The Minister of Finance, Dr. Ngozi Okonjo Iweala, on Monday said Nigeria needs $14 billion to implement its infrastructure development master plan.
According to the Minister, Nigeria needs Private Public Partnership – PPP – to effectively drive the plans, as budgetary allocations alone cannot achieve the goals.
Iweala noted that the government was looking to make Nigeria a hub for such projects across West Africa.
The minister, who was at a public private partnership capacity building training organised by the African Development Bank in Abuja, said some challenges had made PPP projects unsuccessful in the past.
She highlighted legal complications and expected rates of returns as some of the major problems hindering progress.