A lot of private investment companies are showing interest in the N15 trillion Infrastructure Company Limited (InfraCo) that will begin operation in the third quarter of the year, the Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has said.
Emefiele disclosed this while delivering a goodwill message at an investors’ webinar designed to showcase the investment opportunities in Nigeria’s privatisation and economic reforms programmes on Tuesday.
The webinar was put together by the Bureau of Public Enterprises (BPE) in collaboration with the Nigerian Investment Promotion Commission (NIPC) and the Nigerian Exchange Group (NGX).
The InfraCo, was established through a collaboration of the CBN, Africa Finance Corporation (AFC) and the Nigeria Sovereign Investment Authority (NSIA) with a startup funding of N1 trillion for the construction of critical infrastructure projects to help accelerate growth in the country.
READ ALSO: Bears Maintain Grip On Stock Exchange, As FBNH, Custodian Record Losses
According to the CBN governor, the InfraCo has generated huge interest in deploying private capital to for infrastructure, adding that the approval of the vice president has been secured to appoint KPMG as transaction advisers.
He said, “I’m happy to acknowledge that the establishment of InfraCo has generated a lot of interest from both local and international private sector fund managers.
“They are keen to work with the promoters of InfraCo in deploying private sector capital to support investments in key infrastructure in Nigeria.
“Also, only recently, we obtained approval of asset managers. So following conclusion of these arrangements and other activities, I would like to assure us that InfraCo is expected to begin full operation by the third quarter of 2021.”
“Work has indeed attained an advanced stage and we have received the approval of the Chairman of the Steering Committee, Vice President Yemi Osinbajo, for the appointment of KPMG as the transaction advisers.”
