Nigerian Society of Engineers, NSE, has said the country’s budget cannot fund its infrastructure needs, saying at least N200 trillion would be required over the next 30 to 40 years to address them.
Deputy President of the NSE, Valerie Agberagba, however, said domestic funding sources such as pension funds and Sukuk bonds could be used to bridge the infrastructure gap nationwide.
Agberagba spoke to newsmen at the inaugural West Africa Infrastructure Expo organised by DMG Events and co-located with HVACR Nigeria, endorsed by the Air-Conditioning, Heating and Refrigeration Institute, AHRI, and ASHRAE RAL, Region-at-Large, in Lagos.
According to her, domestic funding should be prioritised before seeking foreign direct investment.
She said: “Once we can utilise our domestic funds and people see the interest and the genuineness in us driving infrastructure, we don’t need to call too much attention again. People will come in to invest. But let us do what we have to do, which is using the domestic funds and making them available for people to use.”
Also speaking at the event, Senior Vice President, DMG Events, Josine Heijmans, said the summit was created to bring together policymakers, project owners, investors and delivery partners to focus on how issues around infrastructure and sustainable urban development can be translated into tangible outcomes.
Heijmans said: “As Africa’s largest economy, Nigeria is at a critical stage in its development journey. The country is advancing its long-term infrastructure ambitions—reliable transport networks, resilient power systems, digital connectivity, water infrastructure and sustainable urban development—all of which are increasingly central to economic growth and national progress.”
For his part, Project Manager at Ovamann Pumps, Apara Oluwarotimi, said Nigeria could do better in the area of water infrastructure.
Oluwarotimi said: “As everybody knows, water is very important because everyone depends on it. There is a need to create and maintain it. That is the reason why our company exists in the country. We are currently the only ones in Nigeria with a sustainable water system. The system introduces solar.”
Meanwhile, Business Development Manager at Kobeissi Electrical & Mechanical Engineering, Jana Kobeissi, said: “We have several business lines. First, we trade in MAB products and are the official distributors for some products. We also carry out local fabrication of anything related to ventilation systems. In addition, we have an ABB-certified panel-building facility where we produce different types of panel boards.”
Likewise, Sales Manager for JMG Limited, Hussam Aziz, said: “The Nigerian HVAC market is one of the most important in Africa due to growing demand across sectors such as real estate and construction, medical facilities, healthcare, IT infrastructure and data centres. We can enhance the technical knowledge of specialists in Nigeria by collaborating with the government.”
Technical representative at Daitech Nigeria Limited, Pranav Rasannan, said: “We are the authorised distributor of Daikin, one of the most reputable brands for air conditioning. We have been operating in Nigeria for the last 30 years and have a wide network. We also have an after-sales service team that constantly engages with customers to understand areas for improvement.”