Nuclear Energy Will Power and Industrialize Zambia’s Economy

The agreement that was signed will turn Zambia into a hub of nuclear sciences. The centre is to be used for peaceful purposes such has boosting the energy, health and agriculture sectors.

Nuclear is important for meeting the world’s growing need for reliable, affordable and clean energy. 

Global electricity demand is expected to double by 2050 as people everywhere demand a better quality of life. All low-carbon sources, including nuclear energy, are important for meeting this demand. Nuclear energy is expected to provide at least 25 percent of global electricity by 2050 to successfully meet the needs of human development and protecting the environment.

Zambia has seen the need to embrace nuclear energy by ensuring the country does not lag behind in being a highly industrialised nation.

Zambia-Russia nuclear science deal

Nigeria needs $35 billion annually to sustain economic growth

Premium Times

November 12, 2017

The Managing Director, Infrastructure Bank, Adekunle Oyinloye, has said that Nigeria needs $35 billion per annum for five years to sustain a robust economic growth. Mr. Oyinloye, said this in Abuja while presenting a paper on “Economic Indices and Relationship with Infrastructure Development” at a forum for set 1988 Economics Class, Ahmadu Bello University, Zaria. While speaking on the role of infrastructure in economic development, Mr. Oyinloye said capital investments in infrastructure was a reliable avenue for engendering sustainable economic growth and development.

“According to the National Integrated Infrastructure Master Plan (NIIMP), Nigeria needs about $35 billion per annum for a succeeding period of five years to sustain robust economic growth.

“That is what we need but we have never gone beyond about $12 billion; so it estimated that the infrastructure funding needs for the next 30 years is in the region of $3 trillion.

“The NIIMP relies on empirical data to identify critical linkages between economic growth, sustainability and Infrastructure development.

“And emphatically noted that developed economies typically record core infrastructure stock and value of about 70 per cent of this stock as proportion

“With power and transportation infrastructure usually accounting for at least half of that total stock volume.

“In contrast to national benchmark however, Nigeria’s core infrastructure stock is estimated as at today to be around 20 to 25 per cent of our GDP,” he said.

Breakfast Bed Tray with Reading Rack According to Mr. Oyinloye, infrastructure is a key ingredient for enhancing the nation’s productivity and economic growth. He, however, said it was important to utilize relevant economic indices to ascertain its level of investment. He explained that for emerging and frontier economies, the imperative for governments in terms of infrastructure investments was to attract private participation in infrastructure financing. Also, Salamatu Isah, the Head of Department of Economics, ABU, in her remarks said lack of infrastructure had been a major problem in the country. Ms. Isah recalled a recent statistics by the NBS which showed that services and other sectors had the highest rates while the manufacturing sector had the lowest. According to her, the low rate performance by the manufacturing sector is due to the obvious challenges of infrastructure in the country.

She however called on the government and relevant authorities to ensure infrastructure development in the country so as to improve  the basic standard of living  of Nigerians.

{I fully support this outlook for Nigeria. Massively expanding Nigeria’s infrasrtucture is vital for its economic future, and security. It cannot be delayed without endangering the nation.}