According to the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed Nigeria needs an estimated sum of $100 billion annually to address the infrastructural decay in the country. While the Youth Party has proposed several ways of boosting Nigeria’s revenue base, it is important to highlight some of the factors that have led to this infrastructural decay. They are:
1.Awarding of contracts to companies that lack the capacity and expertise to effectively execute the project.
2. Diversion of scarce resources needed to solve infrastructural problems.
3. Wasting public funds on white elephant projects that contribute little or nothing to the economy
4. Poor socio-economic conditions that discourage private capital and foreign investments.
5. Inflation of contracts and huge corruption in the various ministries responsible.
6. The lack of accountability and transparency in the budgeting, awarding and supervision of infrastructure projects.
7. Waste ensued from the growing number of abandoned projects from past administrations and the failure of successive governments to continue the
0