The National Economic Council is considering the possibility of investing N2trn from pension funds to finance critical infrastructure projects like roads, rail and electricity. This was an outcome of yesterday’s NEC meeting chaired by Vice President Yemi Osinbajo.
Governor Atiku Bagudu of Kebbi State, who addressed journalists after the meeting, recalled that the Kaduna State Governor Nasir El-Rufai-led committee was constituted by the NEC on November 21, 2019, to consider how a portion of the pension funds could be invested through the Nigerian Sovereign Investment Authority.
Bagudu said 20 per cent of the pension funds could be used for infrastructure development as provided for by the Pensions Reform Act.
He said an interim report of the sub-committee had identified critical development areas where the fund could be useful.
