To achieve the objectives and goals of the sector, substantial additional investments in infrastructure are required. Top-down estimates through international benchmarks of the investment needs suggest the Transport sector needs about USD 775 billion over the next three decades to achieve the targets set by the sub-sectors (including construction, rehabilitation, and maintenance).
- The roads sub-sector accounts for the lion’s share of required transport infrastructure investments. Reaching the aspirations will require an investment of about USD 350 billion over the next 30 years, for rehabilitation, expansion and upgrading of the Nigerian road network. The corresponding investments throughout these three decades comprise the rehabilitation of about 120,000 km of existing road, increasing the total length of paved roads from the current 70,000 km to more than 180,000 km and the construction of about 95,000 km of new roads. This also includes construction and rehabilitation of feeder roads to all major seaports and airports. Of the overall amount, USD 22 billion will have to be invested in the first 5 years.
- Required infrastructure for scaling up the Nigerian rail sub-sector translates into required investments of about USD 75 billion. Most of this figure (about USD 30 billion) is accounted for by new construction of more than 6,000 km of standard gauge rail. Other requirements comprise the rehabilitation of the single gauge rail network, construction of new stations and linking all important seaports and airports to the national rail system. USD 5 billion is required in the first 5 years.
- Required infrastructure investments for the aviation sub-sector amount to USD 50 billion. This comprises substantial remodelling and rehabilitation of international airports in Lagos, Abuja, Kano, Enugu, Port Harcourt and Calabar. New construction will include the new Bayelsa airport as well as the second runway in Abuja. About USD 5 billion needs to be spent in the near-term (by 2018).
- Required infrastructure investments for maritime transportation amount to about USD 50 billion. For the most part, this amount is accounted for by sea- port infrastructure (about USD 30 billion). This includes improving connectivity to the national transportation systems (road, rail) as well as substantial refurbishments and expansions for the port complexes in Lagos, Tin Can Island, Onne, Port Harcourt, Calabar and the Delta port complex.
- Urban transport infrastructure in Nigeria needs total investment of USD 250 billion over the 30 year period. USD 120 billion will be required for transport infrastructure (road and rail), USD 40 billion for public transportation infrastructure (bus lanes, walkways, bus stations), and USD 90 billion for fleet management (buses, taxis, ferries). Over the first 5 years USD 4 billion is required for urban transportation, focusing on urban road transport infrastructure.