Nigeria kicked off its participation at the 79th United Nations General Assembly (UNGA) with a major win, securing a $320 million investment commitment from the U.S. Chamber of Commerce.
This significant development took place during the US-Nigeria Executive Business Roundtable, which featured Vice President Kashim Shettima and top business leaders.
The roundtable included high-ranking Nigerian officials from key sectors like innovation, technology, industry, and health. These officials aimed to attract investment and boost Nigeria’s economic growth.
The U.S. Chamber’s Nisha Biswal, representing the American International Development Finance Corporation, announced a $200 million investment in mortgage refinancing for Nigeria, further strengthening the country’s housing sector Additionally, $100 million was allocated to First City Monument Bank (FCMB) to finance small and medium enterprises (SMEs), while $20 million was earmarked for Robust International to boost cashew nut processing in Nigeria.
Vice President Shettima highlighted Nigeria’s potential for foreign investment, emphasizing the current administration’s investor-friendly policies. He cited recent reforms, such as fuel subsidy removal and foreign exchange market unification, as evidence of the government’s commitment to economic growth. Nisha Biswal from the U.S. Chamber of Commerce reaffirmed the organization’s support for Nigeria’s sustainable development and emphasized the importance of continued collaboration.
During UNGA79, Vice President Shettima was to interact with international leaders and organizations, including the UN Secretary-General and major multinational entities like the Bill and Melinda Gates Foundation, enhancing Nigeria’s role as a key player on the global stage.
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