The China-Exim Bank (The Export-Import Bank of China) has agreed to finance Nigeria’s railway projects linking Lagos to Kano and Lagos to Calabar, Vice President Yemi Osinbajo said.
The plan of the federal government to raise a $25 billion Infrastructural Fund from the global community and establish long term bankable projects is gaining traction, Yemi Osinbajo added.
The Nigeria Sovereign Investment Authority, which manages the country’s sovereign wealth fund, is leading the project. The Infrastructural Fund would create opportunity for commercial partners to participate in the building of the nation’s infrastructure projects alongside the federal government, Vice President Yemi Osinbajo further explained.
“We have seen considerable, favourable interests from some sovereign wealth funds and other nations,” the vice president told a delegation of the Lagos Chamber of Commerce and Industry.
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