Quantity surveyors have projected that Nigeria requires an annual investment of $150 billion from both public and private sectors to address its growing infrastructure deficit.
The estimate was presented during a lecture focused on sustainable development in Lagos, highlighting the urgent need for coordinated investment in critical infrastructure across the country.
Speaking at the event, a leading infrastructure consultant emphasized the severity of Africa’s infrastructure challenges, noting that equity investment on the continent dropped to $1.4 billion in 2024 from $2.3 billion in 2023. According to him, Nigeria alone faces a financing gap of over $3 trillion in the next three decades.
“Bridging this gap requires significant commitment. The projected estimate stands at $150 billion annually from both public and private sources,” he said.
He explained that quantity surveyors play a vital role in cost management and ensuring value for money in large-scale infrastructure projects. “Our responsibility is to ensure projects are delivered efficiently, within budget, and with maximum economic impact,” he added.
Chairman of the Nigerian Institute of Quantity Surveyors, Lagos Chapter, also underscored the importance of sustainable infrastructure in driving growth. He commended the Lagos State Government for its efforts in urban renewal, citing key initiatives that align with the city’s transformation into a modern megacity.
“As we mark 50 years of excellence in quantity surveying, we reaffirm our role in shaping resilient, inclusive, and economically viable urban environments,” he said.
Stakeholders at the event agreed that without a substantial and sustained investment strategy, Nigeria’s infrastructure goals would remain out of reach.
