BREAKING:Jubilation Ensues as Tinubu Greenlights New Funds, Unveils Details
- President Bola Tinubu has reportedly approved the Renewed Hope Infrastructural Development fund
- The approved funds will have an effect across all sectors in the country, including but not limited to areas of agriculture, energy, and transportation
- A statement from Tinubu’s support group noted that the fund will promote growth and enhance local value-addition
FCT, Abuja – President Bola Tinubu has approved funds for the Renewed Hope Infrastructural Development for effective infrastructural development in areas of transportation, energy, agriculture, healthcare, port, education and aviation across the country.
According to a Tinubu/Shettima media support group tweet, the projects promote growth, enhance local value-addition, stimulate technological innovations and exports and create employment opportunities.
Tinubu approved funds for renewed hop infrastructural development
Photo Credit: Bola Ahmed TinubuSource: Twitter
Why Tinubu approve funds for infrastructural projects
The objectives of the project include creating an innovative infrastructure investment vehicle to attract and concentrate money, acting as a dynamic engine of economic growth.
Execute important and carefully selected national infrastructure projects in a variety of important sectors, including road, rail, agriculture (irrigation, storage, logistics, and cold chain), ports, and aviation, among others.
Make effective use of and combine available low-interest loans, such as Eurobonds and concessionary loans, with the acquisition of other advantageous financing sources and budgetary allotments.
What you should know about Tinubu infrastructural funds
Guarantee Nigeria makes the best possible agreements for the funding, building, and then operation and maintenance of the projects that are chosen, therefore guaranteeing the best possible long-term results for the country.
The Fund will determine which methods are best for its investment strategy, including equity investments, co-funding (public-private partnerships) with important organizations and international development institutions, and direct project financing through budgetary allocations and SPVs.
The move was part of President Tinubu’s strategy to boost the country’s infrastructural development across all sectors.
See the tweet here:
Source: TheTalk.NG
