Home BUSINESS CBN Gov Encourages Private Sector To Participate In Infrastructure Development

CBN Gov Encourages Private Sector To Participate In Infrastructure Development

The Governor, Central Bank of Nigeria (CBN), Godwin Emefiele has advised corporate bodies in the country to take advantage of the Presidential Order 007 to raise infrastructure bonds at concessionary rates to support the federal government in its desire to develop infrastructure in Nigeria.
Emefiele who spoke today, November 23 during the inspection of the on-going road construction from the Apapa Port to the Lagos-Ibadan Expressway toll gate being undertaken by the Dangote Group, commended President Muhammadu Buhari for signing the Executive Order Number 007, which opened the opportunity for private companies to intervene in infrastructure.
According to him, the Apapa Port road being constructed by the Dangote Group is comparable to those constructed in countries with more developed technology.
“It is a good thing for this country. When we talk about the Ease of Doing Business, you can imagine a situation whereby people have been complaining about the ease of transporting their goods out of the Apapa port.”
The CBN boss commended Alhaji Dangote for taking the initiative, even as he expressed hope that the road would ease the traffic challenge on the route, particularly for trucks conveying cleared goods from the ports.
He commended the Dangote Group for using 100 percent local content for the project.

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Dangote group uses the cement it produces on the road, even as the rods are procured from African Foundries that smelted waste steel, which is converted into iron bars and are being used for the road.
Speaking earlier, Alhaji Aliko Dangote assured that the first phase of the construction would be ready before the end of December 2019.