PAPER ON INFRASTRUCTURE DEVELOPMENT AND ECONOMIC ...

SIGNIFICANCE OF INFRASTRUCTURE TO ECONOMIC GROWTH AND DEVELOPMENTCONTD.The US department of the Treasury with the Council of EconomicAdvisers in a research conducted last year revealed that a welldesigned infrastructure investments can raise economic growth,productivity, and land values, while also providing significant positivespillover to areas such as economic development, energyefficiency, public health. Poorly planned, non strategic,infrastructure investment is not only a waste of resources, but cannegatively impact future economic growth. With limited fundingavailable, it is important to select investment that will provide thegreatest return, be it economic or social. Investing in infrastructure isone of the significant mechanisms to increase:• National income• Increase employment rate• Improve productivity• Economy competitivenessJ. Ajayi Patunola & Co.. Estate Surveyors & Valuers 19