National Assembly urged to appropriate more funds for infrastructure

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National Assembly, Abuja

National Assembly

An economist, Mr Boniface Ekezie, on Tuesday urged the National Assembly to appropriate more budgetary allocations for the nation’s infrastructure in order to accelerate growth in the economy.

Ekezie, President, Progressive Shareholders Association of Nigeria (PSAN), made the assertion in an interview with the News Agency of Nigeria (NAN) in Lagos.

He said that increasing the budgetary votes on power would facilitate the industrialisation of the nation’s economy.

“More investment on energy generation is required, especially on renewable energy, to expedite economic transformation in the country.

“Addressing the challenges of power will ensure the real sector operates at optimum capacity thereby creating more jobs in the process, ‘’he said.

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The economist noted that sustaining the investment on modern railway network would also accelerate economic activities and urbanisation of the hinterland.

He also said that government should implement many of its private sector led resuscitation of the airports in the country in order to increase the frequency of flights into the country.

“Carrying successfully on the economic reforms and investing in critical infrastructure will lead to the increase of the country’s Gross Domestic Products (GDP),’’he said.

The International Monitory Fund (IMF) had projected that the Nigeria’s economy will grow at 2.1 per cent in 2018.

The forecast, which represented 0.2 per cent from the 1.9 per cent projected in October 2017, was contained in the IMF world economic outlook.