Infrastructure inefficiencies choking Africa

By David Agba  /  Senior Correspondent, Abuja


Africa’s staggering infrastructure inefficiencies have been choking integration efforts, stunting growth and sapping national resources, both public and private.

Chief Executive Officer of Preston Consults, Dr Tochukwu Nwachukwu, stated this yesterday in Abuja at the press briefing to herald the forthcoming public policy conference tagged “Developing Africa Through Innovative Infrastructure Financing,” billed for November 13, 2014 at Transcorp Hilton Abuja.

He said that the essential benefits of regional infrastructure was to make possible the formation of large, competitive markets in place of the present collection of small, isolated and inefficient ones.

To this end, Preston Consult, in partnership with the Federal Ministry of Power, Africa Finance Corporation, Nigerian Export Promotion Commission, Finance Correspondents Association of Nigeria and others have taken the initiative to tackle this issue head on.

According to him, the conference aims to stimulate dialogue amongst investors, financiers, policy makers, infrastructure providers investors and development partners to kindle innovative ideas and solutions.

Also speaking, Senior Special Adviser to the Power Minister on Gas, Frank Edozien maintains that unless Nigerians pay the right price for power consumed, the sector would not grow beyond what it is now.

The minister’s aide also stressed the need for the metering system not to be based on estimated billing, but actual utilization.

Source : Independent

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