The agitation for infrastructure development in Nigeria overwhelms the provision. With the present value of the country’s infrastructure at 35% of Gross Domestic Product (GDP), paling considerably in comparison to larger economies standing at 70% of GDP, there is a need for urgent action to bridge the uncomfortable gap.
Nigeria plans to hire an asset manager for its new Infrastructure Corp. of Nigeria Ltd., designed to raise as much as 15 trillion naira ($36.7 billion) for projects and to accelerate growth in Africa’s biggest economy.
Abborfing to Bloomberg, the nation’s central bank and its funding partners
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