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Federal government to set up $25 billion fund to invest in infrastructure

December 2, 2015 7:50 AM

The federal government has announced plans to set up a $25 billion fund for infrastructure investment.

Nigeria's poor infrastructure

Nigeriarealestatehub reports that the Federal Government has announced it's plans to set up a $25 billion infrastructure fund.

According to the Minister of Finance, Mrs. Kemi Adeosun, this fund will help solve Nigeria's infrastructure problem.

“Government is already looking to set up a $25 billion fund wholly dedicated to infrastructure investments. A crucial assignment we have for the capital market community is to come up with other innovative ways of mobilizing the capital needed to address Nigeria’s infrastructure challenge."

"We desperately need such a market to emerge in order to tackle Nigeria’s biggest challenge of huge infrastructure deficit and unacceptable level of unemployment. As you all know, to grow our economy, we require significant funds to modernize our critical infrastructure."

The announcement was made at the inauguration of the 10-year Capital Market Master Plan, Nigeria Investor Protection Fund (NIPF), and the launch of the Corporate Governance Scorecard for quoted companies by the Securities and Exchange Commission (SEC) in Lagos.