Connect with us

National News

79th UNGA: US Chamber Of Commerce Commits $320m To Mortgage Financing, SMEs, Others In Nigeria

Published

on

79th UNGA: US Chamber Of Commerce Commits $320m To Mortgage Financing, SMEs, Others In Nigeria

*** As VP Shettima assures of President Tinubu’s dedication to investor-friendly nation

By: Our Reporter

Nigeria’s participation at the 79th Session of the ongoing United Nations General Assembly recorded the first success on Monday, as the President Bola Ahmed Tinubu administration’s commitment towards mortgage refinancing and women empowerment received the support of the United States Chamber of Commerce with a commitment of about $320 million.

This is just as Vice President Kashim Shettima , who is leading the federal government delegation and representing President Tinubu at this year’s UNGA, has met with other members of Nigeria’s delegation to strategise on Nigeria’s engagements in New York.

At a US-Nigeria Executive Business Roundtable hosted by the US Chamber of Commerce, Nisha Biswal of the American International Development Finance Corporation announced that with a portfolio of $1 billion, it was investing $200 million in mortgage refinancing in Nigeria.

The sum of $100 million has been earmarked for FCMB to finance SMEs in Nigeria, with particular interest in women empowerment.

The US Chamber of Commerce also announced that $20 million has been approved for a firm, Robust International, for processing of cashew nuts in Nigeria.

Biswal said the American Chamber remained committed to working with Nigerians in the development and pursuit of sustainable economic policies.

Appreciating the gesture of the group, Vice President Shettima reiterated President Tinubu’s commitment to investor-friendly policies.

He stated: “I urge you to give Nigeria the benefit of the doubt. The current administration led by President Bola Ahmed Tinubu is the most investor-friendly administration in the history of Nigeria. When fuel subsidy was an albatross around Nigeria’s neck, President Tinubu, from day one, hit the ground running by withdrawing the fuel subsidy and unifying the multiple opaque foreign exchange markets.”

Earlier on Monday, Nigeria’s Minister of Foreign Affairs, Ambassador Yusuf Tuggar, led other members to brief the Vice President on the activities and itinerary lined up for him in New York.

Tuggar outlined the programmes and activities, saying the Vice President is expected to deliver President Bola Ahmed Tinubu’s national statement at the General Debate of the UN General Assembly.

Apart from President Tinubu’s national statement delivery, Vice President Kashim Shettima is also expected to meet with the Secretary General of the United Nations.

Aside other heads of states lined up to meet with the Vice President, there are also scheduled meetings with the head of the African, Caribbean and Pacific States; the President of the World Trade Organization (WTO), Dr. Ngozi Okonjo-Iweala; Director General of the International Atomic Agency, and multinational companies, among others.

Also on the itinerary of the Vice President is a meeting with the Bill and Melinda Gates Foundation and a host of other international partners.

Top Nigerian officials present at the meeting included the Minister of Communications, Innovation & Digital Economy, Dr. ‘Bosun Tijani; Minister of Women Affairs, Uju Kennedy-Ohanenye; Minister of Innovation, Science and Technology, Chief Uche Geoffrey Nnaji; Coordinating Minister of Health and Social Welfare, Professor Muhammad Ali Pate, and Minister of Industry, Trade and Investment, Doris Nkiruka Uzoka-Anite.

Others are Minister of Solid Mineral Development, Dele Alake; Minister of State for Environment, Dr. Iziaq Kunle Salako; Minister of Defence, Alhaji Mohammed Badaru Abubakar and Director-General of the National Intelligence Agency, Mohammed Mohammed, among many others.

79th UNGA: US Chamber Of Commerce Commits $320m To Mortgage Financing, SMEs, Others In Nigeria

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

Easter: Church Targets Spiritual Renewal, Community Impact with Power-Packed Programme

Published

on

Easter: Church Targets Spiritual Renewal, Community Impact with Power-Packed Programme

By: Michael Mike

As Christians prepare for the Easter season, the City of Truth and Grace Assembly has positioned its 2026 celebration as more than a routine observance, unveiling a spiritually driven programme aimed at fostering personal transformation and strengthening community bonds.

Themed “The Power of Resurrection,” the church said the initiative is designed to rekindle faith, inspire hope, and provide a platform for collective spiritual engagement at a time when many people are seeking renewal amid prevailing social and economic pressures.

