Keyword : Economy .Transformation .Infrastructure .Development .Funding
Author(s) : Eugene Iheanacho
Abstract :
The robustness of any economy will to a large extent, depend on some key interlocking economic factors. Presently, government has been drumming the necessities for transforming the nation’s economic structures. This paper is a discursive study that argues for infrastructural development as a panacea for such economic transformation. Accordingly, a discourse on theoretical framework and review of relevant literature was undertaken. The paper also assessed the present condition of infrastructure and the economy in Nigeria, vis-à-vis the globalized economy. Also examined were the intertwined factors responsible for the present infrastructural decay in Nigeria. The paper reveals that government has neglected the provision of key infrastructures needed to drive the economy. The right quantity and quality of infrastructure needed to engender rapid economic transformation are for now either absent or in a state of disrepair. The paper recommended transparency and good governance, adequate funding of infrastructure in critical sectors, population control and physical planning as basic necessities to transform the national economy. Consequently, it was concluded that the war of economic transformation through infrastructural development in Nigeria may be lost or won depending on the availability of physical infrastructures which are germane to the realization of true socio-economic transformation.
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