Kwara State Infrastructure Fund excites Investment One Financial Services
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Fund
By Chinyere Joel-Nwokeoma
Lagos, Sept. 27, 2016 (NAN) Investment One Financial Services on Tuesday expressed excitement to be a part of the success story of the Kwara State Infrastructure Fund (IF-K) launched on Sept. 26.
A statement issued by the company in Lagos described the the product as and made available to the News Agency (NAN) described the project as a culmination of several years of hard work, creative thinking and resilience.
The project is being spearheaded through the Kwara State Public-Private Partnership Bureau (KP3).
Mr Nicholas Nyamali, Investment One Financial Services Group Managing Director, was quoted by the statement as saying that the company was proud to have been part of the process from inception till implementation.
“We are very proud to have been a part of this process from inception till implementation in our role as Financial Advisers and Trustees to the Kwara State Government,” Nyamali said.
He said that innovative solutions were required to address the country’s infrastructure deficits at a time where government revenues at all levels were dwindling.
Nyamali said that Nigeria’s annual infrastructure financing gap estimated at 70 billion dollars could only be addressed through innovative initiatives.
“From economic infrastructure such as transportation, roads and power, to social infrastructure such as hospitals, water and schools, there are severe shortages to be addressed by governments.
All these requirements are in the midst of severe financial shortage. The challenge facing government at all levels is how to finance these capital projects with dwindling revenues,” he said.
Nyamali described the infrastructure fund as a novel way to fund infrastructure development to give comfort to all relevant parties such as contractors, providers of capital and the people of Kwara State.
He said that the new infrastructure fund was a core element of the administration’s plan to get Kwara working optimally based on today’s economic realities.
“The IF-K creates a permanent solution to the issue of infrastructure funding which is critical to all developmental plans of this Government.
“This infrastructure fund brings to an end the era where capital projects will be left uncompleted due to lack of funding, it will also attract external and Public Private Partnership funds,” Nyamali added.
He said that the multiplier effect of the Infrastructure fund programme could not be over emphasised as it would be used to fund essential public assets such as roads, hospitals and utilities, among others.
Nyamali said that the fund would not only provide jobs for the people, but would also provide an enabling environment for growth and expansion of the state’s economy.
Mr Ademola Aofolaju, the Managing Director, Capital Management Division, Investment One Financial Services, was also quoted as saying that the company would ensure transparency, success and optimal administration of the infrastructure fund.
“This is a role we have played before in our long standing partnership with the state over the years and we give assurances of our continued support as we continue to deliver on our mandate”, Aofolaju said.
The company congratulated the governor, the government, the Kwara State Public-Private Partnership Bureau (KP3) and the people of Kwara State on the launch, signing and commencement of this laudable scheme.
NAN reports that Investment One Financial Services Ltd is a boutique investment and financial services company with a comprehensive service range covering financial advisory, trust, securities trading and portfolio management services.
Investment One has played advisory roles in various capital raising transactions with a total value exceeding N100 billion since its establishment in 2008. (NAN)
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