The Kwara State Government has announced that it planned to launch its Infrastructure Development Fund ‘InfraFund Kwara’ (IF-K) in the energy sector in the fourth quarter of 2016 with an initial investment of N4.2 billion.
Governor Abdulfatah Ahmed made this disclosure during an interactive session with community leaders in his office last Friday.
He said IF-K has been codified into the Kwara State Public Private Partnership Law, which he assented to in 2015.
According to him, the IF-K project is a result of the Kwara Infrastructure Investment and Finance strategy, which he approved following an infrastructure assessment that was done in 2014.
He said the outcome of the assessment showed an estimated N225 billion deficit value of infrastructure across the 16 councils and spanning all sectors, which required both government and private investment, in order to boost the state’s productivity and wealth creation.
The governor added that the main objectives of the programme are to provide a guided, systemic and outward facing framework for continuous and consistent infrastructure development, optimally leverage private sector or resources for infrastructure development and maximize the state’s resource allocation policies.