September 24, (THEWILL) – The United States Chamber of Commerce has announced a $320 million investment to support Nigeria’s mortgage refinancing, small and medium-sized enterprises (SMEs), and cashew processing industries.
A press statement by Stanley Nkwocha, Senior Special Assistant to the Vice President on Media and Communications, said Vice-President Kashim Shettima secured the investments commitment on Monday, at a US-Nigeria Executive Business Roundtable, hosted by the US Chamber of Commerce.
Nisha Biswal of the American International Development Finance Corporation announced that with a portfolio of $1 billion, it was investing $200 million in mortgage refinancing in Nigeria.
Additionally, $100m was approved for FCMB to finance small and medium enterprises (SMEs), while $20m was for Robust International, a midscale agri-commodity trader in the country, for processing cashew nuts in the country.
Biswal said the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.
Appreciating the group’s gesture, Vice President Shettima, who is leading the federal government delegation at this year’s UNGA, reiterated President Bola Tinubu’s commitment to investor-friendly policies.
“I urge you to give Nigeria the benefit of the doubt. The current administration, led by President Bola Ahmed Tinubu, is the most investor-friendly administration in Nigeria’s history. When fuel subsidy was an albatross around Nigeria’s neck, President Tinubu, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets”, he said.
Meanwhile, Vice President Shettima has met with other members of Nigeria’s delegation to strategise on Nigeria’s engagements in New York.
Earlier on Monday, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, led other members to brief the Vice President on the activities and itinerary lined up for him in New York.
Tuggar outlined the programmes and activities, saying the Vice President is expected to deliver President Bola Tinubu’s national statement at the General Debate of the UN General Assembly.
Apart from President Tinubu’s national statement delivery, Vice President Kashim Shettima is also expected to meet with the Secretary General of the United Nations.
Aside from other heads of state lined up to meet with the Vice President, there are also scheduled meetings with the heads of the African, Caribbean and Pacific States; the President of the World Trade Organisation (WTO), Dr Ngozi Okonjo-Iweala; Director General of the International Atomic Agency, and multinational companies, among others.
Also on the itinerary of the Vice President is a meeting with the Bill and Melinda Gates Foundation and a host of other international partners.
Top Nigerian officials present at the meeting included the Minister of Communications, Innovation & Digital Economy, Dr ‘Bosun Tijani; Minister of Women Affairs, Uju Kennedy-Ohanenye; Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji; Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, and Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite.
Others are Minister of Solid Mineral Development, Dele Alake; Minister of State for Environment, Dr Iziaq Kunle Salako; Minister of Defence, Alhaji Mohammed Badaru Abubakar and Director-General of the National Intelligence Agency, Mohammed Mohammed, among many others.
