Senator Jimoh Ibrahim has called for the enforcement of stringent conditions for project implementation to prevent the recurrence of failed projects in Nigeria. Speaking at the 2024 Oxford Management Conference held at the University of Oxford, Ibrahim commended the government’s commitment to addressing the issue of abandoned mega projects.
Highlighting the significance of these projects, Ibrahim urged global stakeholders not to be deterred by the staggering figure of 11,866 abandoned mega projects in Nigeria. Instead, he encouraged viewing the challenge as an opportunity for sustainable development and national growth.
Delivering his lecture on “Mega Projects,” the senator, who represents Ondo South Senatorial District, emphasized the potential impact of successfully completed projects. “If these mega projects had been managed effectively, Nigeria could rival the United Kingdom in development,” Ibrahim noted.
He referenced the Ajaokuta Steel Plant as a critical example, citing the government’s $11 billion investment over 43 years without yielding results. He also highlighted other failed initiatives such as Malabo Oil City, Sure-P, SAT One, and the National Library.
While acknowledging corruption as a key issue in project management, Ibrahim stated it is not exclusive to Nigeria. He drew parallels with international cases, citing the UK Crossrail project, which saw costs escalate from £14.8 billion to £18.7 billion, and the U.S. government’s $65 billion loss in Nevada’s Yucca Mountain nuclear waste project.
“Mega projects often present complex challenges, and even the most diligent governments occasionally misallocate state resources,” Ibrahim observed. He stressed that Nigeria’s primary challenge lies in translating the potential benefits of mega projects into tangible value creation.
The senator urged President Bola Tinubu’s administration to prioritize the completion of abandoned projects. He proposed designating unused projects as “National Failed Projects” and taking steps to revive viable ones. He argued that operational mega projects could help mitigate the challenges posed by Nigeria’s ethnic diversity.
Ibrahim highlighted successful initiatives such as the Akpabio Stadium, Nigeria’s railway networks, and the Abuja and Lagos airports as examples of projects fostering national unity.
During the conference, the University of Oxford awarded Ibrahim a certificate of appreciation, recognizing his contributions as an alumnus of the institution. The senator holds an MSc in Major Programme Management from Oxford’s Saïd Business School and is a Business Doctorate graduate of the University of Cambridge.
His pioneering work on African mega projects was showcased at the conference, including his upcoming book and the establishment of the proposed University of Fortune in Nigeria.
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