Vice President Kashim Shettima, has reiterated that the current administration led by President Bola Ahmed Tinubu is the most investor-friendly administration in the history of Nigeria.
Nigeria’s involvement in the 79th United Nations General Assembly (UNGA) kicked off on a positive note, securing $320 million in investment commitments from the U.S. Chamber of Commerce during Vice President Kashim Shettima’s debut engagement.
At a U.S.-Nigeria executive business roundtable hosted by the U.S. Chamber of Commerce, Nisha Biswal, representing the American International Development Finance Corporation, announced a significant $200 million investment in mortgage refinancing for Nigeria.
Furthermore, $100 million was allocated to FCMB for the financing of small and medium enterprises (SMEs), while $20 million was earmarked for Robust International, an agri-commodity trader, to support the cashew nut processing industry in Nigeria.
Vice President Shettima, who represented President Bola Tinubu, promoted Nigeria as a prime destination for foreign investment, highlighting the nation’s openness to international business.
Stanley Nkwocha, Shettima’s spokesman, quoted Biswal affirming the U.S. Chamber of Commerce’s commitment to collaborating with Nigeria on developing sustainable economic policies.
She expressed optimism about Nigeria’s future and the potential for mutual benefits in continued cooperation.
In his address, Shettima urged potential investors to trust in Nigeria’s new economic direction.
He said, “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.”
The Nigerian delegation at the meeting included key officials such as the Minister of Communications, Innovation, and Digital Economy, Dr. ‘Bosun Tijani; the Minister of Women Affairs, Uju Kennedy-Ohanenye; the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji; the Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate; and the Minister of Industry, Trade, and Investment, Doris Nkiruka Uzoka-Anite.
Other notable attendees were the Minister of Solid Mineral Development, Dele Alake; the Minister of State for Environment, Dr. Iziaq Kunle Salako; the Minister of Defence, Alhaji Mohammed Badaru Abubakar; and the Director-General of the National Intelligence Agency, Mohammed Mohammed.
Vice President Shettima’s activities at UNGA79 include delivering President Tinubu’s national statement during the General Debate of the Assembly and engaging with several international leaders and organizations.
These include the UN Secretary-General, heads of state, the President of the World Trade Organization, and representatives from multinational corporations and foundations, such as the Bill and Melinda Gates Foundation.