Lamido Yuguda calls for massive African infrastructure investment

Africa's economic growth potential is closely tied to infrastructure investment, yet the continent faces significant challenges. With its dependence on raw material exports and vulnerability to global commodity price fluctuations, Africa must prioritize industrialization and boost intra-regional trade, currently at 15% compared to Asia's 60% and Europe's 70%. The inadequate infrastructure adds 30-40% to trade costs, creating urgency for annual spending requirements of up to USD 170 billion to close a USD 108 billion financing gap. Key stakeholders stress the necessity of engaging private investment through public-private partnerships (PPPs), highlighting successful telecom examples as models. By investing in sectors like transport, power infrastructure, clean energy, and manufacturing, coupled with supportive policies and projects, Africa may transform its economic destiny. However, achieving this requires overcoming policy uncertainty and garnering broader intra-regional cooperation, as emphasized by industry leaders.