President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital.
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Laolu Akande, senior special assistant on media and publicity to Vice-President Yemi Osinbajo, said in a press statement on Friday that the new entity is expected to grow to N15 trillion in assets and capital over time.
Akande said Buhari had asked Osinbajo to chair a steering committee tasked with setting up the company.
“The Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development,” the statement read.
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“The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria.