The N15 trillion Infrastructure Company Limited , created by the federal government to bridge the nation’s huge infrastructure gap is to take off in the third quarter of the year, the Governor of Central Bank of Nigeria , Mr. Godwin Emefiele, has said.
In his goodwill message at the webinar, Emefiele said the federal government had approved KPMG as the financial adviser to InfraCo, adding that the firm is expected to commence operations in the third quarter of 2021. He added: “For Nigeria, we witnessed a drop in foreign exchange earnings, government revenues along with supply chain disruptions which ultimately led to the economy falling into a recession during the third quarter of 2020. Significant interventions by the monetary and fiscal authorities in key sectors of our economy such as in the manufacturing and agricultural sectors eventually helped and led to the rebound of growth during the fourth quarter of 2020 as gross domestic product grew by 0.
She stated that despite the numerous challenges confronting the country, it still remains the premium investment destination in Africa.