Business a.m
Coronation Group has called for greater investment in infrastructure through the creation of more infrastructure funds, as a means of boosting the economy. This call comes on the heels of the group’s maiden Infrastructure Report, which was launched in Lagos, recently.
The Infrastructure Report, produced through extensive research, explores the topic of infrastructure financing in depth. It highlights the growing trend of private sector involvement in infrastructure projects, both in Nigeria and globally.
According to Coronation Group, given the limited availability of public funds, private sector investment is essential for filling the funding gap and unlocking the potential of infrastructure projects. These projects can drive innovation, create jobs, and stimulate economic activity, with wide-ranging benefits for society as a whole.
The report explores the changing landscape of infrastructure development, where private sector investments are becoming increasingly common and playing a larger role. It stresses the essential nature of private sector involvement in infrastructure projects and the significant impact that these investments can have on the broader economy. The report further underlines how infrastructure investments can help to transform societies, making them more prosperous and equitable.
Aigbovbioise Aig-Imoukhuede, managing director of Coronation Asset Management, explained that the Coronation Infrastructure Report is an important tool for promoting dialogue on infrastructure financing across Africa.
Aig-Imoukhuede emphasised the importance of infrastructure in driving economic growth and improving the lives of people across Africa. He noted that the report shines a light on the challenges and opportunities in infrastructure financing, which is a crucial step towards overcoming these challenges and harnessing the full potential of the sector.
According to Aig-Imoukhuede, the report uses rigorous analysis to delve into the complexities of infrastructure development, shedding light on the critical issues that must be addressed.
“From ageing infrastructure to emerging technologies, the report navigates through a spectrum of sectors, offering practical solutions and best practices to propel progress forward.
In recognizing the transformative power of private sector financing for infrastructural development, the report highlights the importance of fostering an enabling environment that encourages private-sector participation” he said.
On his part, Guy Czartoryski, the head of research at Coronation, said the Infrastructure Report was developed with a strong commitment to providing comprehensive insights into the infrastructure investment landscape in Africa.
Czartoryski said that by analysing the complex dynamics of infrastructure investments in detail, the report provides a wealth of knowledge and insight for those working in the sector. He described the report as a beacon of knowledge that guides stakeholders through the intricate and often confusing world of infrastructure financing.
Czartoryski urged the federal government of Nigeria to provide incentives that would encourage more private sector players to participate in infrastructure financing. He suggested that improved education on Public-Private Infrastructure Law would help to increase understanding and awareness of the opportunities available in the sector. He also called for the government to match the private sector’s efforts in financial management and diversification of investment, to ensure that the country’s infrastructure needs are met.
