International Journal of Business and Social Science

ISSN 2219-1933 (Print), 2219-6021 (Online) DOI: 10.30845/ijbss

Infrastructure Finance System: A Comparative Analysis of3 Developing Countries and Lessons for Nigeria
Araloyin Funmilayo Moyinola, Balogun Olayemi Oluwayemisi

The current level of infrastructure deficit in Nigeria is believed to be one of the major constraints towards achieving national economic development. This paper looks into three emerging economies - India, Brazil and Chile and identifies solutions that may be applicable to infrastructure financing in Nigeria. The study found that the Nigerian system runs in a similar way to that of India and Brazil, in that the public sector plays a major role in the provision of funds for infrastructure in the country. In Chile, privatization is the main means by which the government has improved on infrastructure financing. Going by Chile’s experience, privatization seems to be the best option for Nigeria because it devoid the evil of corruption and mismanagement which appears to be the bane of infrastructure development in the country. However, privatization in Nigeria should be practiced (like Chile) on transparency, openness, dialogue and decision-making processes for achievements to be recorded.

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