In his keynote speech at an an infrastructure promotion event in Lagos, Fashola said solid infrastructures push economic development. In apparent reaction to some viewpoint which argue that infrastructure cannot grow the econom, Fashola stated that “…such a position is tantamount to economic heresy in the face of the contrary and preponderant empirical evidence available in global developmental economics.“
The former minister pointedly declared that, infrastructure remains a strong catalyst for economic development and growth. Amidst the challenges popularly identified as responsible for stressing up critical sectors of the economy, Fashola posited that sectors like tourism and entertainment among several others need infrastructure to grow the economy, adding that the current situation accounts for why talents are not being rewarded enough to enhance the nations GDP. He said, “I must say that construction companies are the most legitimate firms doing the most legitimate business right now. The reason is simple: once you disburse money to them you feel the spiral and multiplier effect all over; and because they outsource their jobs, it can easily be said that they are huge sharers of national wealth.“
