President Bola Ahmed Tinubu has stated that his administration inherited significant liabilities from his predecessors, expressing concern over serious deficits in Nigeria’s port and power infrastructure, as well as agro-allied facilities.
Despite these challenges, he acknowledged the presence of assets inherited as well. This declaration was made during negotiations in Mecca, Saudi Arabia, where President Tinubu discussed securing a multi-billion dollar infrastructure finance facility from the Islamic Development Bank.
The aim is to address these deficits and fund a diverse portfolio of infrastructure projects at both federal and sub-national levels in Nigeria.
The announcement of these negotiations came through a statement from the President’s spokesman, Ajuri Ngelale, emphasizing Nigeria’s potential as a beacon of hope for Africa.
President Tinubu expressed determination to create a promising future for the nation’s youth through high-yielding investments, foreseeing seamless processes that attract investor money into and out of the country.