Financial industry experts have urged banks nationwide to assist the government in funding infrastructures; in order to open up prospects for economic revival.
At the 2022 fellowship investiture of the CIBN, Dr. Ken Opara, president of the Chartered Institute of Bankers of Nigeria (CIBN), Opuiyo Oforiokuma, a finance and infrastructure specialist, and other experts advised financial institutions to come up with various ideas in a way to fund infrastructure in Nigeria.
Opara asserted that the government cannot finance infrastructure development alone and asked the banks to become involved to build the economy; adding that it is necessary to begin discussing the various options as infrastructure financiers.
According to Opara, the key to closing Nigeria’s infrastructure gap is to adopt innovative ideas and methods; for raising the money required for workable infrastructure projects.
In order to finance the nation’s infrastructure, he recommended financial institutions to participate in equity funds and purchase infrastructure bonds.