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Nigeria: Govt Hires Money Managers for $37 Billion Infrastructure Fund
Leadership, 14 July 2021
The federal government has named four asset managers to manage the $37 billion investment development fund in some sectors of the economy. Read more »
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Nigeria: N15tn Infrastructure Company to Take Off Third Quarter - Emefiele
This Day, 14 July 2021
The N15 trillion Infrastructure Company Limited (InfraCo), created by the federal government to bridge the nation's huge infrastructure gap is to take off in the third quarter of… Read more »
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Nigeria: Country Loses $26.3bn to Oil Theft, Other Crimes Annually - Buhari
Daily Trust, 14 July 2021
President Muhammadu Buhari says Nigeria loses at least $26.3bn to crude oil thieves, pirates, kidnappers, smugglers and other criminals annually. Read more »
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Nigeria: Nigeria to Set Up N1 Trillion Company to Build Infrastructure
Premium Times, 12 February 2021
It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital. Read more »
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Nigeria: Buhari Okays Establishment of Infra-Co to Address Nigeria's Infrastructure Deficit
This Day, 12 February 2021
President Muhammadu Buhari has approved the establishment of Infra-Co, a Public Private Partnership styled Infrastructure company with an initial seed capital of N1 trillion. Read more »
Nigeria's Infrastructure Fund In Hands of Asset Managers
The government has selected four asset managers to run the U.S.$37 billion funds set up to drive investment in roads, railways, and power projects in Nigeria. The pool of funds by a private sector-led infrastructure company, Infra-Co, was established for the construction of critical projects to help accelerate growth in the country.
The selected asset managers include Netherlands-based Sanlam Infraworks; AIIM, a unit of South Africa's Old Mutual Group; Lagos-based Chapel Hill Denham; and Triple A, a consortium comprising AfricaPlus Partners and Arc Asset Management as well as Afrinvest West Africa, a Nigerian investment bank. According to Central Bank Governor Godwin Emefiele, the infrastructure corporation is expected to begin full operation by the third quarter of 2021.
In February 2021, President Muhammadu Buhari approved U.S.$2.4 billion for Infra-Co to help close the huge infrastructure deficit in the country. The president also said that Nigeria loses U.S.$26.6 billion annually to piracy and sea robbery - this was disclosed while he commissioned the Falcon Eye system to boost maritime security.
InFocus
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President Muhammadu Buhari wants to borrow another U.S.$6.1 billion to fund the deficit in the 2021 national budget. The government expects the budget deficit to be financed ... Read more »
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The parliament has passed a U.S.$2.4 billion supplementary budget to address rising insecurity in the country and fund Covid-19 vaccines. The country is grappling with mass ... Read more »
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In developing economies, many people are excluded in various ways from financial services. Emmanuel Mogaji for The Conversation approached the top managers of five ... Read more »
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President Muhammadu Buhari has justified the government's borrowing to finance infrastructure projects. However, some experts are calling on the government to consider other ... Read more »
