The most populous country in Africa has just created an investment company to develop its infrastructure. The Nigerian government approved on Friday the creation of this company and the construction of infrastructure in this West African country, with an initial endowment of 2.1 billion euros

The Nigerian government is working for an investment company to accelerate infrastructure development. “It is expected that over time this entity will grow to 15 billion naira (32.5 billion euros) in assets and capital,” Vice President Yemi Osinbajo's spokesperson said in a statement.
The company, called Infra-Co, will become one of the main infrastructure financing entities in Africa and will be fully dedicated to the development of Nigeria's infrastructure. It will operate through public-private partnerships and will be initially financed by the Central Bank of Nigeria, the Nigerian Sovereign Investment Authority, the authority that manages the Nigerian sovereign wealth fund, and the Africa Finance Corporation, a pan-African financial institution. Its mission will be the development and renovation of public infrastructure, such as new roads, railway or energy projects.