NEC approves additional $250m for Nigeria Sovereign Investment

The National Economic Council on Thursday approved additional investment of $250 million into the Nigeria Sovereign Investment Authority .

He had presented NSIA’s 2018 annual report and 2019 finance update to NEC, disclosing that the agency made a profit total of N44.3 billion Naira in 2018 adding that so far in 2019 as at the end of the first six months.

“To facilitate this, the NSIA will create co-investment fund to bring other investors into these projects to ensure that get to completion and the revenue model will include tolling the roads as other opportunities to ensure that these roads are viable.” he said The NEC also resolved to review the status of the ownership structure of the power Distribution Companies in the country.

Ireland Ireland Latest News, Ireland Ireland Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Nigeria Still Attractive for Investment Despite PSC Terms, Says ExxonMobil - THISDAYLIVEChineme Okafor in Abuja The Managing Director of ExxonMobil in Nigeria, Mr. Paul McGrath, yesterday, said that the Nigerian oil industry and the economy in general, were still attractive for investment. McGrath said this was despite the signing into law of the amended Deep Offshore (and Inland Basin Production Sharing Contract) Act by President Muhammadu …
Source: THISDAY LIVE - 🏆 14. / 51 Read more »