ABUJA – The Managing Director of Urban Development Bank of Nigeria PLC, UDBN, Mr. Adekunle Oyinloye, yesterday said that Nigeria’s infrastructural deficit is estimated to be in excess of $200 billion (more than N30 trillion).

In a key note address at the opening of a three-day workshop on “Pension funds investment in infrastructure,” organised by UDBN in collaboration with the National Pension Commission, PENCOM, Oyinloye said there was an urgent need for increased private sector participation alongside the public sector in arresting the nation’s infrastructural decay.

He said: “It is no longer news that the extent of financing required to bridge the country’s infrastructure deficit surpasses the supply of capital available from government”.

He added that it was essential for infrastructure investors to access the nation’s N2 trillion plus “pension fund pot” which, he believed, would provide a “win-win” solution to both pension fund managers looking for long-term steady investment returns and infrastructure sponsors looking for appropriately priced long-term funds.