President Bola Tinubu, on Monday, approved the Renewed Hope Infrastructure Fund to bridge Nigeria’s funding gap of $25 billion/year in infrastructure.
In an interaction with State House correspondents after the Federal Executive Council meeting at the Presidential Villa, Abuja on Monday, the Minister of Information and National Orientation, Alhaji Mohammed Idris said that the initiative would be domiciled in the Presidency.
“Mr President, in his wisdom and with the approval of the Federal Executive Council, approved the setting up of the Renewed Hope Infrastructure Fund to be domiciled in the Presidency”, he said.
Giving further details about the development, the Chairman of the Federal Inland Revenue Service, Mr. Zacch Adedeji said the fund would focus on road, rail, agriculture, ports, and aviation.
He said that the fund would be launched in a few months after the Minister of Budget and Economic Planning, Senator Abubakar Bagudu prepares a supplementary budget to accommodate the new spending.
