The federal government has hinted of an elaborate plan to tap into the Pension Funds for massive investments in infrastructures, and science education.
In a statement in which vice president Prof. Yemi Osinbajo’s media aide, Laolu Akande, paraphrased what his principal said while fielding questions at the World Economic Forum in Davos, Switzerland on Wednesday, the federal government announced its plan to revamp the economy through massive investment in science education.
“The Vice President noted that the Buhari administration is committed to investing more in infrastructure, than in previous times by ensuring that 30% of the budget goes into capital expenditure.
“Besides, he disclosed that the government is working on how to tap into Nigeria’s huge Pension Fund to finance infrastructure in the country.
“To do this he stated that “we have to first derisk” such financing models for infrastructure… It is about investment in people, in their skills, in youths, that we have a N500b allocation in our budget last year and proposed for this year also.
“It is an investment in education and educating large numbers of people in a short time, it’s a radical thing to make that kind of serious investment in education.
“He also referred to the planned N100,000 supporting grants to students of higher institutions in Science, Technology, Engineering & Maths, STEM,” the statement read in part.