The Presidential candidate of the main opposition Peoples Democratic Party (PDP), Alhaji Atiku Abubakar has vowed that he becomes the President of Nigeria, he will promote private investment in power, among other sectors.
Atiku, in a statement today, July 20 in reaction to what he he called “a total National Grid Collapse at precisely 12:23pm today, the 6th time this year alone, said that due to the priority that he places on the power sector upon which the successes of other sectors are hinged, “I am proposing innovative financing of infrastructure that will involve the facilitation of a review of the financial, legal, and regulatory environment to promote private investment in power, among other sectors.
“I’ll promote the incentivisation, with tax breaks, a consortium of private sector institutions to establish an Infrastructure Debt Fund (IDF) to primarily mobilise domestic and international private resources for the financing and delivery of large infrastructure projects across all the sectors of the economy. The IDF will have an initial investment capacity of approximately US$20 billion.
“In addition, I’ll cause the creation of an Infrastructure Development Credit Guarantee Agency to complement the operation of the IDF by de-risking investments in infrastructure to build investor confidence in taking risks and investing capital.”