5 WAYS PRESIDENT BUHARI HAS POSITIVELY TRANSFORMED INFRASTRUCTURE FINANCING IN NIGERIA
The biggest challenge to infrastructure development in Nigeria over the decades has been sustainable financing. Major projects require significant funding, which the annual Federal budgets are incapable of mobilising or deploying. But this has been the model over the years: seeking to tackle everything through the budget; releasing money in bits and pieces year after year. Little wonder the years passed and no progress worth noting was made. That has since changed, since President Buhari assumed office in 2015. Here are the ways in which the administration has been unlocking capital, both within and outside the public sector, and guaranteeing a steadier stream of infrastructure financing. 1) Presidential Infrastructure Development Fund (PIDF) (2018): Established by President Buhari on February 25, 2018 with seed funding of $650 million, as a special investment vehicle for fast-tracking the completion of critical road infrastructure projects across the country. The goal of the Fund is t...