Nigeria's President Bola Tinubu has given his approval for the appointment of The Infrastructure Corporation of Nigeria (InfraCorp) as the Lead Arranger and Developer of Evergreen City, Nigeria’s green industrial zone.
According to a release issued on Sunday by presidential spokesperson Ajuri Ngelale, this decision aligns with the President’s commitment to ensuring industrial development that meets the demands of the present and the future.
The appointment of InfraCorp as Lead Arranger and Developer comes with the following terms of reference:
Selection of partners/consultants to undertake critical development activities, including project design, environmental impact assessments, feasibility studies, financial modeling, and market engagement.
Raising private funding for the development of the city and constituent projects.
Coordinating with partners, development institutions, and other providers of capital and technical assistance.
Reporting to the Supervisory Presidential Steering Committee on Project Evergreen.
Dr. Lazarus Angbazo, the CEO of InfraCorp, holds a first-class Bachelor’s degree in Mathematics; a Master’s degree in Industrial Engineering and Operations Research from the University of Iowa, and a Doctorate degree in Corporate Finance from the New York University. He has a background as the President and Chief Executive Officer of General Electric in Nigeria, where he doubled GE’s revenue, and has also held other significant roles within GE.
Additionally, President Tinubu has approved the establishment of a 15-man Presidential Steering Committee on Project Evergreen, the supervisory technical working group, to oversee the pioneering endeavor. The committee membership includes prominent individuals from various sectors to ensure a comprehensive approach to the project.
The President expects absolute dedication and professionalism to drive this critical project in order to make Nigeria the leading manufacturing hub in Africa for renewable energy technologies, green solutions, and climate-adaptation technologies for the maximum benefit of Nigerians and Africans at large.
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