A file photo of a section of the Third Mainland Bridge in Lagos

A 2018 report by the Infrastructure Consortium for Africa (ICA) found that between 2013 and 2017, the average annual funding for infrastructure development in Africa was $77 billion. Comparatively, this is double the annual average in the first six years of this century. Since 2018, investment in the continent has continued to grow among governments and international organisations, alongside foreign and local institutional investors. Although nearly half of the recent activity has been in West and East Africa, the bulk of infrastructure spending between 2013 and 2017, came principally from African governments, accounting for 42 per cent of total funding as of 2017. This was followed by international governments, with China leading the radar. Since 2018, however, there seems to be a growing interest in Africa’s infrastructure stemming from private institutional investors.