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Tinubu seeks construction industry stakeholders’ support for infrastructure development 

By Guardian editor
20 January 2023   |   5:11 am
Presidential candidate of All Progressives Congress, Bola Tinubu, has sought support of Federation of Construction Industry in Nigeria (FOCI) to achieve his administration’s target of massively developing the country’s infrastructure if elected President next month’s general elections.  He spoke during a consultative session with the body yesterday in Abuja. A statement by his media office…

Construction Industry

Presidential candidate of All Progressives Congress, Bola Tinubu, has sought support of Federation of Construction Industry in Nigeria (FOCI) to achieve his administration’s target of massively developing the country’s infrastructure if elected President next month’s general elections. 

He spoke during a consultative session with the body yesterday in Abuja.

A statement by his media office quoted Tinubu as saying: “We must work together and collaborate to look at the bottlenecks impeding the realisation of the full potential of the construction industry and take realistic efforts to address them.”

The former Lagos State governor said he would further the developmental feats of the President Muhammadu Buhari regime in the sector. 

He went on: “God willing, as we assume the mantle of leadership, we shall build an even more prosperous economy. This means additional investment in relevant infrastructure: Roads, bridges, rail, airports, schools, power facilities, hospitals and more. These will enhance efficiency, support industrial growth, spur trade and investment and improve the ease of doing business.

“My commitment to increase the yearly Gross Domestic Product (GDP) growth will heavily depend on the quality of infrastructure we shall build to facilitate and sustain growth in all facets of our national life.”

Tinubu said his administration would focus on transportation infrastructure, building more roads, rails and improving water transport for easier movement of humans and goods.

“Overall, the transportation sector is valued at N37 trillion.”

Transport activities contributed 1.84 per cent to real GDP in Q2 2022.  Sustaining the political will and technical capacity to move people and goods in a safe, affordable and accessible manner will create a better future for Nigerians. 

We will, therefore, work hard to improve our various transportation systems and, in the process, unlock the value chain of opportunities therein,” he added. 

The APC standard-bearer told members of the association that he would consider the Construction Bank proposed by one of them, adding that the problem of the industry remains paucity of long-term funding instruments.

President and Chairman of FOCI Council, High Chief Vincent Barrah, thanked Tinubu for honouring their invitation, saying his presence confirmed the high regards he has for members of the federation and importance of the body in the scheme of things in the country.

He submitted that the construction industry is the largest employer of labour in Nigeria after government.