President Muhammadu Buhari has expressed the willingness of his administration to mobilize additional capital from development finance institutions for the upgrade of critical infrastructure in Nigeria.
Buhari said this during a meeting with the United States, US, Treasury Secretary, Steven Mnuchin in Riyadh on Wednesday, where they had positive discussions on investments in Nigeria under the new US International Development Finance Corporation, USIDFC, which provides $60 billion for investments in developing nations.
The meeting was on the margins of the Future Investment Initiative, FII, forum and was contained in a statement signed and forwarded to NUBUNK by Buhari’s Senior Special Assistant on Media and Publicity, Garba Shehu.
Buhari said Nigeria will leverage on the U.S facility to address current challenges confronting her power sector as well as general upgrade of infrastructure.
The President thanked the U.S government for supporting Nigeria’s anti-terrorism efforts.
Buhari and Mnuchin also discussed areas of strengthening Nigeria’s ongoing collaboration with the United States on stopping terrorist financing.
Mnuchin was accompanied by Brent Macintosh, Under Secretary of the Treasury for International Affairs and Marshall Billingslea, Assistant Secretary for Terrorist Financing in the United States Treasury Department.
The Treasury Secretary used the occasion to introduce Macintosh who was recently promoted to Under Secretary for International Affairs by President Trump after the previous Under Secretary, David Malpass, was elected President of the World Bank.
The Nigerian leader congratulated Macintosh on his elevation and requested for his continued support to Nigeria especially in accessing the $60 billion infrastructure fund under the USIDFC.