Fashola to PENCOM: invest N5tr pension fund in real sector

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Minister of Power, Works and Housing Babatunde Fashola has urged the National Pension Commission (PenCom) and other operators to invest the over N5 trillion pension fund in construction of infrastructure.

He mentioned such infrastructure as roads, housing, Fourth Mainland Bridge, coastal road linking several coastal states from Lagos to Bayelsa and the new seaports in Lekki and Badagry.

The minister spoke in a keynote speech at the Nigerian Pension Industry Strategy Implementation Roadmap Retreat organised by the National Pension Commission (PenCom) and pension operators at the weekend in Abuja.

His paper was titled: “Overcoming the Challenges and Managing the Risks and Constraints that Inhibit the Investment of Private Capital and Funds in Nigeria’s Infrastructure Landscape to Make a Visible Economic Impact”.

He also recommended investment of the fund in refineries, such as Dangote’s, Ajaokuta Steel, petrochemical plants, resuscitation of textile mills; prisons to strengthen justice system and decongest prisons; hostels for universities, power plants for universities, especially those with teaching hospitals, health care and others.

source: http://thenationonlineng.net/fashola-to-pencom-invest-n5tr-pension-fund-in-real-sector/

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