Nigeria preparing to fundraise $50 million biofuel equity investment vehicle

February 8, 2017 |

In Nigeria, the country’s central bank announced it is setting up a $50 billion equity investment fund to kickstart commercial biofuel production in the country, funded entirely by state-owned companies and the various domestic investment banks along with support from various multilateral agencies like the United Nations Environmental Program and the United Nations Development Program. The funding mechanism is meant to support the draft biofuels policy that will soon be implemented after nearly a decade of development and false starts.

Category: Fuels

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