A new impetus for Nigeria’s economic growth is underway as stakeholders in infrastructure development in Nigeria gather in Lagos next week for the Global Property Partners (GPP) summit whose focus and centre of discussion will be on how to catalyse economic growth through infrastructure development.
GPP, a consortium of firms with diverse interests in real estate and infrastructure development, is a relatively young company that is concerned about Nigeria’s infrastructure deficit. Its forthcoming infrastructure summit is planned as a platform for key players in infrastructure finance and development industry to discuss this important sector of the economy.
The summit, which expects Vice President Yemi Osinbajo as Special Guest of Honour, is an initiative of a number of private and public sector institutions including one of the leading real estate firms in Nigeria, Deluxe Residences, while other partners include the Diaspora Innovation Institute and Office of the Special Adviser to the President of Nigeria on Foreign Affairs and the Diaspora
With the theme, ‘Infrastructural Development as Catalyst for Economic Growth’, the summit “focuses exclusively on creating avenues that generate sustainable income and wealth through global partnerships, innovation and sound investments; it is aimed to create a platform for the engagement of global institutional investors for infrastructure development”, says Emmanuel Odemayowa, Managing Director/Chief Executive of GPP.
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Odemayowa noted at a press briefing in Lagos recently that the value of Nigeria’s total infrastructure stock, including road, rail, power, airports, water, telecoms and seaports, is estimated at only 35 percent of GDP, as against peer emerging market countries average of 70 percent.
“Nigeria needs to invest $3 Trillion in infrastructure over the next 30 years to optimize the contribution of these critical sectors of the economy. It is, therefore, critical that Nigeria leverages on private financing opportunities for infrastructure development from global institutional investors through Public Private Partnerships (PPP)”, he said, adding, “the 2017 GPP summit aims to raise partners to finance the National Economic Recovery Goals with regards to infrastructure development”.
Among the issues to be discussed at the summit are Investment Opportunities in Africa and Beyond; Mobilizing Institutional Investments for Infrastructural Development and Current Government Policies and Regulations on Public-Private Partnerships.
Speakers are expected from both Nigeria and the international community who will be making presentations. They include Zhao Changhui of China EximBank, David Smith of the British African Business Alliance and the Minister of State for Power, Works & Housing, Mustapha Shehuri.
Others are Bismarck Rewane of Financial Derivatives Company, Joseph Nnanna, Deputy Governor, Financial System Stability of the Central Bank of Nigeria, Yewande Sadiku, Director-General of the Nigerian Investment Promotion Commission, Gbenga Onabanjo, Chairman of GPP and Olabintan Famutimi, President of the Nigerian-American Chamber of Commerce, among others.
CHUKA UROKO
