Edun emphasised the vital role the financial sector must play in closing this infrastructure gap, recommending that Nigerian banks explore alternative financing mechanisms, including the issuance of long-term infrastructure bonds and the formation of public-private partnerships.
“Infrastructure financing is another pressing issue, with Nigeria needing about $100bn annually to address its infrastructure deficit,” Edun stated.
She further explained that the recapitalisation of Nigerian banks will significantly boost their capacity to meet the financing needs of crucial sectors amid a broader push to enhance Nigeria’s private sector credit, which currently stands at just 13 per cent of the country’s Gross Domestic Product.
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