Africa's most populous country has just created an investment company to develop its infrastructure. The Nigerian government on Friday approved 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 on an investment company to accelerate infrastructure development. " It is envisaged that over time this entity will grow to the tune of 15 billion naira (32.5 billion euros) in assets and capital ," Vice President Yemi Osinbajo's spokesman said in a statement.
The company, dubbed Infra-Co, will become one of Africa's leading infrastructure finance entities and will be fully dedicated to Nigeria's infrastructure development. It will operate through public-private partnerships and will initially be 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.