Nigeria has secured a $320 million investment from the US Chamber of commerce to support mortgage financing, small and medium enterprises (SMEs), and other key sectors.
This was announced at an Executive Business Roundtable between the US and Nigeria at the 79th United Nations General Assembly.
A representative of the US International Development Finance Corporation (DFC), revealed that $200 million would be allocated to mortgage refinancing in Nigeria
A sum of $20 million was also approved for a firm, Robust International, for the processing of cashew nuts in Nigeria.
$100 million was earmarked for a Nigerian Bank, First City Monument Bank (FCMB) to finance SMEs in Nigeria, with a particular interest in women empowerment.
Nigerian Vice President, Kashim Shettima, who led the delegation, appreciated the gesture and reiterated President Bola Tinubu’s commitment to investor friendly policies.
The American Chamber promised that the US remained committed to working with Nigeria in the development of sustainable economic policies.
Report by Safeyah Mohammed