President Bola Tinubu has approved the appointment of the Infrastructure Corporation of Nigeria (InfraCorp) as the lead arranger and developer of Evergreen City, Nigeria’s green industrial zone.
In a statement by Ajuri Ngelale, Special Adviser on Media and Publicity to the President, the move is to ensure industrial development that meets the demands of the present and the future.
The terms of reference handed to the team include the selection of partners and consultants to undertake critical development activities, including project design, environmental impact assessments, feasibility studies, financial modelling, and market engagement.
It would also raise private funding for the development of the city and constituent projects, including coordinating with partners, development institutions, and other providers of capital and technical assistance while reporting to the Supervisory Presidential Steering Committee on Project Evergreen
Dr. Lazarus Angbazo, CEO of InfraCorp, holds a first-class bachelor’s degree in Mathematics, a master’s degree in Industrial Engineering and Operations Research from the University of Iowa, and a doctorate in Corporate Finance from New York University.
He was President and Chief Executive Officer of General Electric in Nigeria, where he doubled GE’s revenue. He was also the CEO of General Electric Grid Solutions Africa and led GE’s regional operations between 2008 and 2012 as President and CEO, West, East and Central Africa.
Tinubu also approved the establishment of the Presidential Steering Committee on Project Evergreen, the supervisory technical working group, to oversee the pioneering endeavour.
Among the members to also serve in the Presidential Steering Committee is the Special Presidential Envoy on Climate Action, as Chairman.
Others are Lolade Abiola (UN SE4ALL) as secretary; Lazarus Angbazo (CEO, InfraCorp); Salisu Dahiru (CEO, NCCC); Aminu Umar-Sadiq (CEO, NSIA); Khalil Halilu (CEO, NASENI); Abba Abubabkar Aliyu (CEO, REA); Fatima Shinkafi (CEO, SMDF); Uzoma Nwagba (CEO, CrediCorp); Bala Bello (Deputy Governor, CBN); Teni Majekodunmi (NCCC); Nana Maidugu (NSIA); Michael Ivenso (NCCC); Suleiman Yusuf (Blue Camel Energy); and Chidi Ajaere (Jet EV).
The president said he expects absolute dedication and professionalism to drive this critical project with the clear objective of making Nigeria the leading manufacturing hub in Africa for renewable energy technologies, green solutions, and climate adaptation technologies for the maximum benefit of Nigerians and Africans at large.