Yilwatda: Tinubu’s infrastructure investments will drive Nigeria’s $1trn economy

Nentawe Yilwatda, national chairman of the All Progressives Congress (APC), says Presidet Bola Tinubu administration is investing in infrastructure and human capital development as part of a strategy to transform Nigeria into a $1 trillion economy.

Abimbola Tooki, special adviser to the APC national chairman on media and information strategy, said in a statement that Yilwatda spoke on Thursday while receiving members of the governing council of the Federal University of Health Sciences, Otukpo (FUHSO), Benue state, led by Muhammad Audu, pro-chancellor of the institution, at the APC national secretariat in Abuja.

He said the federal government’s investments in roads, bridges, rail transport, deep seaports, education and other critical infrastructure are aimed at boosting productivity, attracting investment, creating jobs and driving economic growth.

Yilwatda said the administration had adopted a deliberate approach to infrastructure development, noting that sustained economic growth depends on efficient transportation networks and other critical infrastructure.

“These are not isolated infrastructure projects. They are part of a larger economic strategy. We are building the infrastructure that will support the one-trillion-dollar economy that President Bola Ahmed Tinubu has set as a target for Nigeria,” he said.

He said the government is working towards developing five major deep seaports across the country, including the Badagry Deep Sea Port in Lagos, the Olokola Deep Sea Port on the Ondo-Ogun coastal axis, the Ibom Deep Sea Port in Akwa Ibom, the Bakassi Deep Sea Port in Cross River and the Bonny Deep Sea Port in Rivers state.

Yilwatda added that the administration is also constructing coastal highways and other road networks to link the ports and improve the movement of people, goods and services.

“We are building seven coastal roads to connect the five deep seaports. The government is deliberate about this. We want to ensure that our transportation infrastructure supports trade, investment and economic activities across the country,” he said.

He also highlighted the railway linking Nigeria to Maradi in the Niger Republic, describing it as a strategic project that would strengthen regional trade, improve access to Nigerian ports and enhance the country’s competitiveness.

The APC national chairman said there are 81 road projects in the north-central zone and more than 260 federal road and bridge projects under construction across the six geopolitical zones.

He added that the federal executive council (FEC) had recently approved 27 major road projects worth about N3.9 trillion across 15 states.

“Our objective is to improve connectivity across the country so that Nigerians can travel from one part of the country to another within a reasonable period. Better roads mean better commerce, easier access to markets, improved access to healthcare and education, and greater opportunities for investment,” he said.

On the economy, Yilwatda said the administration’s tax reforms were designed to make the tax system fairer by ensuring lower-income earners paid less while higher-income earners contributed more.

He added that the government’s foreign exchange reforms had improved the management of the market by reducing distortions associated with the parallel market.

Yilwatda said Nigeria’s economic indicators were improving, citing gross domestic product (GDP) growth of about four percent, stronger investor confidence and what he described as Shell’s reported $20 billion investment commitment.

He said the administration’s reforms should also be viewed alongside its investments in education and healthcare, describing them as critical to human capital development.

Yilwatda commended the Federal University of Health Sciences, Otukpo, for contributing to the training of healthcare professionals and welcomed the federal government’s recent measures to improve the welfare of university lecturers.

He also praised the minister of education for reforms in the sector, saying they are vital to Nigeria’s long-term development.

Earlier, Audu thanked Yilwatda for receiving the university’s governing council and sought his support in facilitating a meeting with Tinubu and Nyesom Wike, minister of the Federal Capital Territory (FCT).

Audu said such engagement would enable the university to present its vision, and infrastructure needs directly to the president and the FCT minister.

Yilwatda assured the delegation that the request would receive the necessary attention, saying the development of institutions such as the Federal University of Health Sciences, Otukpo, aligns with the administration’s commitment to human capital development.