President BOLA TINUBU, on Monday night, in Mecca, Saudi Arabia, advanced negotiations concerning a multi-billion dollar infrastructure finance facility from the Islamic Development Bank to fund a multi-sectoral portfolio of infrastructure projects at the federal and sub-national levels in Nigeria.
The development was the outcome of substantive investment discussions held between President TINUBU and the Vice-President (Country Programs) of the Islamic Development Bank, MANSUR MUHTAR, after the President’s return from evening prayers.
A statement by the Special Adviser to the President on Media and Publicity, AJURI NGELALE and made available to Newsmen said Nigeria is the candle of hope that will light the way for Africa. And once Africa is illuminated, the world will be a brighter place for all of humanity.
The President through his spokesperson said he is determined to create a future for the teeming youths, adding that Investments in Nigeria will be among the world’s most high-yielding.
It said there is serious deficits in port infrastructure, power infrastructure, and agro-allied facilities that will enable sustainable food security in the country which presents unrivaled opportunity for savvy investors in a market that is by far the largest on the continent.
It further said there are several sectors replete with investment opportunity for smart investors, noting that the historic essence of President TINUBU’S swift and decisive economic reforms, the Vice-President of the Islamic Development Bank said the financial world has been monitoring events in Nigeria and has concluded that Africa’s largest economy means business this time.
The Islamic Development Bank President announced the provision of $50 billion U.S. Dollars of new investment for the African continent from the Arab Coordination Group,ACG.
This was announced at the Saudi-Arab-African Economic Summit.
The President concluded by thanking the Islamic Development Bank management while pledging the unwavering commitment of his administration to win investors’ trust and confidence, just as he did in Lagos State many years ago.
Members of the Nigerian delegation present at the meeting in Mecca were: Governor BALA MOHAMMED of Bauchi State, Governor DIKKO RADA of Katsina State, Governor UMAR BAGO of Niger State, Minister of Budget & Economic Planning, Senator ATIKU BAGUDU and others.