By Folasade Akpan
Over the years, the challenge of providing adequate infrastructure for Nigerians has been a herculean task for government at all levels and the Federal Government has at several occasions called on organisations to help in bridging the gap.
The Vice President, Prof. Yemi Osinbajo, at an event in 2020 said that in spite of government interventions over the years, Nigeria still faces a huge infrastructural deficit, which is constraining rapid economic growth.
He had said that according to the Nigerian Integrated Infrastructure Masterplan (NIIMP) and the Economic Recovery and Growth Plan (ERGP), Nigeria needs up to three trillion dollars over the next 30 years to bridge its infrastructure gap.
The PFI has also facilitated an increase in the number of participating blending plants also increased to forty-four from less than seven at inception.
Second Niger BridgeThe devastating impact of the COVID-19 pestilence on the global economy is obvious. Reason finance experts rightly predicted that many corporations’ finances in 2020 would be in red. The International Monetary Fund did predict that the global economy would contract by three percent as countries around the world shrink at the fastest pace in decades.
The IMF described the global decline as the worst since the Great Depression of the 1930s. x
It said the pandemic had plunged the world into a “crisis like no other”.
The Fund added that a prolonged outbreak would test the ability of governments and central banks to control the crisis.
FG s investment authority grows revenue by 343% to N160bn punchng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from punchng.com Daily Mail and Mail on Sunday newspapers.
Against the backdrop of a directive by President Muhammadu Buhari to undertake an overhaul of the Presidential Fertiliser Initiative, the Nigerian Sovereign Investment Authority saddled with the task, taking up the gauntlet, has recently gone to work, writes Emmanuel Addeh
It is said that the Nigerian fertiliser industry has a blending capacity of four million tons of Nitrogen, Phosphorus and Potassium (NPK) annually and two million tons of production capacity for urea, with the capacity to employ over 250,000 people in both direct and indirect jobs across the country.
However, before the implementation of the Presidential Fertiliser Initiative (PFI), only 10 per cent of the production capacities of the blending plants in operation across the country were being utilised.