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Nigeria Aims to Boost Infrastructure with New Financing Facility

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The Nigerian government, in partnership with the Nigerian Sovereign Investment Authority (NSIA), is looking to tackle the country’s infrastructure challenges with a new initiative called the Nigeria Infrastructure Finance and Guarantee Facility (NIFF).

This facility is designed to provide credit and guarantees specifically for local infrastructure projects, bridging the gap in financing that many of these critical developments face.

The idea for the NIFF was discussed during a meeting between Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy, and a delegation from NSIA, led by its Managing Director, Mr. Aminu Umar-Sadiq.

The NSIA delegation included key members such as Executive Director Mr. Kola Owodunni and Financial Controller Mr. Victor Sesere, as well as representatives from PwC, Mr. Tolu Adeleke and Ms. Olumorin Motunrayo.

During the meeting, they emphasized the importance of innovative solutions to alleviate Nigeria’s infrastructure financing gap, highlighting the critical role the proposed NIFF can play in driving economic development.

Rachel Adams

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