We Invested N300bn In The Private Sector in 2021, says Osinbajo

*Officially commissions Bankers House in Abuja

Nigeria’s Vice President, Yemi Osinbajo says as part of efforts to close infrastructural gap in the private sector, the Federal Government invested an estimated N300billion in the sector in 2021.

In his keynote address at the official commissioning of Bankers House in Abuja on Thursday, Osinbajo disclosed that the government has invested N1 trillion seed capital to kick off the N15 trillion InfraCo project.

The Bankers House is an edifice erected by the Chartered Institute of Bankers in Nigeria to house its Abuja Office.

The VP disclosed all these while emphasizing the importance of the private sector to the growth of the Nigerian economy.

He noted that the success of the development programmes and reforms of the government are largely reliant on the private sector, adding that the government is willing to do whatever it takes to support the sector.

“The federal government has stepped out in front with robust investment in critical infrastructure, roads, rail, power and broadband connectivity.

“Last year in our bid to close the current infrastructure deficit we invested an estimate of N300bn. So we invested in Infraco which I am sure you have all heard about.

“InfraCo is supposed to be a 15tn Enterprise and we put in N1tn seed capital at the moment.

“The Implementation of that plan is expected to be supported by a range of fiscal and monetary policies and includes a more intentional promotion of productivity and value addition,” the VP said.

He also lauded the CIBN for its contribution to the growth of the Nigerian Banking sector and by extension the private sector and for the establishment of the House.

On his part, the Chairman of CIBN, Bayo Olugbemi said the new edifice will not only house the Institute’s Abuja Office but also the Permanent Secretariat of the Alliance of African Institute of Bankers.

He added that “the building which will be equipped with state-of-the-art ICT facilities will feature a Learning/Incubation hub, a banking hall, multipurpose hall, and a training facility sponsored by Nigeria Deposit Insurance Corporation which will be available for use by various organizations for the training of their staff.

Olugbemi disclosed that spaces are available for branding, and called on the banks and other corporate bodies to pick up available spaces to project their brands.