ABOUT N4.2 billion has been proposed by the Kwara State government to launch its Infrastructure Development Fund tagged ‘InfraFund Kwara,’ IF-K in the Energy Sector in the fourth quarter of 2016. Governor Abdulfatah Ahmed who revealed this during an interaction with community leaders in his office on Friday, said “IF-K has been codified into the Kwara State Public Private Partnership Law which was assented to in 2015.” He noted that the IF-K project was a result of the Kwara Infrastructure Investment and Finance strategy which he approved following an infrastructure assessment exercise that was concluded in 2014. Ahmed further maintained
that the outcome of the exercise showed an estimated N225 billion deficit value of infrastructure across all the 16 local government areas and spanning all sectors, which required both government and private investment, in order to boost the state’s productivity and wealth creation. “The main objectives of IF-K are to provide a guided, systemic and outward facing framework for continuous and consistent infrastructure development, optimally leverage private sector or resources for infrastructures development and maximize the state’s resource allocation policies,” Ahmed added. Meanwhile, the chief economic assistant to the governor, Mr. Abayomi Ogunsola while providing further details of IF-K, disclosed that the fund would
inculcate confidence in investors and encourage broader and deeper interactions with the Kwara State government from different types of private or non- private partners. Ogunshola further stressed that the project “will also promote banking and non- banking financial intermediary participation in infrastructure funding, provide incentives and serve as catalyst to mobilising appropriate private sector capital, efficiency and expertise for the state’s infrastructure projects. “IFK has an expected outcome of attaining stable development of Kwara residents and businesses. It is also one of the avenues for meeting the state’s current infrastructure needs and also a critical vehicle for proactively meeting future infrastructure needs.”

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