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IFC to Expand Investment in Nigeria to $2bn

International Finance Corp Plans 25% Increase to its Investments in Nigeria

The World Bank’s private-lending arm, the IFC will increase its investment in nigeria to $2bn by 2014, so says the country manager Solomon Adegbie-Quaynor.

Mr Adegbie-Quaynor said…

We are partnering with the Nigerian Sovereign Investment Authority and also looking at institutions to work with for activities in banks, power, gas, transport and agriculture.

Power is considered an important area that requires investment from the IFC as it is identified as largest constraint to private-sector growth

It is believed that Nigeria requires $10bn investment per year to keep up with the growth of its economy

Read the full article at Bloomberg.com here