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.

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