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Showing posts from June, 2013

Rowland Adewunmi: Transportation – The Road To Nowhere

Macroeconomic indices have shown that for many growing economies, the value added by transport to the economy accounts for 3 to 8 percent of GDP while employment in transport sector ranges between 2.5 and 11.5 percent of total paid employment. For a struggling economy like Nigeria, intensified investment in transport will not only create millions of jobs, but also stimulate critical sectors of the economy, facilitate the safe and efficient movement of people and goods, promote economic development, competitiveness and even strengthen security – on which the federal government alone plans to spend, and waste about 3 billion naira every day, including weekends in 2012. Reflecting on the histories of successful nations, economic growth, prosperity and opportunity for everyone have followed investments in transport infrastructure. Investing in the sector is the basic foundation for governance and economic growth. A key example is the US where between 1980 and 1991, almost one-fifth of