News

FG to raise N20trn from launch of Renewed Hope fund

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.

Please don’t forget to “Allow the notification” so you will be the first to get our gist when we publish it. 
Drop your comment in the section below, and don’t forget to share the post.

Jonathan Nwokpor

View Comments

Recent Posts

US election: Obama finally reacts over Trump’s victory

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago

BREALING: Libya repatriates 166 Nigerians back home

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago

VIDEO: OMG! see what Davido’s wife, Chioma was caught on camera doing inside bedroom

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago

Fake pastor grabs woman’s breăst in the name of deliverance, see what happened later

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago

VIDEO: Woman with 2 private parts reveals three things her husband doesn’t like her discussing in public

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago

After Chief of Army staff was confirmed dead, see what Simon Ekpa said

Keep up with latest news and be part of our weekly giveaways and airtime sharing,…

11 hours ago