The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the resolve by the President, Major General Muhammadu Buhari (retd.) to unravel the infrastructural deficit in the country is gulping the majority of government revenue.
This was even as she said the current administration was committed to completing the ongoing legacy infrastructure projects that had been chronically underfunded by previous administrations.
The minister stated this at the Nigerian Institute of Architects Integrated Infrastructural Research for Development conference held on Thursday in Abuja.
She noted that key sectors such as power rail, roads, housing, agriculture have witnessed massive growth owing to the national development plan for 2021 to 2025.
She said, “Critical infrastructure development in our country has suffered a significant deficit and is at the heart of every policy agenda for this administration.
“Investment in critical infrastructures turns out designed to create the fiscal structures in which Nigerians can build their families and engage in business activities.
“These structures also create an enabling environment in which domestic and foreign capital can catalyze growth. So Nigeria can join the ranks of advanced industrialised societies.
“Our focus on infrastructure is extremely costly. But this has not deterred the federal government under the leadership of His Excellency President Muhammadu Buhari.
“The President and the Vice President have continued to prioritise the strategic use of our limited resources in initiating vital new projects and bringing to completion legacy infrastructure projects that have been chronically underfunded in key sectors such as power rail, roads, housing, agriculture.”