Nigeria makes $30bn export financing deal with investment partners

By professo

Nigeria’s federal government has agreed on a US$30bn export financing deal with investment partners, Africa news reported.

The partners include the African Export-Import Bank, Africa Finance Corp., the African Development Bank, the Bank of Industry, and the Nigerian Sovereign Investment Authority.

The project has been dubbed “Made in Nigeria for Exports (MINE)”, and was signed by Professor Benedict Oramah, the President of the Africa Export and Import Bank, Kayode Pitan, the Managing Director of Bank of Industry, and Uche Orji, the Managing Director of Nigerian Sovereign Investment Authority.

The project focuses on three regions, or Special Economic Zones, of Nigeria – Enyimba Economic City, Funtua Cotton Cluster, and Lekki Model Industrial Park, according to the local paper named Leadership.


“Under my direct supervision, the Minister of Industry, Trade and Investment is implementing Project MINE (Made in Nigeria for Exports) as a presidential special priority intervention using Special Economic Zones to achieve the objectives of boosting manufacturing’s share of GDP to 20%, generating $30bn in annual export earnings, and creating 1.5 million new jobs all by 2025,” stated Nigeria’s President, Muhammadu Buhari.

“In order to achieve these ambitious objectives, we are implementing a comprehensive plan including, but not limited to, the following: we have set up the Nigeria SEZ Investment Company Limited as a vehicle for participating in Public Private Partnerships involving federal and state governments and local and foreign private investors.”

“This company will develop new Special Economic Zones all over the country, offering advanced infrastructure and facilities at competitive costs.”


Featured Articles

Top 10 largest revenue generating family businesses in MENAT

From the UAE to Turkey, these family firms are the largest by revenue in MENAT and cover everything from energy to entertainment

Top 10 metaverse projects in the UAE, including world firsts

As Accenture predicts the metaverse will fuel a US$1 trilion commerce opportunity by 2025, we round up 10 pioneering metaverse projects in the UAE

PwC’s survey shows Middle East CEOs remain upbeat on growth

CEOs in the Middle East are far more optimistic about regional growth than those in North America and Europe, according to PwC’s annual survey

Opinion: “Why we must tackle the digital skills crisis"

Leadership & Strategy

5 Mins With: Kathryn Kaminsky Vice Chair Trust Solutions PwC

Leadership & Strategy

Survey: The Future of Cloud Security in the Middle East