Infrastructure as a Drive in Economy and Finance

Infrastructure, they say is the oil of any nation, the United State president has said this several times especially when the government is about to talk about its successes, but this isn't the same for African countries. In Nigeria, Infrastructure is something that the government is far behind on. The government is looking into working on infrastructure, the citizens are concerned about the economy, and the world is saying that Africa is far behind when it comes to investing in infrastructure. Does Infrastructure really drive the economy?

In Africa, a lot of people believe that infrastructure provision is basically the job of the government, but in reality, infrastructures are basic physical and organizational structures or facilities that are required for operations in a society or enterprise. Infrastructure projects include road, pipe-borne water, rail, airports, seaports, communication networks, power plants, and a few more things, but then while the government focuses on an infrastructure project, the majority of public and private companies work on infrastructure investments. When infrastructure is in place, the economy would grow. It is no doubt that infrastructure drives the economy.

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For people who doubt the importance of infrastructure in economic growth, let's give simple scenarios. If Ports are clogged, no constant power supply, or lapse in the internet, you would not want to imagine what the day would look like. The quality of infrastructure in a region significantly affects economic growth and development. You would not deny the fact that infrastructure has a positive effect on economic growth which is increased productivity.

Just like in government, so is infrastructure important in businesses. One important effect of infrastructure on business is increased productivity which in turn affects economic growth. This tells us that infrastructure has a good hold when it comes to local businesses, thereby increasing the local economy's competitiveness. When a country has a good infrastructure system, it will provide a supportive environment for the development of new technologies and businesses.

It becomes funny that during elections, aspirants use the same infrastructure problems in Nigeria as the campaign promises they do not work on improving these infrastructures or developing infrastructure projects. In this current election campaign, some presidential candidates are talking about infrastructure, while others are talking about agriculture and economic reformation, so you start to wonder if there is an economy without infrastructure.

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