Overview of the PIDF

On the 12th of March 2018, His Excellency, former President Muhammadu Buhari (GCFR) (“President Buhari”) through correspondence received from the Office of the Chief of Staff to the President (“OCoS”) with reference number SH/COS/175/A/240, approved the establishment of the PIDF, with the primary objective of accelerating the execution of strategic infrastructure projects, essential to the rapid growth and modernization of Nigeria’s economy. NSIA was mandated to act as the Infrastructure/Investment Manager for the PIDF, to ensure the efficient allocation and utilization of funds, as well as the timely completion of the PIDF projects. The projects under PIDF (the “PIDF Projects”) included: (i) the Lagos-Ibadan Expressway (“LIE”), (ii) the Second Niger Bridge (“2NB”) and (iii) the AbujaKaduna-Zaria-Kano Road (“AKR”), hereinafter referred to as the “Ongoing Projects”.