationship.

By traversing this course, society strives to innovate and use its resources, patterns, techniques, and knowledge from the past, present, and future as it modernizes.

Infrastructure plays a key role in economic growth and poverty reduction. Conversely, the lack of infrastructure affects productivity and raises production and transaction costs, which hinders growth by reducing businesses’ competitiveness and governments’ ability to pursue economic and social development policies.

Globally, governments worldwide are directly involved in modernization and infrastructural growth, which act as catalysts for the development of a nation, state, or community.

Most times, this is done in conjunction with the private sector, involving the urgent creation of adequate and efficient infrastructure, particularly of energy, roads, telecommunications, water supply, railways, healthcare, education, and financial services, to bring about a developed economy.

As highlighted by the McKinsey Global Institute in 2020, the world spends more than $2.5 trillion a year on infrastructure, but $3.7 trillion a year will be needed through 2035 just to keep pace with projected gross domestic product (GDP) growth.

It pointed out that infrastructure has a socio-economic rate of return of around 20 percent. In other words, $1 of infrastructure investment can raise GDP by 20 cents in the long run.

In the context of the United States economy, infrastructure investments have historically been a key factor in sustaining long-term growth, particularly within vital industries such as oil and gas.

In the United Kingdom, total market sector investment in infrastructure in 2023 was £13.8 billion in constant prices, up 3.9% from 2022; and market sector net stocks of infrastructure were estimated at £350.2 billion in 2023 in constant prices, up 0.3% from 2022.

Since 2020, annual total market sector net stocks of infrastructure have increased by 0.2% on average, in constant prices; while total general government investment in infrastructure rose by 9.6% to £26.0 billion in current prices in 2022, relative to 2021.

Succinctly, the China infrastructure market size is forecast to increase by $269.24 billion at a compound annual growth rate (CAGR) of 4.65% between 2023 and 2028. It is experiencing significant growth driven by the adoption of smart city technologies and extensive government-led initiatives. This is in sectors such as smart transportation, energy, and water supply, which is creating new opportunities for market expansion.

Consequently, there are challenges in the quest for infrastructural growth, which includes issues related to the financial viability of infrastructure projects. The high cost of construction and the need for long-term financial sustainability remain major concerns for stakeholders. Despite these challenges, the market is expected to continue its growth trajectory, fueled by the government’s investment in infrastructure development and the increasing demand for modern, efficient, and sustainable infrastructure solutions.

In Africa, the need to bridge the gap in development paved the way for the Programme for Infrastructure Development in Africa (PIDA), a continental initiative adopted by all African countries to mobilise resources to transform Africa with modern infrastructure.

At the 18th Ordinary Session of the African Union (AU) held in Addis Ababa, Ethiopia, on 29-30 January 2012, the AU Heads of State and Government formally endorsed the PIDA programme through the adoption of the “Declaration on the Programme for Infrastructure Development in Africa.”

But three main challenges are being faced in the African continent in attaining the desired development which includes, the extent of the funding to be mobilised towards infrastructure development, good governance for the management of such funds, and the difficulties in adopting a regional approach.

Despite the difficulties in attaining the right growth architecture in Africa, and in Nigeria, there are drastic changes in the country with infrastructural expansion by governments at the state level.

In light of this, great works have been done by Lagos State Governor, Babajide Sanwo-Olu, who is taking pragmatic steps in transforming Lagos state into what a modern state should be. Other governors are also taking giant strides in bracing up with up-to-the-minute facilities to make their states more developed.

Impressively, Governor Chukwuma Soludo of Anambra State, a former Central Bank Governor, who, through the banks’ recapitalisation process transformed the financial institutions into what they are today, as strong and dependable, has left an indelible footprint for posterity, by making the state a destination and not a departure lounge.

Like the Late Lee Kuan Yew, former Prime Minister of Singapore, who is termed the founding father of the country, who transformed it into what it presently is today, and in his quote “The task of the leaders must be to provide or create for them a strong framework within which they can learn, work hard, be productive and be rewarded accordingly. And this is not easy to achieve,” Governor Soludo is making great moves in building a new Anambra.

Professor Soludo who is the fifth governor of Anambra State under the present democratic dispensation, has performed excellently to the admiration of the indigenes of the state, with various projects being constructed and others ongoing, and in the area of roads, hospitals, schools, innovation centres, amusement parks, technology advancements, power supply, and empowerment, among others.

In the health sector, contracts were awarded for the supply and installation of equipment at the Anambra State College of Health Technology, Obosi, while primary healthcare centres have been upgraded, and five new general hospitals of world-class built with skilled personnel.

In addition, Anambra state has employed 1,000 health workers, including doctors, nurses, consultants, pharmacists, and medical laboratory technicians, and introduced telemedicine for efficient healthcare solutions. 

