Vice President Dr. Mahamudu Bawumia has said no government can use budget funding to meet the public’s demand for good roads. According to Dr. Bawumia, the competing demands of public services cannot allow for enough fiscal space to cater for all road infrastructure needs of the country.
Although government recognizes the critical role road infrastructure plays in the national development agenda or strategies, the second gentleman of the state reiterates that no government can ever do it alone.
Buttressing his argument, the vice president shared that Ghana currently needs about $12 billion to clear road maintenance backlogs. However, funding available could only cater for about 38% of the needed amount.
“..our nation requires $12 billion to clear the maintenance backlog to enable the network of our 94, 203km to be at an optimal level. However, current funding levels only cover about 38%, not even 50%. This represents a significant shortfall”, the vice president shared.
This, according to the vice president, results in deteriorating roads, increased maintenance cost and missed economic opportunities. However, the situation seems to be pervasive on the continent of Africa as the AfDB reports infrastructure financing deficit of between $68 billion to about $180 billion.
The prevailing state of affairs presents a critical issue of infrastructure financing gap which, the vice president suggests needs urgent attention.
“This staggering figure underscores the importance of innovative solutions and strategic partnerships. Under the leadership of our administration, we have prioritized infrastructure development as a cornerstone of our economic strategy”, Dr. Bawumia echoed during 50th Anniversary Launch of the Ghana Highways Authority under the theme “Closing the Financing Gap on Road Development in Ghana.”
Dr. Bawumia, however, admonishes that an urgent attention is given to finding innovative ways to fund road infrastructure in Ghana and in Africa at large.
But, he believes this challenge should not be left to governments alone. The private sector, he opines, holds the key to bridging the road infrastructure financing gap. Failure to confront the identified significant financing gap will mean the public constantly complaining and demanding for roads. It will also mean sabotaging the growth of the economy and improving the livelihoods of the Ghanaian people.
The vice president has thus called on key stakeholders within the road sector to deliberate on sustainable ways of solving the road infrastructure financing gap in Ghana.
Dr. Mahamudu Bawumia used the occasion to appreciate the management, board and staff of the Ghana Highways Authority for their incredible work done so far although, as he underscored, there is more to be done in terms of providing the general public with good and quality roads.