JUST IN: President Tinubu Appoints InfraCorp as Lead Developer for Evergreen City

In a major step towards sustainable industrial development, President Bola Tinubu has announced the appointment of The Infrastructure Corporation of Nigeria (InfraCorp) as the Lead Arranger and Developer for Evergreen City, Nigeria’s upcoming green industrial zone. This initiative reflects the administration’s commitment to fostering industrial growth that aligns with both present and future environmental standards.

InfraCorp’s role will include selecting partners and consultants for crucial development activities such as project design, environmental impact assessments, feasibility studies, financial modeling, and market engagement. The corporation will also be responsible for raising private funds and coordinating with various partners and development institutions. Dr. Lazarus Angbazo, CEO of InfraCorp, will lead these efforts. Dr. Angbazo brings a wealth of experience, holding advanced degrees in Mathematics, Industrial Engineering, Operations Research, and Corporate Finance. His previous roles include significant leadership positions at General Electric, where he notably increased revenue and led regional operations across Africa.

Additionally, President Tinubu has established the Presidential Steering Committee on Project Evergreen, a technical working group to oversee this pioneering endeavor. The committee is chaired by the Special Presidential Envoy on Climate Action and includes key figures from various sectors, such as Lolade Abiola from UN SE4ALL, Salisu Dahiru from the Nigeria Climate Change Council, Aminu Umar-Sadiq from the Nigeria Sovereign Investment Authority, and several other notable members.

The President has emphasized the need for absolute dedication and professionalism from all involved, with the goal of positioning Nigeria as Africa’s leading hub for renewable energy technologies, green solutions, and climate-adaptation technologies. This project is seen as a critical component in driving Nigeria’s industrial future while ensuring environmental sustainability for the benefit of both Nigerians and the broader African continent.

Chief Ajuri Ngelale

Special Adviser to the President (Media & Publicity)

May 19, 2024