Home Business Poor infrastructure costs Nigeria $17.1b yearly -AFDB

Poor infrastructure costs Nigeria $17.1b yearly -AFDB

by Kunle Awosiyan

The African Development Bank (AfDB) says Nigeria loses about four percent of her Gross Domestic Product growth annually because of poor infrastructure.

This amounts to $17.1 billion yearly using the 2020 GDP figures.

The AfDB President, Dr. Akinwumi Adesina, said this as a panelist at an investors Webinar to showcase the investment opportunities from the Federal Government’s reform and privatization.

Nigeria’s infrastructure deficit he lamented “is one of the main constraints to industrial development and national competitiveness. Estimates indicate that Nigeria’s infrastructure constraints cost the country around four percent of its yearly Gross Domestic Product growth”

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