Nigeria creates $2.6 bn infrastructure company | The Guardian Nigeria News - Nigeria and World News

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The Buhari administration has approved the creation of a company to fast-track development of critical infrastructure, with around $2.6 billion in initial financing. NIgeria

Nigerian President Muhammadu Buhari’s government has approved the creation of a company to fast-track development of critical infrastructure, with around $2.6 billion in initial financing.

“It is envisaged that, over time, the entity will grow to naira 15 trillion , in assets and capital,” a spokesman for Vice President Yemi Osinbajo said in a statement on Friday.The company, Infra-Co, will be one of the top infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development, the statement said.

It will focus on developing public assets and reconstruction as well as new roads, rail, power and other key infrastructure sector projects.The IMF expects Nigeria’s economy to contract by at least 3 percent this year, a situation many fear will further deepen the country’s infrastructure crisis and worsen an economy already struggling with the impact of the pandemic.

 

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Ur shame dey shame me. Ghost president

I think it's a good idea, there must be a masterplan acceptable to Nigerians to be pursued by the coy (NSE listed), and takeoff funds resident with a consortium of banks & overall backed legislation that ensure interest from the fund accruing to the same coy.

Buhari is TOTALLY CONFUSED...... Please me him know there is an option to RESIGN. BuhariIsAUselessMan BuhariTormentor MBuhari

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