Atiku To Create 9 Trillion Naira Infrastructure Fund
Presidential candidate of the Peoples’ Democratic Party, PDP Atiku Abubakar plans to establish a $25 billion fund, about 9 trillion naira specifically for infrastructure.
According to Atiku, the special vehicle will support private sector investment in infrastructure in his government if elected next month.
This is part of his plans to revive the economy.
Atiku, a businessman who served as vice president between 1999 and 2007, has promised to double the size of Nigeria’s economy to $900 billion by 2025.
He is the main challenger to President Muhammadu Buhari in the February 16 election.
“Our vision is to accelerate investment to double our infrastructure stock to approximately 50 percent of GDP by 2025 and 70 percent by 2030,” Abubakar said in a statement.
Part of Abubakar’s plan if elected would be to close at 60-naira premium between the official exchange rate and the parallel market rate against the U.S. dollar, and channel a fund for petrol subsidies into health and education spending.
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