- Shettima Reaffirms Tinubu’s Investor-Friendly Policies
By kawaekwune Jeffrey
The United States Chamber of Commerce has committed $320 million to support mortgage financing and Small and Medium-sized Enterprises (SMEs) in Nigeria.
This commitment was made during a high-level engagement at the 79th United Nations General Assembly (UNGA) session in New York on September 23, 2024.
Nisha Biswal, a representative of the American International Development Finance Corporation, disclosed that $200 million will be invested in mortgage refinancing in Nigeria, while $100 million will go to FCMB for SMEs with a focus on women’s empowerment.
Vice President Kashim Shettima, who led the Nigerian delegation to the ongoing UNGA, expressed gratitude for the financial commitment.
He reassured the business community of the Nigerian government’s dedication to fostering investor-friendly policies.
Shettima stated: “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 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.”
Additionally, the US Chamber of Commerce revealed an allocated commitment of $20 million to Robust International, a firm focused on cashew nut processing in Nigeria.
