President Bola Tinubu has selected InfraCorp to oversee the development of Evergreen City, a green industrial zone in Nigeria. The goal is to promote sustainable industrial growth that meets both present and future demands.
President Bola Tinubu has appointed the Infrastructure Corporation of Nigeria (InfraCorp) as the lead developer for Evergreen City, Nigeria’s green industrial zone. This initiative aims to drive sustainable industrial development that addresses current and future needs.
Key Points:
- InfraCorp’s Role and Responsibilities:
- Lead Arranger and Developer: InfraCorp will oversee the development of Evergreen City.
- Project Development: Selection of partners and consultants for various development activities, including project design, environmental impact assessments, feasibility studies, financial modeling, and market engagement.
- Funding and Coordination: Raising private funding and coordinating with partners, development institutions, and other capital and technical assistance providers.
- Reporting: InfraCorp will report to the Supervisory Presidential Steering Committee on Project Evergreen.
- Leadership:
- Dr. Lazarus Angbazo: CEO of InfraCorp, with an extensive background in mathematics, industrial engineering, operations research, and corporate finance. He previously served as President and CEO of General Electric in Nigeria and General Electric Grid Solutions Africa.
- Presidential Steering Committee on Project Evergreen:
- Composition: Includes various high-level officials and experts.
- Special Presidential Envoy on Climate Action: Chairman.
- Lolade Abiola (UN SE4ALL): Secretary.
- Notable Members: Lazarus Angbazo (CEO, InfraCorp), Salisu Dahiru (CEO, NCCC), Aminu Umar-Sadiq (CEO, NSIA), Khalil Halilu (CEO, NASENI), Abba Abubakar Aliyu (CEO, REA), Fatima Shinkafi (CEO, SMDF), Uzoma Nwagba (CEO, CrediCorp), Bala Bello (Deputy Governor, CBN), Teni Majekodunmi (NCCC), Nana Maidugu (NSIA), Michael Ivenso (NCCC), Suleiman Yusuf (Blue Camel Energy), and Chidi Ajaere (Jet EV).
Objectives:
- Industrial Hub: The project aims to make Nigeria the leading manufacturing hub in Africa for renewable energy technologies, green solutions, and climate adaptation technologies.
- Sustainable Development: Focus on creating a sustainable industrial zone that meets both present and future demands.
- Economic and Environmental Benefits: Enhancing Nigeria’s economic growth while ensuring environmental sustainability.
Expectations:
President Tinubu emphasized the need for absolute dedication and professionalism in driving this critical project, aiming for maximum benefits for Nigerians and Africans at large. The initiative aligns with broader goals of promoting renewable energy, green solutions, and climate adaptation technologies.
This development represents a significant step towards sustainable industrial growth in Nigeria, leveraging the expertise and coordination of various stakeholders to achieve its ambitious goals.
