Jonathan Nwokpor
By launching the Renewed Hope Infrastructure Development Fund, the federal government of Nigeria will raise N20 trillion in economic investment.
This was revealed on Friday during the 4th ministerial briefing in Abuja by Mohammed Idris, the minister of information and national orientation.
According to him, the fund’s objectives are to support initiatives that foster expansion, increase local value-addition, generate job prospects, and encourage exports.
“The Renewed Hope Infrastructure Development Fund (RHIDF) launch aims to raise about N20 trillion for investment in critical sectors such as the real sector of the economy, transport, social services, agriculture, and ICT, among others.
“The Fund seeks to support projects that promote growth, enhance local value-addition, create employment opportunities, and promote exports.
“For emphasis, the projects to be targeted by the fund include the construction of the Lagos-Calabar Coastal Highway, which kick-started recently; the Sokoto-Badagry Motorway; the Lagos-Kano Motorway; the Eastern Rail Lines; and the modernization of ports and aviation facilities across the country,” he stated.
Eighty-five percent of the population still receives electricity subsidies, according to Minister of Power Adebayo Adelabu, as reported by ZINGTIE at the briefing.
Adelabu commented in light of the new 15% electricity tariff hike that allows customers to have access to at least 20 hours of power.
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