Due to his unwavering commitment to improving the healthcare sector, Soludo emerged as the best-performing governor in primary healthcare delivery in Nigeria. Anambra State received a total of $1,200,000, for the awards, $500,000 for the feat in the Southeast, and $700,000 for overall excellence in the Primary Healthcare Leadership Challenge.

Soludo, who is a labour-friendly governor not only paid the minimum wage to workers, he adjusted pensions upward to give pensioners in Anambra State higher take-home.

He has equipped 60 secondary school laboratories with the required Science, Technology, Engineering, and Mathematics (STEM) equipment, and increased the operational budgets for primary and secondary schools to ensure they deliver the quality education promised.

Also, twenty-two (22) secondary schools will be transformed into smart schools (with many more to follow in the new year), setting a standard for what an ideal school should be. Free education policy has been extended up to Senior Secondary School Year 3 (SS3) and the state has recruited an additional 3,115 teachers, increasing the number to 8,115.

The Soludo administration has restored electricity to the Uli campus of the Chukwuemeka Odumegwu Ojukwu University, in Ihiala Local Government Area, after 21 years of blackout, and access to the internet and WiFi in public places within the institution.

With Soludo at the helm of affairs of Anambra, the State, through its innovation and entrepreneurship drive, has initiated the ‘One-Youth-Two-Skill programme, Code Anambra, a training scheme for skills acquisition, and the ‘One Million Digital Tribe’ for digital training through the Solution Innovation District (SID), where graduates of the various schemes were rewarded with cash prizes and equipment worth millions of Naira for business enhancement.

On road infrastructure, existing projects are being completed while new ones are initiated, with approximately 310 kilometers already asphalted in 30 months, and with unparalleled quality. The Ekwulobia flyover and bus terminal are nearing completion. The dualisation of the 34-kilometre federal highway from Amawbia through Agulu, Ekwulobia, and Uga to the Imo State border, as well as the dualisation of 36 kilometer road from Nwagu Agulu-Nnobi-Nnewi, Ozubulu to Okija, linking to the Onitsha-Owerri highway, are game changing road infrastructure.

Anambra State Executive Council (ANSEC) has approved the N2.1 billion road construction of the Trans-Nkisi Boulevard 1 road, GRA Onitsha as part of Governor Chukwuma Soludo’s ongoing infrastructure revolution.

He has released funds to construct more roads including, the Nanka-Aguluzigbo-Umuona road; the Mbaukwu-Awgbu-Amaetiti-Okpaeze road, measuring about 16.37 km with a 22-meter, 1-span bridge; the 4.56 km Azigbo-Awka Etiti-Amichi-Onuselogu road; the 3.57 km Igboukwu-Amichi-Ekwulummili road, covering two local governments of Aguata and Nnewi South; as well as Nteje-Otuocha road.

Recently, the Governor commissioned the 11.9km Mmiata-Anam-Nzam road, which links to the headquarters of Anambra West Local Government Area (LGA).

Others for rehabilitation are the 19.1 km Awkuzu-Igbariam-Anaku rink road; strategic Seven roads in Omagba, Onitsha; the reconstruction of the 1.6 km New Market Road, Onitsha; and the Aguleri Uno to Aguleri Otu road.

Governor Soludo has also completed the 12.5km Ezira-Umuomaku-Enugu Umuonyia-Achina road, linking several communities.

Also, the building of a new government house located on 28.8 hectares of land is touted as one of the largest in Nigeria.

At the recent Anambra Innovation week, for startups, entrepreneurs, and innovators to showcase their ideas, connect with investors, and access valuable resources and mentorship, Soludo, in his move at growing the state’s economy, announced partnership with Meta, a technology company, to foster a culture of innovation and entrepreneurship for the people. With this, Anambra State aims to leverage Meta’s cutting-edge technology and expertise to drive economic growth, create jobs, and improve the overall quality of life for its citizens.

The Solution Fun City, primed to be the biggest in West Africa, is quickly becoming a dream come true, while ongoing projects to make Anambra a destination include, the 10-storey Marriott Hotel in Awka; the 20-hectare Awka City Leisure and Entertainment Park which is being designed with up-to-the-minute technology; the workaround Agulu Lake; the master plans for the four of Anambra’s historic tourist sites which are being undertaken by an international consultant; the quality road network around the state capital Awka, and other developmental projects of global standards.

Under Soludo, Anambra State’s cultural troupe attained recognition as the most creative at the National Festival of Arts and Culture (NAFEST), held in Abuja recently. He is believed to have facilitated the appointment of Mr. Mark Okoye, the Managing Director of the Anambra State Investment Promotion and Protection Agency (ANSIPPA), as the new Managing Director/CEO of the Southeast Development Commission (SEDC) by President Bola Ahmed Tinubu.

It has been gathered that in spite of the governor’s numerous projects, he has not borrowed any money, a testament to his commitment to prudent and effective governance policy which has earned him accolades from the people of Anambra State, who see him as a solution provider.