Vice-President Kashim Shettima says the United States Chamber of Commerce has committed $320 million towards mortgage refinancing and funding of small and medium enterprises (SMEs) in Nigeria.
Shettima announced the planned investments via his X page on Tuesday.
The vice-president, currently in the United States for the 79th session of the ongoing United Nations General Assembly (UNGA), said the commitments were made during a US-Nigeria executive business roundtable hosted by the US Chamber of Commerce.
He said Nisha Biswal, deputy chief executive officer (CEO) at the Development Finance Corporation (DFC), a firm with a portfolio of $1 billion, pledged a $200 million investment in mortgage refinancing in Nigeria.
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Also, Shettima said $100 million has been earmarked for First City Monument Bank (FCMB) to finance SMEs in Nigeria, with particular interest in women’s empowerment.
The vice-president said the US Chamber of Commerce also approved $20 million for a firm, Robust International, to process cashew nuts in Nigeria.
While he appreciated the group’s gesture, Shettima urged the American chamber to give Nigeria the benefit of the doubt, assuring the investors of President Bola Tinubu’s dedication to making Nigeria investor-friendly.
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“The current administration led by President Tinubu is the most investor-friendly administration in the history of Nigeria,” he said.
“When fuel subsidy was an albatross around Nigeria’s neck, the president, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets.”
On her part, Biswal said the American chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.
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