Pri­vate sec­tor will fa­cil­i­tate bud­get per­for­mance FG

The Punch - - NEWS - Olufemi Atoyebi, Abuja

The Fed­eral Govern­ment has said bud­get can only per­form at an ap­pre­cia­ble level that will trig­ger sus­tain­able in­fras­truc­tural de­vel­op­ment if the pri­vate sec­tor is pro­vided with an en­abling en­vi­ron­ment to thrive.

The Sec­re­tary to the Govern­ment of the Fed­er­a­tion, Boss Mustapha, stated this in an ad­dress he de­liv­ered at the high-level Stake­holder Re­treat on Pub­lic Pri­vate Part­ner­ship which ended in Uyo at the week­end.

In the ad­dress, which was made avail­able to our correspondent in Abuja, the SGF, who was rep­re­sented by the Per­ma­nent Sec­re­tary, Po­lit­i­cal and eco­nomic Of­fice, SGF of­fice, Gabriel Aduda, said, “Given the scale of the chal­lenge, it is widely recog­nised that the hu­man and fi­nan­cial re­sources re­quired to ad­dress this deficit will re­quire sig­nif­i­cant pri­vate sec­tor par­tic­i­pa­tion to aug­ment govern­ment’s an­nual bud­getary al­lo­ca­tion.

“In this re­gard, the Na­tional In­te­grated In­fra­struc­ture mas­ter plan es­ti­mates that 48 per cent of the $3tn re­quired to ad­dress Nige­ria’s in­fra­struc­ture deficit will come from the pri­vate sec­tor. how­ever, much more needs to be done to en­gen­der the pri­vate sec­tors in­ter­est and con­fi­dence re­quired to de­liver the much-needed lev­els of in­vest­ment.”

While stat­ing that part of the man­date of the re­treat was to ad­dress the chal­lenge, the FG said ef­forts had been made by the present ad­min­is­tra­tion to fix some of the iden­ti­fied con­straints.

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