 Let me join the Honourable Minister of State for Budgets and National Planning to welcome you to the inauguration of the National Council on Infrastructure. A fundamental feature of our administration's plan for the rapid development of the economy is a deliberate and massive investment in infrastructure and some of the more significant investments which we are already very familiar with are the Second Niger Bridge, the Lagos-Ibadun Expressway, the Abuja-Kartuna-Isaria Road, all funded through the Presidential Infrastructure Development Fund. And there are, of course, other notable road sector investments. These include the construction and upgrading of about 5,000 kilometres of major road projects across through the Sukuk-Bond. Rail sector investments include the Lagos-Kano standard cable lines, the Wari-Tapa Rail. And in the energy sector, this administration has greenlit the NLNG-7 of invested in the Ajau-Kuta-Kartuna-Kano, the AKK pipeline. And we're on track to complete an incremental 4,000 megawatts of generating assets such as Zungeru Hydro and Kashinbilla Hydro to complement the systemic reforms and investments in the distribution and transmission segments of the electricity value chain. The administration is also investing more than two billion U.S. dollars in distribution and transmission through the Siemens Presidential Power Initiative, the Transmission and Rehabilitation and Expansion Plan, the CBN Finance Transmission Distribution Interface Program, and the recently approved 500 million dollar World Bank Disrep Program for the distribution segment. We've also been innovative and proactive in developing financing options. Last year, the government launched the 15 trillion Infrastructure Corporation, the infra core Nigeria, and also signed Executive Order 7, and the president signed Executive Order 7, which has informed the right policy framework and created some opportunities for public-private partnerships in infrastructure development. However, despite these significant efforts and progress, including an allocation of at least 30 percent of the federal annual budget to infrastructure projects since 2016, substantial infrastructure deficits remain across the country. To ensure the effective coordination of the infrastructure development of infrastructure development across the nation and all sectors of the economy, and to bring in private sector participation, the National Integrated Infrastructure Master Plan was developed. The master plan emanated through an elaborate and inclusive process, including the work of the ministerial steering committee, the technical working groups, and the business support group, which provided the needed private sector perspective and expectations. The master plan provides an integrated view of infrastructure development in Nigeria, with clear linkages across key sectors and identifies and elaborates on enablers for successful implementation in line with current economic realities. It takes stock of existing infrastructure and specifically sets out the goal of raising Nigeria's infrastructure stock to at least 70 percent by the year 2043. For efficient and effective implementation of infrastructure projects, the National Integrated Infrastructure Master Plan recommended the establishment of the National Council on Infrastructure, which we gather to inaugurate today, and its technical working group. The council is to provide policy direction on infrastructure matters and drive the creation and sustenance of the expected synergy and linkages between the public and private sector to enhance the implementation of the infrastructure master plan. While the technical working group is to provide guidance to the council and advise on all infrastructure related matters, this governance structure conforms with global best practice. The reviewed National Integrated Infrastructure Master Plan 2020 to 2043 and the National Development Plan 2021 to 2025 also estimated the current nation's infrastructure stock to be between 30 and 35 percent of GDP in 2020, against 20 percent of GDP recorded at the inception of this administration in 2015. This of course is still a far cry from the estimated target of 70 percent envisaged in 2043. The estimated resource requirement for the National Integrated Infrastructure Master Plan implementation is 2.3 trillion US dollars, certainly too large to be provided from public resources alone. Consequently, a well coordinated and strategic approach will be required to harness private sector resources to increase the stock of Nigeria's infrastructure to the desired level by the year 2043. The private sector is expected to play an increasingly important role either directly or in collaboration with the government through public-private partnership arrangements. With the government providing a supportive environment with stable and transparent policies, rules and regulations. The National Council on Infrastructure on its part will be expected to do the following. One, facilitate the creation of the desired enabling environment conducive for attracting and stimulating private sector investments in critical infrastructure projects, that is legal, illegal and regulatory framework, policy stance and risk mitigation. Two, facilitate resource allocation for critical capital projects, sequencing of projects in the budgets and facilitate the release of approved capital votes. Three, facilitate the resolution of interagency regulatory related conflicts between different MDAs which might hinder the delivery of critical projects among MDAs. Four, provide the Federal Executive Council with clear perspectives on infrastructure projects appraisal and capital assets management. Five, determine and approve appropriate model to fund and deliver a prioritized project or series of projects. Six, to conceive of innovative solutions to finance and deliver critical infrastructure. Seven, to take all necessary steps to obtain all necessary approvals to give effect to decisions of the Council, particularly the approval of the Federal Executive Council. And eight, to lead the process for the enactment, amendment or repeal of legislation, including sectoral regulatory frameworks which impart on project delivery or the attraction of private sector participation. Distinguished guests, ladies and gentlemen, the success of the national integrated infrastructure master plan will depend to a large extent on the establishment of a strong implementation mechanism and framework that would promote performance and accountability. To this end, the infrastructure delivery coordinating unit in the federal ministry of finance budget and national plan is being strengthened to effectively perform its role as the Council Secretariat. While commending all efforts towards this notable endeavor, we must especially thank the unruly ministers of finance budget and national planning and the only minister of state for finance budget and national planning and the management and staff of the ministry for facilitating the constitution of this Council and for all their hard work in that behalf. I have no doubt that the very capable and experienced members of the Council will fully appreciate the critical importance of their task to the economic future of our country. It is now my very special privilege and pleasure to formally inaugurate the National Council on Infrastructure. Congratulations to all Council members. Thank you very much for your kind attention. God bless the Federal Republic of Nigeria.