The Interview Editors
The federal government is planning to hire an asset manager for the new Infrastructure Corporation, a Bloomberg reported disclosed on Thursday.
The corporation is designed to raise as much as N15trn ($36.7bn) for projects and to accelerate growth in Africa’s biggest economy.
The CBN and its funding partners – Africa Finance Corporation (AFC) and state-owned Nigeria Sovereign Investment Authority (NSIA) – are seeking independent managers, according to the report.
President Muhammadu Buhari this month approved a seed capital of N1trn for Infra-Corp, to help fund projects from roads to railways and power plants.
PricewaterhouseCoopers, Boston Consulting Group, McKinsey and KPMG are said to have declared their interest as transaction advisers.
According to Bloomberg, Ukiri Lijadu and Co. and Kenna Partners have also been appointed legal advisers.
The report says PricewaterhouseCoopers and KPMG didn’t immediately answer calls seeking comment on Wednesday, while calls to Ukiri Lijadu and McKinsey didn’t connect. Representatives at Kenna Partners and BCG couldn’t comment straightaway when called.
