The 79th United Nations General Assembly has yielded a significant breakthrough for Nigeria, as the US Chamber of Commerce has pledged $320 million in investments.
This was contained in a statement issued on Monday by the media aide of Vice President Kashim Shettima, Stanley Nkwocha, about events at the US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce on the sidelines of the 79th Session of the ongoing United Nations General Assembly.
The statement noted that at the US-Nigeria Executive Business Roundtable, Nisha Biswal of the American International Development Finance Corporation announced a $200 million investment in mortgage refinancing in Nigeria.
Additionally, $100 million has been earmarked for FCMB to finance Small and Medium-sized Enterprises (SMEs), with a focus on women empowerment. A further $20 million has been approved for Robust International to process cashew nuts in Nigeria.
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The statement read, “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.
“The sum of $100 million has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women empowerment.
“The US Chamber of Commerce also announced that $20 million has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria.
Biswal said the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.”
Vice President Kashim Shettima, representing President Tinubu at the UNGA, expressed gratitude for the investment and reiterated the administration’s dedication 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,” Shettima stated
This investment boost is expected to stimulate economic growth and development in Nigeria. The US Chamber of Commerce’s commitment demonstrates confidence in Nigeria’s potential and President Tinubu’s economic vision.
Key Investment Highlights:
– $200 million in mortgage refinancing
– $100 million for FCMB to finance SMEs, focusing on women empowerment
– $20 million for Robust International’s cashew nut processing
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