Nigerian regulators have approved plans to enable the investment of as much as $20 billion of pension-fund money in the development of the country’s infrastructure, Finance Minister Kemi Adeosun said.

The Abuja-based Securities and Exchange Commission and the Pension Commission have approved “a new instrument that will allow pension funds to invest in infrastructure bonds,” Adeosun said at a meeting of business leaders Monday in the capital, Abuja. “That’s what will drive, for example, our social housing and our roads program outside the budget.”

Before it's here, it's on the Bloomberg Terminal. LEARN MORE