Jubilation as Tinubu Approves New Funds, Details Emerge
- President Bola Tinubu has reportedly approved the Renewed Hope Infrastructural Development fund
- The approved funds will have an effect across all sectors in the country, including but not limited to areas of agriculture, energy, and transportation
- A statement from Tinubu's support group noted that the fund will promote growth and enhance local value-addition
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FCT, Abuja - President Bola Tinubu has approved funds for the Renewed Hope Infrastructural Development for effective infrastructural development in transportation, energy, agriculture, healthcare, port, education and aviation.
According to a Tinubu/Shettima media support group tweet, the projects promote growth, enhance local value-addition, stimulate technological innovations and exports and create employment opportunities.
Source: Twitter
Why Tinubu approved funds for infrastructural projects
The project's objectives include creating an innovative infrastructure investment vehicle to attract and concentrate money, acting as a dynamic engine of economic growth.
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Execute important and carefully selected national infrastructure projects in a variety of important sectors, including road, rail, agriculture (irrigation, storage, logistics, and cold chain), ports, and aviation, among others.
Make effective use of and combine available low-interest loans, such as Eurobonds and concessionary loans, by acquiring other advantageous financing sources and budgetary allotments.
What you should know about Tinubu's infrastructural funds
Guarantee Nigeria makes the best possible agreements for the funding, building, operation and maintenance of the chosen projects, guaranteeing the country's best possible long-term results.
The Fund will determine the best methods for its investment strategy, including equity investments, co-funding (public-private partnerships) with important organizations and international development institutions, and direct project financing through budgetary allocations and SPVs.
The move was part of President Tinubu's strategy to boost the country's infrastructural development across all sectors.
Below is the tweet:
Lawyer reacts to the Renewed Hope Initiative
Barrister Titilope Anifowoshe, in her reaction to the development while speaking with Legit.ng, called for transparency and accountability in the implementation of the project.
She said:
"To ensure the Nigerian masses feel the impact, we must prioritize transparency, accountability, and efficient execution. We should be concerned with these critical questions rather than debating whether the initiative is purely political."
Kidnapping: Tinubu tells army three things to do
Legit.ng earlier reported that Tinubu was commented on the rescue of the schoolchildren who were kidnapped alongside some of their teachers in Kaduna state.
According to the president, urgency, attention, and dedication are key in responding to mass abduction and rescue operations.
Tinubu then saluted the Nigerian army, the national security adviser, Governor Uba Sani of Kaduna state and everyone involved in the rescue operation.
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Source: Legit.ng
