April 11, (THEWILL) – The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele has said that, for Nigerian companies to focus successfully on their competencies, they need to be assured of the infrastructure that they rely upon.
Although there is a large deficit in infrastructure, Emefiele opined that with resources from the private-sector, targeted incentives from the public sector and the drive of individual citizens, Nigeria will be ready, willing and able to deliver the infrastructure that will be the foundation of our development.
The CBN Governor gave the assurance in an address on the occasion of the InfraCorp Term Sheet Signing with Independent Asset Managers on Friday.
He pointed out that the agreement between private sector operators joining together to support the Federal Government provides a practical template to solve many of the complex socio-economic problems that our Nation faces.
“From public health, climate change and the energy transition, to infrastructure and beyond, the Public Sector cannot resolve these issues by itself. The Private Sector, correctly incentivized, can deploy the critical resources and capacity to deliver successfully,” he said.
Since July, 2020 that the President gave his approval for InfraCorp Concept, Emefiele said the promoters – the Bank, the Africa Finance Corporation and the Nigerian Sovereign Investment Authority have worked assiduously with the Transaction Adviser – KPMG, and the Legal Advisers – Kenna Partners, Olaniwun Ajayi, and Ukiri and Lijadu to deliver InfraCorp as a catalyst to accelerate public-private solutions for Infrastructure.
“For Infrastructure projects originated by the public sector, InfraCorp’s goal is to shape projects for private sector financing and management. For projects originated by the private sector, InfraCorp will help shape government policy to support and sustain private sector investment”.
“Today, marks a major milestone as InfraCorp and the Infrastructure Asset Managers – the AAA Consortium, Chapel Hill Denham, Africa Infrastructure Investment Managers here in Nigeria, and Sanlam Infraworks – have concluded the initial discussions on how they will operate together to deliver infrastructure to the Nation”, Emefiele added.
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