Nigeria must mobilize about $575 billion over the next 20 years to close its transport infrastructure gap, the Infrastructure Concession Regulatory Commission (ICRC) has said.
Director-General, Dr. Jobson Ewalefoh, speaking at the Second International Railway Conference, noted that annual budgets fall far below the $100 billion required yearly for infrastructure. He emphasized that public-private partnerships (PPPs) are key to bridging the shortfall, citing the Abuja–Kaduna, Lagos–Ibadan, and Warri–Itakpe rail projects as success stories.
Ewalefoh outlined a five-pillar agenda covering reforms, innovative financing, priority corridors, efficiency improvements, and climate alignment. He also welcomed the recent move allowing states and private investors to participate in railway development.
