PRES. TINUBU APPROVES RENEWED HOPE INFRASTRUCTURE FUND
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In order to close Nigeria’s $25 billion annual infrastructure funding gap, President Bola Tinubu approved the Renewed Hope Infrastructure Fund on Monday.
Following the Federal Executive Council meeting on Monday at the Presidential Villa in Abuja, Mohammed Idris, the Minister of Information and National Orientation, informed the media that the new initiative will be based 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.
The Federal Inland Revenue Service Chairman, Zach Adedeji, provided more information about the development, stating that the fund would prioritize road, rail, agricultural, ports, and aviation.
He clarified that the fund will be activated in a few months following the preparation of a supplemental budget by Abubakar Bagudu, the Minister of Budget and Economic Planning, to account for the additional spending.
More details shortly…..
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