SUPPORT: OGUN STATE, THREE OTHERS TO BENEFIT FROM N500 BILLION AFREXIMBANK FUND
Read Time:1 Minute, 35 Second
A credit package worth N500 billion is being arranged by the African Export-Import Bank and Access Bank to help Ogun State.
Along with three other states in the nation, the state will receive benefits from the fund.
Governor Dapo Abiodun revealed this in a speech at the conclusion of the Afreximbank-organised intra-African trade fair in Cairo, Egypt.
Abiodun stated in a statement released on Saturday by his Chief Press Secretary, Mr. Lekan Adeniran, that the state government had already signed the deal and that the fund will help finance and expedite the development of infrastructure in the state.
He said, “The highlight of our participation at the IATF was the signing of a significant framework agreement with Afreximbank and Access Bank Limited.
“This agreement grants us access to a substantial amount of N500 billion in conjunction with three other Nigerian states.
“This financial support will play a pivotal role in financing the creation of trade and trade-enabling infrastructure.
“Its purpose is to accelerate economic diversification through infrastructure development, in line with the Africa Sub-Sovereign Network Initiative.”
Abiodun also revealed that the state team met with Lazarus Chakwera, the president of Malawi, and Emmerson Mnangagwa, the president of Zimbabwe, to discuss matters of mutual benefit.
The framework for the formation of a partnership between the two administrations was created, the governor added, noting that talks with the president of Zimbabwe focused mostly on cooperation in the agriculture sector.
The governor stated that the goal of their conversations with President Chakwera was to develop a socioeconomic partnership that would benefit both parties.
“We firmly believe that this collaboration will contribute significantly to the growth and development of our state, paving the way for a brighter economic future.
“By harnessing the potential of the agricultural sector and fostering strategic partnerships, we are confident that we can make significant advancements towards achieving our goals,” he added.
Happy
0 %
Sad
0 %
Excited
0 %
Sleepy
0 %
Angry
0 %
Surprise
0 %
0
0