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President Tinubu Sets Up Renewed Hope Infrastructure Fund

Written by on March 25, 2024

In a significant move aimed at addressing Nigeria’s infrastructure funding shortfall of $25 billion annually, President Bola Tinubu has greenlit the establishment of the Renewed Hope Infrastructure Fund.

This transformative initiative, announced by the Minister of Information and National Orientation, Mohammed Idris, following today’s Federal Executive Council meeting at the Presidential Villa in Abuja, marks a pivotal step towards bolstering the nation’s infrastructure landscape.

Chairing the fund’s establishment within the Presidency underscores the government’s commitment to expediting infrastructure development across key sectors. Zacch Adedeji, Chairman of the Federal Inland Revenue Service, elaborated on the fund’s focus areas, which include roads, railways, agriculture, ports, and aviation.

Adedeji further outlined that the fund’s rollout is imminent, with preparations underway for its launch in the coming months. The Minister of Budget and Economic Planning, Abubakar Bagudu, is tasked with crafting a supplementary budget to accommodate the necessary expenditures, facilitating the realization of this ambitious initiative.

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