The International Finance Corporation (IFC) has announced its readiness to provide advisory services to Lagos State government to enhance its infrastructure development and strengthen long-term financial sustainability.
The advisory services to be offered by IFC will be designed to improve procurement for key transport projects and support project development in other areas including power, transport, municipal waste, health, education and energy efficiency.
Eme Essien IFC country director
This is even as the IFC will be advising the government on strategies and policies for electric buses and ride-hailing services while assisting it to improve on revenue mobilisation strategies.
Lagos government and the IFC announced details of this agreement Thursday, through a memorandum of understanding (MoU).
Governor Akinwunmi Ambode of Lagos, while speaking on the initiative said โWe welcome IFCโs support and are confident that signing this memorandum will translate into viable infrastructure projects, expertise building and better access to financing for the benefit of all Lagosiansโ.
For her part, the IFCโs Country Manager for Nigeria, Eme Essien, said, โTodayโs announcement is only a first step in the building of a long term strategic partnership with the largest municipality in Sub-Saharan Africa.
โOur objective is to support Lagos Stateโs efforts through IFCโs Cities Initiative to improve living conditions, expand and renew its infrastructure, and help reinforce Lagosโs position as an attractive investment destination, and by extension Nigeriaโs position.โ Read more