Backbone Infrastructure Nigeria Limited , has announced its intention to invest $172 billion to develop various infrastructures in the country.
Last year, the Minister of Industry, Trade and Investment, Doris Aniete, said the government has secured $30 billion in commitments from foreign investors. Owonka said that the company intends to align with the current administration’s infrastructure plan, saying that a consistent influx of investment, as proposed by the company, is preferable to isolated investments by other investors especially in the mining sector.
The CEO stating plans for the mining sector noted that the company is ready to invest $4 billion, “to explore mineral resources but we need data and that is also one of the offers we proposed so that we can bring in our expertise and help the government obtain accurate data and then we can explore those minerals. This partnership will help the government plan to reduce dependence on crude oil. We are also doing this across all the ministries because it’s a $172bn investment drive.
“We want to help address the energy gap through the use of renewables, so one of our subsidiaries focuses on renewables and how we can address that. We are going to bring in innovative ways of funding through financier engineering to raise funds that would address the infrastructure gap.”
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