Nigeria: Tinubu Appoints Infracorp As Lead Developer of Nigeria's Green Industrial Zone, Evergreen City

19 May 2024
This Day (Lagos)
By Deji Elumoye in Abuja

President Bola Tinubu has approved the appointment of The Infrastructure Corporation of Nigeria (InfraCorp) as the Lead Arranger and Developer of Evergreen City, Nigeria's green industrial zone.

This move, according to a release issued on Sunday by presidential spokesperson, Ajuri Ngelale, is in line with the President's commitment to ensure industrial development that meets the demands of the present and the future.

The appointment of InfraCorp as Lead Arranger and Developer is with the following terms of reference:

  • Selection of partners/consultants to undertake critical development activities, including project design, environmental impact assessments, feasibility studies, financial modelling, and market engagement.
  • Raising private funding for the development of the city and constituent projects.
  • Coordinating with partners, development institutions, and other providers of capital and technical assistance.
  • Reporting to the Supervisory Presidential Steering Committee on Project Evergreen.

The CEO of InfraCorp, Dr. Lazarus Angbazo, holds a first-class Bachelor's degree in Mathematics; a Master's degree in Industrial Engineering and Operations Research from the University of Iowa, and a Doctorate degree in Corporate Finance from the New York University.

He was President and Chief Executive Officer of General Electric in Nigeria, where he doubled GE's revenue. He was also the CEO of General Electric Grid Solutions Africa and led GE's regional operations between 2008 and 2012 as President and CEO, West, East & Central Africa.

President Tinubu also approved the establishment of a 15-man Presidential Steering Committee on Project Evergreen, the supervisory technical working group, to oversee the pioneering endeavour.

The committee membership include Ajuri Ngelale, Special Presidential Envoy on Climate Action - Chairman; Lolade Abiola (UN SE4ALL) - Secretary; Lazarus Angbazo (CEO, InfraCorp); Salisu Dahiru (CEO, NCCC); Aminu Umar-Sadiq (CEO, NSIA); Khalil Halilu (CEO, NASENI); Abba Abubabkar Aliyu (CEO, REA) and Fatima Shinkafi (CEO, SMDF).

Other members of the presidential committee are Uzoma Nwagba (CEO, CrediCorp); Bala Bello (Deputy Governor, CBN); Teni Majekodunmi (NCCC); Nana Maidugu (NSIA); Michael Ivenso (NCCC);

Suleiman Yusuf (Blue Camel Energy) and Chidi Ajaere (Jet EV) .

The President, according to the statement, expects absolute dedication and professionalism to drive this critical project with the clear objective of making Nigeria the leading manufacturing hub in Africa for renewable energy technologies, green solutions, and climate-adaptation technologies for the maximum benefit of Nigerians and Africans at large.

Read the original article on This Day.

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