The Infrastructure Bank is positioning itself to work closely with Nigeria’s state governments to optimise the new Infrastructure Support Fund established by the federal government, according to the bank’s acting MD/CEO, Nkiru Chime.
The fund was created to help states manage the impacts of the recent petrol subsidy removal. By partnering with state governments, the Infrastructure Bank aims to ensure the fund achieves maximum impact.
“Attracting private capital is key to bridging Nigeria’s substantial infrastructure deficit,” said Chime. She explained that the Infrastructure Bank is advocating for policies that enable greater private sector investment in infrastructure.
The bank is also working to identify viable projects ready for private sector funding. “The private sector needs commercially viable projects to invest in,” noted Chime.
With its strategy to facilitate partnerships between the public and private sectors, the Infrastructure Bank hopes to mobilise capital to reduce Nigeria’s infrastructure gap. The cooperation with state governments on the new Infrastructure Support Fund is part of this strategic approach.