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.
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 “We welcome IFC’s 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 Lagosians”.
For her part, the IFC’s Country Manager for Nigeria, Eme Essien, said, “Today’s announcement is only a first step in the building of a long term strategic partnership with the largest municipality in Sub-Saharan Africa.
“Our objective is to support Lagos State’s efforts through IFC’s Cities Initiative to improve living conditions, expand and renew its infrastructure, and help reinforce Lagos’s position as an attractive investment destination, and by extension Nigeria’s position.” Read more