The Federal Government intends to use the Renewed Hope Infrastructure Fund, which was recently approved by the Federal Executive Council (FEC), to finance the Lagos-Kano and Eastern Rail Lines, along with other key infrastructure projects.
Nairametrics gathered this in a statement signed by Bayo Onanuga, Special Adviser to the President on Information & Strategy, where he explained in detail what the Renewed Hope Infrastructure Fund entails.
According to the statement by Onanuga, the Renewed Hope Infrastructure Fund which was unanimously approved by the Federal Executive Council on Monday, is an initiative by the President Bola Tinubu’s administration to finance critical national projects that will accelerate infrastructure and economic development in all parts of the country, particularly in road, rail construction, agriculture, aviation, education, health, energy and technology.
Furthermore, the statement pointed out that the Fund will also focus on enhancing the nation’s agricultural value chain to boost food security, as well help create employment opportunities and promote exports, among other things.