Experts at the Financial Derivatives Company Limited, led by Economist Bismarck Rewane, have said that Nigeria’s infrastructure deficit, estimated at $2.3trn, requires about $100bn annually through 2043, with power, transport, housing, water, and ICT facing the largest funding gaps.
According to the company, rising public debt (₦159.28trn in 2025) has limited the government’s ability to finance infrastructure, increasing the need for alternative funding sources. Since the Contributory Pension Scheme began in 2004, pension assets have grown rapidly by more than 2,000-fold to ₦31.32trn in May 2026 from ₦15.6bn in July 2004. However, less than 1% of these assets is invested in infrastructure, with most funds held in federal government securities.
“The experiences of South Africa and Kenya show pension funds can finance critical infrastructure while generating long-term returns. Nigeria can unlock similar benefits by directing a greater share of pension assets to well-structured, bankable projects through strong regulation, transparent governance, independent project appraisal, effective risk management, and public-private partnerships. This would help bridge the infrastructure gap, reduce logistics and energy costs, attract private investment, and support long-term economic growth,” it stated
Unlocking Nigeria’s art economy for sustainable growth
Nigeria’s growing art ecosystem, reflected in events such as ART X Lagos and increasing global recognition of local artists, highlights the untapped economic potential of the country’s visual arts sector. While the broader creative industry already supports over 3 million jobs, the visual arts remain largely informal due to weak institutional support, limited infrastructure, and the absence of a structured creative economy framework. As Nigeria seeks alternatives to oil dependence, the art economy presents an opportunity to generate employment, attract tourism, and boost foreign exchange earnings.
The United Arab Emirates demonstrates how deliberate investment in culture can transform art into a major economic asset. Through policies supporting museums, creative districts, and cultural tourism, the UAE successfully integrated art with economic diversification. For Nigeria, replicating this success will require stronger institutions, targeted incentives, and strategic investment to convert cultural talent into sustainable economic growth.