State governments have begun approaching the capital market through bonds to develop infrastructure in their states. Many of the states are in dire financial straits owing to the economic headwinds caused by the double jeopardy of the COVID-19 pandemic and the sharp drop in global oil price that have depleted their main sources of revenue …read more →
Infrastructure Financing
Investment in Infrastructure will Boost Nigeria’s Economy – Orji, NSIA Boss
The Chief Executive Officer, Nigeria Sovereign Investment Authority (NSIA), Mr. Uche Orji, has again stressed the need for Nigeria to turn its infrastructure into investible assets by investing more in it. According to him, the National Pension Funds will be a veritable source of revenue to fund national infrastructure investment, if properly managed. Orji, while …read more →
Nigeria to Strengthen Infrastructure Company to Boost Recovery
Nigerian state-owned Infrastructure Credit Guarantee Company plans to raise additional capital to fund critical projects in Africa’s biggest economy. The unit of Nigeria Sovereign Investment Authority is looking to raise equity and debt capital in 2021 and go into risk sharing with development finance institutions to boost its insurance guarantee capacity, Chief Executive Officer Chinua Azubike said …read more →
British Emerging Africa Infrastructure Fund Pumps $31mn in Energy Project in Ghana
The British Emerging Africa Infrastructure Fund (EAIF), managed by Ninety One, agreed to grant a 10-year loan worth $31 million to LNG BV, a joint venture between Helios Investment Partners and Gasfin Development, which develops and operates natural gas facilities for developing countries. The credit line will finance the construction of an LNG regasification unit at …read more →
Adesina wants Nigeria, Others to Unlock $1trn Pension Funds
The President of the African Development Bank (AfDB), Dr. Akinwunmi Adesina, has called on policymakers in Nigeria and other African countries to unlock over $1 trillion funds locked in pension and insurance assets to bridge the continent’s huge infrastructure deficit. Speaking at the Bloomberg Africa Media Initiative (ABMI) 20 Innovator Chat 2020 yesterday, Adesina said …read more →
African Development Bank to Fund Rwanda Coding Academy
The African Development Bank has signed a grant agreement with the Ministry of ICT and Innovation in Rwanda to support the Rwanda Coding Academy, set up to develop top technology talent to drive a booming, innovation-driven digital economy in the East African nation. The Rwanda Coding Academy was established as a proof-of-concept (PoC) model school …read more →
FG Commits N78.96 billion on Aviation Infrastructure Development Roadmap in 2021
The Minister of Aviation, Senator Hadi Sirika has said that Nigeria would commit N78.96 billion on Aviation Infrastructure Development Roadmap in 2021 noting that the emphasis would be on the implementation of the Aviation Roadmap as approved by President Muhammad Buhari. Sirika who was responding to questions from the House of Representatives Committee on Aviation …read more →
European Commission Commits €54 Million for Sustainable Transport Infrastructure
The European Commission has announced €54 million in funding for sustainable and safe transport infrastructure in Europe. Five projects have been selected to receive funds under the Connecting Europe Facility’s (CEF) Transport Blending Facility rolling call, an instrument that is used to mix EU and private financing. Dirk Becker, Director of the Innovation and Networks Executive Agency (INEA) …read more →
Access Bank Commissions Oniru Road Project in Partnership with Lagos State Government
As part of efforts to ensure a hitch-free movement around the Victoria Island – Lekki Axis, Access Bank PLC on Thursday, 24 September, commissioned its Oniru road project with the Executive Governor of Lagos State, Babajide Sanwo-Olu, in attendance. Having moved its corporate Head Office from Danmole Street, Victoria island to Oniru, Access Bank undertook …read more →
AfDB to Develop PPP Framework for Infrastructure Development in Africa
The African Development Bank (AfDB), has begun developing a Public-Private Partnership (PPP) framework to strengthen support for PPPs and enhance economic and social infrastructure development in the continent. According to a statement from AfDB, representatives of the bank, Development Finance Institutions (DFIs), private sector, and professional associations made this known in a virtual meeting hosted …read more →