Abuja, May 15, 2026 Former Adamawa State Governor, Boni Haruna, has attributed Nigeria’s growing infrastructure gap to inconsistent government policies rather than a lack of financial resources.
Haruna made the remark in Abuja while delivering a goodwill message on the second day of the 2026 Infrastructure Dialogue themed “Building Nigeria’s Future: The Strategic Role of DFIs and Capital Markets in Infrastructure Financing and Economic Development.”
He criticised the frequent abandonment of projects by successive administrations, noting that political transitions often disrupt long-term infrastructure plans.
According to him, infrastructure development requires continuity and long-term commitment, but many projects in the country are discontinued or replaced once new governments assume office.
Haruna advocated for legal backing that would ensure continuity of critical national projects across administrations.
He argued that once major projects are approved by the Federal Executive Council and the National Assembly, they should remain binding regardless of changes in government, adding that countries such as South Africa have made progress by anchoring development programmes in legislation.
He also called for the protection of key technical institutions, including the Bank of Industry (BOI), from political interference to improve efficiency and accountability.
The convener of the dialogue and Managing Partner of Deutsche Partners Holdings, Dr. Onuoha Nnachi, described contract inflation as a major obstacle undermining infrastructure development in Nigeria.
He cited a long-standing power project as an example, explaining that its estimated cost reportedly rose significantly during approval stages, alongside increases in mobilisation fees.
Nnachi warned that inflated project costs and weak oversight continue to hinder sustainable development, stressing the need for transparency and coordinated financial management.
He also commended Nasarawa State Governor, Engr. Abdullahi Sule, for prudent leadership, noting that the state had attracted over $2 billion in foreign direct investment through transparent governance practices.
Representing the Bank of Industry, Executive Director for Small and Medium Enterprises, Mr. Toyin Edu, said government funding alone was insufficient to close Nigeria’s infrastructure financing gap.
Edu disclosed that the bank had secured approval for a $1 billion loan syndication initiative to support infrastructure development in phases across the country.
He added that infrastructure remains central to economic growth and revealed ongoing partnerships aimed at expanding fibre-optic networks and improving port infrastructure to boost trade and connectivity.
The Infrastructure Dialogue is expected to continue with panel discussions involving experts from capital markets and development finance institutions, focusing on strategies to mobilise domestic savings for national development.