The Federal Executive Council has sanctioned the creation of the Renewed Hope Infrastructure Fund, aimed at enhancing social services nationwide.
Zacch Adedeji, the Chairman of the Federal Inland Revenue Services, revealed this information following the 4th FEC meeting of the year, held in Abuja.
He mentioned that the fund is designed as a Special Purpose Vehicle to draw the crucial investment needed for the country’s infrastructure development demands.
According to the FIRS chief, this effort aims to bridge the infrastructure gap of over $858 billion, which has been an obstacle to national growth.
Adedeji said that the fund aims to resolve the common concerns of legitimate investors about having a semi-governmental structure to ensure the security of their investments.
Speaking further, Adedeji said that the funds aim to generate job opportunities, foster technological advancement, and boost export activities.
