Buhari approves establishment of N1 trillion company to build infrastructure

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President Muhammadu Buhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of 1 Trillion Naira.

It is envisaged that, over time, the entity will grow to 15 Trillion Naira in assets and capital.

Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council and the Central Bank of Nigeria (CBN).

The president had asked Vice President Yemi Osinbajo to chair a Steering Committee tasked with setting up the company. The initial seed capital for the entity will come from the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority and the Africa Finance Corporation.

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