Nigeria creates $2.6 billion infrastructure company ...Kuwait

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Nigeria creates $2.6 billion infrastructure company
Nigeria’s president has announced the creation of a multi-billion dollar company to finance infrastructure projects. Nigerian President Muhammadu Buhari's government has approved the creation of a company to fast-track development of critical infrastructure, with around $2.6 billion in initial financing. Africa's most populous country slipped into recession in its third quarter for the second time in four years, hit by the coronavirus pandemic and a fall in oil prices, and faces a huge infrastructure deficit. "It is envisaged that, over time, the entity will grow to 15 trillion ($39.3 billion), in assets and capital," a spokesman for Vice President Yemi Osinbajo said in a statement on Friday

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