Naija dey face big challenge when it come to infrastructure development, and dey need plenty money to fix am. The Director-General of the Securities and Exchange Commission (SEC), don talk say Nigeria need about $50 billion to close de infrastructure deficit.
This statement come at a time when Nigerian Breweries Plc just get approval from SEC to extend their rights issue worth N599.1 billion. The rights issue, which start on September 2, was supposed to end on October 11, but now dey extend am till October 18, 2024, because of public holidays wey disrupt de initial acceptance period.
The Legal Director/Company Secretary of Nigerian Breweries, Uaboi Agbebaku, explain say de extension dey to give shareholders enough time to subscribe to their rights. He say, “We dey extend de acceptance period to give our shareholders ample opportunity to participate, considering de normal working days wey public holidays affect.”
But beyond dis rights issue, de bigger picture be de huge infrastructure gap wey Nigeria dey face. De SEC boss emphasize say de country need significant investment to improve roads, bridges, and other critical infrastructure.
