CBN GOV URGES PRIVATE SECTOR TO FLOAT INFRASTRUCTURE BOND

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele has urged corporate bodies in the country to support the Federal Government in its desire to develop infrastructure in Nigeria.

Emefiele charged players in the private sector to take advantage of the Presidential Order 7 to raise infrastructure bonds at concessionary rates.

The apex bank boss made the call at the weekend, during an inspection of the on-going road construction from the Apapa Port to the Lagos-Ibadan Expressway toll gate being undertaken by the Dangote Group.

He commended President Muhammadu Buhari for signing the Executive Order Number 7, which, he said, opened the opportunity for private companies to intervene in infrastructure.

According to Emefiele, the Apapa Port road being constructed by the Dangote Group was comparable to those constructed in countries with more developed technology.

“It is a good thing for this country. When we talk about the Ease of Doing Business, you can imagine a situation whereby people have been complaining about the ease of transporting their goods out of the Apapa port,” he added

While commending Alhaji Dangote for taking the initiative, Mr. Emefiele expressed hope that the road would ease the traffic challenge on the route, particularly, for trucks conveying cleared goods from the ports.

Emefiele further lauded the Dangote Group for using local content, stressing that “this is 100 per cent local content. Alhaji Dangote uses his cement on this road, the rods, I understand, are coming from African Foundries that smelted waste steel, which is converted into iron bars and are being used for the road.”

Speaking earlier, Alhaji Aliko Dangote assured that the first phase of the construction would be ready before the end of December 2019.