President Bola Ahmed Tinubu has approved the Renewed Hope Infrastructure Fund, News About Nigeria reports.
The Minister of Information and National Orientation, Mohammed Idris, disclosed this to newsmen on Monday, after the Federal Executive Council meeting at the Presidential Villa, Abuja.
He noted that the fund is to bridge Nigeria’s funding gap of $25 billion per year in infrastructure and will 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 stated.
Speaking also on the development, the Chairman of the Federal Inland Revenue Service (FIRS), Zacch Adedeji, stated that the fund would focus on road, rail, agriculture, ports, and aviation.
He explained that the fund will be launched in a few months after the Minister of Budget and Economic Planning, Abubakar Bagudu, prepares a supplementary budget to accommodate the new spending.
Details Soon…
