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FG Floats N1trn Firm to Tackle Infrastructure Deficit

Deji Elumoye in Abuja President Muhammadu Buhari has approved the establishment of Infra-Co, a Public-Private Partnership-styled infrastructure company with an initial seed capital of N1 trillion, to tackle Nigeria’s growing infrastructure deficit. Already, Vice President Yemi Osinbajo has been saddled with the responsibility of heading a Steering Committee to facilitate the take-off of the company. Osinbajo’s Media Assistant, Laolu Akande, in a statement yesterday said with time, Infra-Co would grow to N15 trillion in assets and capital and that it would be one of the premier infrastructure finance entities in Africa to be wholly dedicated to Nigeria’s infrastructure development.

Abuja federal capital territoryLaolu akandeMuhammadu buhariYemi osinbajoDeji elumoyeCentral bank governorSteering committeeCentral bankNational planningNational economic councilInfrastructure developmentNigerian governors forumAfrica finance corporationNigerian sovereign investment authorityDangote groupPresidential infrastructure development fund

Nigeria s president approves set up of $2 6 bln infrastructure firm

By Reuters Staff 2 Min Read Nigerian President Muhammadu Buhari speaks during a news conference after a meeting with his South African counterpart Cyril Ramaphosa, in Pretoria, South Africa, October 3, 2019. REUTERS/Siphiwe Sibeko/File Photo ABUJA (Reuters) - Nigeria’s president has approved the creation of a new company that will focus on infrastructure development, with a seed capital of 1 trillion naira ($2.63 billion), the head of state’s office said on Friday. The company, named Infra-Co, will be a public-private partnership, and the initial capital will come from the central bank, the Nigerian Sovereign Investment Authority (NSIA), and the Africa Finance Corporation, it said.

Abuja federal capital territoryMuhammadu buhariRaissa kasolowskyFelix onuahThomson reuters trust principlesNigerian sovereign investment authorityAfrica finance corporationAlexis akwagyiram editingThomson reuters trustCorporate eventsBanking amp investment services trbc level 2Banks trbc level 4Crude oilEconomic indicatorsEconomic news 3rd partyEmerging market countries

Nigeria s president approves set up of $2 6 billion infrastructure firm

Nigeria's president has approved the creation of a new company that will focus on infrastructure development, with a seed capital of 1 trillion naira ($2.63 billion), the head of state's office said on Friday. The company, named Infra-Co, will be a public-private partnership, and the initial capital will come from the central bank, the Nigerian Sovereign Investment Authority (NSIA), and the Africa Finance Corporation, it said. "Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects for roads, rail, power and other key sectors," President Muhammadu Buhari's office said in a statement.

Africa finance corporationNigerian sovereign investment authorityInfrastructure developmentMuhammadu buhariPublic private partnershipநைஜீரியன் இறையாண்மை முதலீடு அதிகாரம்உள்கட்டமைப்பு வளர்ச்சிபொது ப்ரைவேட் கூட்டு

Buhari okays creation of N1trn infrastructure coy

Infra-Co will finance public asset development, rehabilitation and reconstruction as well as invest in cutting edge infrastructure projects

Abuja federal capital territoryLaolu akandeYemi osinbajoMuhammadu buhariCentral bank governorSteering committeeCentral bankNational planningNational economic councilNigerian governors forumInfrastructure developmentAfrica finance corporationNigerian sovereign investment authorityDangote groupPresidential infrastructure development fundPublic private partnership

Buhari approves creation of $2 6bn company, Infra-Co to tackle infrastructure deficit

Buhari approves creation of $2 6bn company, Infra-Co to tackle infrastructure deficit
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Muhammadu buhariNigerian sovereign investment authorityAfrica finance corporationCentral bankPresident muhammadu buhariAfrica financeநைஜீரியன் இறையாண்மை முதலீடு அதிகாரம்மைய வங்கி