By Nkiruka Nnorom
Stanbic IBTC Asset Management Limited has urged corporate organisations and project developers, among others, to explore its recently launched N100 billion infrastructure fund, saying that the establishment of the Fund was borne out of the need to bring to the fore the many opportunities for investments beyond the traditional investment propositions.
Dolu Olugbenjo, Chief Investment Officer, Stanbic IBTC Infrastructure Fund, stated this yesterday at a webinar, saying that the Fund would help Nigeria to close its infrastructure gap by linking investors with long-term capital while enabling them to achieve their investment goals.
He said: “Nigeria, like most African countries, struggles with infrastructural deficits and for a nation striving to achieve development, closing this gap requires around $3 trillion investment over the next 30 years. This highlights the need for urgent and concerted efforts at solving this problem. In addition, the current challenges plaguing government’s earnings have restrained its efforts at solving some of these problems, thus creating a further need for the involvement of financial organisations.
“The Stanbic IBTC Infrastructure Fund is tailored at addressing these challenges by providing infrastructural investment in critical sectors of the economy such as energy, telecommunications, healthcare, water treatment, waste management, communications, and transportation, among others.”