Appraisal of Transport Infrastructure Finance for Sustainable Development in Nigeria

This paper examined the various methods used in financing transport infrastructures in Nigeria with the objectives to determine the level of their contributions to the nations sustainable developments. Four major methods (Budgeting/Maintenance Agencies, Concessioning, Taxation and Users charge) were identified as means of financing the infrastructures in Nigeria. Data were collected through interview and online questionnaires from 382 respondents and 14 respondents from online questionnaires. Descriptive analysis and ANOVA (One-way) were used to analyse the collected data. The results has shown that, concessioning and government finance were the most potent tool to finance transport infrastructure while, users charge and taxation were closely related in percentages with 21 % and 20 % contributions to financing transport infrastructures respectively. The researchers concluded that, revenue generated from transport should not be diverted to finance other sector and there should be a modality for transparency and accountability especially through the creation of online transactions even for public notice in revenue generations and expenditures. The indigenous contractor should be used in executing transport projects with adequate and accurate monitoring. The most infrastructures that require huge financial investment should be financed by the federal government or other tiers of government. The other infrastructures should be concessioned and or commercialized. There should be reports on the infrastructures possibly every five-year term.