Modernizing infrastructure for growth acceleration

Engineering Post Report

 Adequate provision of infrastructure is necessary for the productivity and growth. Modern infrastructure helps in accelerating  the growth  and improving  redistribution of income while    efficient infrastructure  augments  economic growth  by reducing  transaction costs, increasing  durability of  capital goods , fostering trade, investment, diversification and achieving  economies  of scale and scope, according to the experts.

The federal government as such is , therefore,  committed to  invest in  quality infrastructure  to deliver  efficient and affordable  infrastructure  for the industrial  competitiveness  and inclusive development in the country.

Economic and social development of a country  depends on  affordable and reliable energy  supply. Sustainable  Development Goal  (SDG) 7 aims at  delivering affordable , reliable and universal access to energy.. Increasing  share of renewable energy in the energy mix and improving  energy  efficiency  are also included  in the SDG targets.

 The experts on being contacted opined that a multi-faceted  approach  is needed to address  the challenges  in the energy  sector. In the gas sector, Exploration and Production  activities  need aggressive support to enhance  the domestic oil/gas  supply at an affordable rate.

Furthermore,  there is also the dire need for checking  the system losses and Unaccounted for Gas (UFG) in the gas distribution network. Industrial consumption of  natural gas for  captive power generation needs to be discouraged  for enhancing the utilization of power grid, they added.