CBN Plans N15trn Take-off Equity for InfraCo Post COVID-19

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Emefiele

By Obinna Chima

As part of efforts to reposition the Nigerian economy and insulate it from external shocks after the COVID-19 pandemic, the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, on Tuesday disclosed plan by the Bank to establish a N15 trillion InfraCo Plc.

Emefiele, who disclosed this in a 27-page speech obtained by THISDAY, said the initiative would be part of efforts to ensure the diversification of the Nigerian economy.

He explained that the wholly focused infrastructure development vehicle would be managed by an independent infrastructure fund manager.

“This fund will be utilised to support the federal government in building the transport infrastructure required to move agriculture products to processors, raw materials to factories and finished goods to markets, as envisaged by the CBN ‘Going for Growth’ roundtable in March 2020,” he added.

….More details later