Abuja, March 25, 2025 – The Federal Executive Council has approved the creation of the Renewed Hope Infrastructure Fund to enhance infrastructure development across the country.
Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, disclosed this on Monday after the Federal Executive Council (FEC) meeting.
He said the fund was designed as a special purpose vehicle to drive the crucial investment needed for the country’s infrastructure development demands.
Adedeji said the plan of the Federal Government had been to bridge the infrastructure gap of over $858 billion that had been an obstacle to national growth.
He said the fund would resolve the common concerns of legitimate investors about having a semi-governmental structure to ensure the security of their investments.
“We put a holistic approach to how do we sustainably mobilise resources to actually fund the development of the country,” he said.
“So, this innovative fund, consolidate a system resource to drive economic growth and connectivity across sectors like transport, agriculture, aviation education and others.
“It aims for inclusive progress, leaving no community behind.
“The key objective of the fund is to invest in nationally critical projects in sectors that will promote growth and has local value addiction through backward, forward and parallel linkages,” Adedeji said. (GBN)
