He explained that economics teaches that wants or desires are always endless, but resources are limited or finite.
“The name of the game is, therefore, prioritization,” he said while delivering the key note address at the Nasara Investment Summit 2022 (#NIS2022) in Nigeria.
He added “it is important for nations or federal states like your own to have a carefully drawn-up infrastructure investment plan.
“This must be drawn after intensive consultation to capture the felt needs of your people. The needs identification will lead to the most rapid transformation of your society. Such projects will cover a broad but critical spectrum and may include transport, roads, airports, rail, and
“They may include projects in power generation and distribution, access to clean drinking water, education and health.
“The benefits from investing in infrastructure cannot be overemphasised. I should know this because as President, I was involved in taking decisions about which infrastructure projects were included in our Priority Investment Programme (PIP).
“This strict prioritization and tailoring of our needs to meet our resources led to a rapid expansion of infrastructure in the areas of transport, energy, water, ICT, education and health during my tenure.
“This expansion of infrastructure resulted also in an expansion of job creation in the construction sector and its supply chains. The net outcome was an expansion in the size of our Gross Domestic Produvct (GDP).