Home NewsNational News Osinbajo Lists FG’s Achievements in Infrastructure Development

Osinbajo Lists FG’s Achievements in Infrastructure Development

by OtownGist
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Vice President, Prof. Yemi Osinbajo has enumerated the achievements of this administration in infrastructure development.

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He stressed that the infrastructure development were part of the efforts to lift 100 million Nigerians from poverty.
Osinbajo, who was represented by the Minister of State for Works and Housing, Mr. Abubakar Aliyu, spoke while delivering his keynote address at the Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV), which took place in Abuja.

According to him, some of the infrastructure included the commencement of the 156Km Lagos Ibadan rail service and the completion and commissioning of 327 km Itakpe–Warri Standard Gauge Rail after 33 years of abandonment by previous administrations.
He added that the ongoing construction of Kano-Maradi railway, commencement of work on Port-Harcourt Maiduguri railway lines, ongoing negotiation on the Ibadan–Kano standard gauge rail projects and the Abuja light rail project which was completed in 2018, were some major landmarks of the current administration.
On roads, he said the government created the Presidential Infrastructure Development Fund (PIDF), investing over $1 billion in three flagship projects: the Lagos-Ibadan expressway, Second Niger Bridge and the Abuja–Kaduna roads.

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Osinbajo called on the institute to consider ways to partner with government at all levels to optimise benefits in the real estate sector for the benefit of the nation.
He listed potential areas of partnership to include the Buhari led administration’s vision to take 100 million Nigerians out of poverty in 10 years since government is looking up to investment in infrastructure as a tool to realising the vision.

He mentioned the National Social Housing Programme (NSHP) which is a component of the national post-COVID Economic Sustainability Plan (ESP) as another area of partnership.
The vice president explained that the plan was created to accelerate ongoing efforts by the government to improve access to social housing.

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He added that government intended to stimulate local production by engaging small and medium size construction firms to produce construction inputs such as tiles, nails, doors, windows and paint as well as building affordable houses across the country.

According to him, the Nigerian Mortgage Refinancing Company (NMRC) was created to develop the secondary market to refinance mortgages, asking NIESV to undertake advocacy with stakeholders both in the public and private sector to promote legislation that will provide support for the company.

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In his speech, the Minister of Works and Housing, Mr Babatunde Fashola, who was represented on the occasion by the Director, Special Projects Unit of the Ministry, Dr. Aisha Mohammed, revealed that conscious efforts were being made in respect of accessibility, affordability and security of land tittles.

Fashola disclosed that between July 2018 and May 2021, the ministry processed and issued 4,628 Certificates of Occupancy and 2,230 consents to secondary land transactions, adding that the titles can be used by holders to access investible loans to start new businesses or grow existing ones, thereby expanding the economy.

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He disclosed that the Ministry was engaging estate surveyors and valuers in implementing the valuation of federal government assets for purposes of International Public Sector Accounting Standard (IPSAS).
In his welcome address, the President of the institute, Mr. Emmanuel Wike said the association had positively and progressively impacted the Nigerian landscape with several achievements and contributions.
He added that the conference would provide opportunities for networking, expansion, deepening of knowledge and professional development.

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