News

Tinubu sets up renewed hope infrastructure fund

President Bola Tinubu, on Monday, approved the Renewed Hope Infrastructure Fund to bridge Nigeria’s funding gap of $25bn/year in infrastructure.

The new initiative will be domiciled in the Presidency, the Minister of Information and National Orientation, Mohammed Idris, told journalists after Monday’s Federal Executive Council meeting at the Presidential Villa, Abuja.

“Mr President, in his wisdom and with the approval of the Federal Executive Council, approved the setting up of the Renewed Hope Infrastructure Fund to be domiciled in the Presidency,” he said.

See also  Oyo APC Replies Gbade Ojo, Describes Call for Dissolution of Excos as Ridiculous

Giving further details about the development, the Chairman of the Federal Inland Revenue Service, Zacch Adedeji, said the fund would focus on road, rail, agriculture, ports, and aviation.

He explained that the fund will be launched in a few months after the Minister of Budget and Economic Planning, Abubakar Bagudu, prepares a supplementary budget to accommodate the new spending.

See also  Fire Incident In Molete Kills 3 Children Of Same Parents

Details shortly…

IFRAME SYNC

About the author

OyoAffairs

Oyo Affairs is an independent news media with the main focus on Oyo state news, politics, current events, trending happenings within and around Oyo state, Nigeria

Add Comment

Click here to post a comment