Nigeria’s President Bola Tinubu has approved The Infrastructure Corporation of Nigeria (InfraCorp) to be the Lead Arranger and Developer of Evergreen City, the country’s green industrial zone.
According to a statement released on Sunday by presidential spokesperson Ajuri Ngelale, this decision aligns with the President’s dedication to promoting industrial growth that addresses the country’s current and future needs.
The assignment of InfraCorp as Lead Arranger and Developer comes with specific terms of reference: selecting partners/consultants for crucial development tasks, such as project design, environmental impact assessments, feasibility studies, financial modelling, and market engagement; securing private funding for city development and related projects; collaborating with partners, development organizations, and other sources of financial and technical support; and providing updates to the Supervisory Presidential Steering Committee on Project Evergreen.
InfraCorp’s CEO, Dr. Lazarus Angbazo, boasts a top-tier Bachelor’s degree in Mathematics, a Master’s degree in Industrial Engineering and Operations Research from the University of Iowa, and a Doctorate in Corporate Finance from New York University. Previously, he served as President and Chief Executive Officer of General Electric in Nigeria, where he successfully doubled the company’s revenue.
Additionally, Dr. Angbazo held the position of CEO at General Electric Grid Solutions Africa and oversaw GE’s regional operations from 2008 to 2012 as President and CEO for West, East & Central Africa.
