The Minister of Industry, Trade and Investment- Dr Doris Uzoka-Anite, had cheerfully shared the details of a $3.5 billion Afreximbank’s Facility for revamping the textile industry in Nigeria and the Compressed Natural Gas (CNG) Value-Chain.
The Minister took to her X handle: “Our recent visit to The Bahamas is a very exciting one for all Nigerians. I am pleased to report that a groundbreaking $3.5 billion MOU agreement between the @TradeInvestNG and @afreximbank was signed at the 31st Afreximbank Annual Meeting in Nassau.
This landmark agreement is a major step towards fulfilling President Bola Ahmed Tinubu’s vision for a diversified and prosperous Nigerian economy.
Here’s what this means for us:
1. $3 Billion Industrialization Financing Facility: Accelerating Nigeria’s journey to becoming a fully industrialized nation.
2. State-Wide Investment Vehicles/Projects: Attracting more investments to our states, fostering regional development.
3. Global Country Guarantee: Boosting investor confidence in Nigeria by providing guarantees for investments.
4. Revamping the Textile and Apparel Industry:
In partnership with Arise Integrated Industrial Platforms, aiming to create up to $3.3 billion in project capital expenditure and generate jobs for our youth.
5. Developing the CNG Value-Chain: Enhancing our automotive and transport sectors with a focus on sustainability.
This collaboration with Afreximbank is set to transform our industrial landscape, create jobs, and drive sustainable economic growth. Together, we are paving the way for a brighter and more prosperous Nigeria! “
What happen to 50k grant..?
” No transparency in 50k grant, why do u want us to entrust you on this…national cake?