The United States Chamber of Commerce has announced plans to invest approximately $320 million in mortgage refinancing and small and medium enterprises in Nigeria.
This commitment was highlighted by Nisha Biswal, the Deputy Chief Executive Officer of the U.S. International Development Finance Corporation, during a U.S.-Nigeria Executive Business Roundtable held in conjunction with the 79th Session of the United Nations.
“Also the sum of 100 million dollars 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 dollars has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria, ” Biswal said.
In a statement released by Vice-President Kashim Shettima’s spokesperson, Stanley Nkwocha, detailed that the investment portfolio includes $200 million specifically allocated for mortgage refinancing in Nigeria, as part of a broader $1 billion commitment. She emphasized the Chamber’s dedication to collaborating with Nigeria on sustainable economic development.
Vice-President Shettima, who is leading Nigeria’s delegation at the United Nations General Assembly, reaffirmed President Bola Tinubu’s commitment to creating investor-friendly policies to enhance economic growth and attract foreign investment.
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“I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Tinubu is the most investor-friendly administration in the history of Nigeria.
”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,” Shettima explained.
Earlier, the Minister of Foreign Affairs, Amb. Yusuf Tuggar, briefed Vice-President Kashim Shettima on the various activities and engagements planned for him during his stay in New York, as part of the ongoing 79th Session of the United Nations General Assembly, UNGA.
Tuggar outlined that the Vice-President will deliver President Bola Tinubu’s national statement at the General Debate of the UNGA. Additionally, Shettima is scheduled to meet with the UN Secretary-General, along with several heads of state and key officials, including the head of the African, Caribbean, and Pacific States.
Shettima’s itinerary also includes meetings with prominent international figures such as Dr. Ngozi Okonjo-Iweala, President of the World Trade Organization and the Director-General of the International Atomic Energy Agency. Moreover, he is set to engage with multinational companies and representatives from the Bill and Melinda Gates Foundation, as well as other international partners.
These engagements are expected to advance Nigeria’s economic and diplomatic interests on the global stage.
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