President Muhammadu Buhari has approved the establishment of a joint ownership Infra-Co, Company. The company is to be jointly owned by both the public and private.
The company is programmed to operate as a premier infrastructure finance entity in Nigeria in a bid to promote infrastructural development in the country.
The infrastructural company will finance public projects, and work towards rehabilitating infrastructure such as road projects, hospitals etc in Nigeria.
Vice President Yemi Osinbajo is among the chairing committee to oversee the construction of the company and the project is backed by the Central Bank of Nigeria and National Economic Council.
Infraco Company is expected to reach N15 trillion within some time. This project is financed by the Presidential Infrastructure Development Fund.
Vice President Yemi Osinbajo is heading its steering committee with the company’s assets and capital expected to reach N15 trillion over time.