TODAY
February 26, 2021
The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.
President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.
A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.
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Peter Uzoho with agency report
The federal government plans to hire an asset manager for its new Infrastructure Development Company (Infraco), designed to raise as much as N15 trillion ($36.7 billion) for infrastructural projects and to accelerate growth.
President Muhammadu Buhari about a fortnight ago, had approved the establishment of the Infraco, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit.
A report yesterday by Bloomberg quoted a source as saying that the Central Bank of Nigeria (CBN) and its funding partners, the Africa Finance Corporation (AFC) and Nigeria Sovereign Investment Authority (NSIA), are seeking proposals from companies to independently manage the infrastructure company’s capital-raising plan.
By Nume Ekeghe and Peter Uzoho
The Nigerian Sovereign Investment Authority (NSIA) has said it will collaborate with the newly-established infrastructure company (infraCo) to support the development of Nigeria’s infrastructure.
President Muhammadu Buhari recently approved the establishment of the infraCo, a public-private partnership (PPP)-styled infrastructure company with an initial seed capital of N1 trillion to help address Nigeria’s huge infrastructure deficit.
Speaking on the sidelines of a seminar for journalists, organised by The Whistler Newspaper, the Head of Corporate Communications, NSIA, Mr. Titilope Olubiyi, said at the appropriate time, the agency would partner and provide its expert advice to infraCo to enable it succeed.