BREAKING: Jubilation As Tinubu Approves New Fund, Details Emerges

President Bola Tinubu has reportedly approved the Renewed Hope Infrastructural Development fund

 

The approved funds will have an effect across all sectors in the country, including but not limited to areas of agriculture, energy, and transportation

 

A statement from Tinubu’s support group noted that the fund will promote growth and enhance local value-addition

 

FCT, Abuja – President Bola Tinubu has approved funds for the Renewed Hope Infrastructural Development for effective infrastructural development in transportation, energy, agriculture, healthcare, port, education and aviation.

 

According to a Tinubu/Shettima media support group tweet, the projects promote growth, enhance local value-addition, stimulate technological innovations and exports and create employment opportunities

 

Why Tinubu approve funds for infrastructural projects

 

The project’s objectives include creating an innovative infrastructure investment vehicle to attract and concentrate money, acting as a dynamic engine of economic growth.

 

Execute important and carefully selected national infrastructure projects in a variety of important sectors, including road, rail, agriculture (irrigation, storage, logistics, and cold chain), ports, and aviation, among others.

 

Make effective use of and combine available low-interest loans, such as Eurobonds and concessionary loans, by acquiring other advantageous financing sources and budgetary allotments.

 

What you should know about Tinubu infrastructural funds

 

Guarantee Nigeria makes the best possible agreements for the funding, building, operation and maintenance of the chosen projects, guaranteeing the country’s best possible long-term results.

 

The Fund will determine the best methods for its investment strategy, including equity investments, co-funding (public-private partnerships) with important organizations and international development institutions, and direct project financing through budgetary allocations and SPVs.

 

The move was part of President Tinubu’s strategy to boost the country’s infrastructural development across all sectors.

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