The programme, to be hosted by Dipo Fisho, will begin on Good Friday with a family-focused prayer session which organisers describe as a strategic gathering to address both personal and societal challenges through intercession.

According to the church, the prayer session will emphasise unity, healing, and divine direction for families and the wider community.

The Easter activities will culminate on Easter Sunday with a special worship service centred on the message of resurrection, renewal, and spiritual rebirth.

Organisers explained that the programme goes beyond worship services, incorporating moments of fellowship such as a love feast aimed at strengthening relationships among church members and welcoming first-time attendees while reinforcing the central Easter message of love, sacrifice, and redemption.

“This is not just a celebration; it is a call to experience transformation and new beginnings,” the church said, adding that the programme has been carefully curated to deliver both spiritual inspiration and emotional impact.

The event will take place at The Grounds Sport Arena, with activities scheduled for 5:00 p.m. on Good Friday and 8:00 a.m. on Easter Sunday.

With expectations of a large turnout, the church said the programme—also tagged “The Power of Resurrection”—is open to people of all backgrounds and is intended to inspire faith, unity, and a renewed sense of purpose.

Residents across the city have been encouraged to participate, as organisers project the gathering as a significant Easter convergence focused on renewal, hope, and shared spiritual experience.

Easter: Church Targets Spiritual Renewal, Community Impact with Power-Packed Programme

Continue Reading

National News

Germany, Agrofood Fair Drive Investment and Technology for Nigeria’s Food Processing Sector

Published

on

Germany, Agrofood Fair Drive Investment and Technology for Nigeria’s Food Processing Sector

By: Michael Mike

Stakeholders from government, industry and the diplomatic community have intensified efforts to mobilise investment and modern technology to strengthen Nigeria’s food processing and packaging sector, as the 11th edition of Agrofood Nigeria concluded in Lagos.

The push was highlighted during a networking event hosted by the German Consulate General Lagos, where Nigerian agribusiness stakeholders, German exhibitors and members of the German diplomatic and business community discussed opportunities to deepen collaboration across Nigeria’s agri-food value chain.

Speaking at a press briefing, the German Consul General in Lagos, Daniel Krull, said strengthening agriculture and food processing is central to Nigeria’s long-term economic growth and food security.

Krull noted that improving the country’s food processing capacity would not only reduce post-harvest losses but also stimulate industrial growth, create jobs and enhance Nigeria’s ability to meet domestic food demand.

He pointed to Germany’s global strength in food processing technology as evidence of how innovation can transform agricultural output into competitive products.

According to him, Germany remains Europe’s largest exporter of coffee despite not cultivating the crop domestically, a feat made possible through advanced processing technology and value-addition capabilities that tailor products to consumer needs.

“Agriculture and food processing are key to addressing food insecurity and unlocking economic potential. Technology and innovation will play a decisive role in enabling Nigeria to fully harness these opportunities,” Krull said.

The annual exhibition, organised by German trade fair company fairtrade Messe GmbH, brings together players across the entire food value chain—from food production and ingredient manufacturing to processing equipment, packaging technologies and finished product distribution.

Managing Director of fairtrade Messe, Paul März, described the event as a vital marketplace where businesses across Nigeria and West Africa connect with global technology providers.

“It is a meeting point and market place where industry meets once a year for Nigeria and West African countries to come to Lagos to discuss products with exhibitors,” he said.

Now in its 11th year in Nigeria, the exhibition featured 137 companies from 17 countries presenting equipment and technological solutions aimed at strengthening food production, processing and packaging.

Since 2017, the fair has also hosted an official German Pavilion supported by the German Government, providing a platform for German manufacturers to showcase advanced machinery designed to improve Nigeria’s food processing capacity.

Organisers said the initiative is aimed at boosting Nigeria’s food self-sufficiency by introducing technologies that reduce dependence on imported food products while encouraging domestic production and industrialisation.

März said the exhibition has already contributed to noticeable improvements in Nigeria’s food processing ecosystem, particularly in the area of packaging and the development of new supply chains.

However, he stressed that significant gaps remain, especially in packaging technology needed to extend shelf life and meet international export standards.

According to him, several companies participating in the fair have already sold machines for sachet packaging, milk powder processing, PET bottling and recycling to Nigerian businesses.

“With its long-term approach, Agrofood will continue to hold yearly in Nigeria to provide even more solutions to existing problems such as food safety, recycling and processing,” he said.

Krull also highlighted Germany’s broader economic engagement with Nigeria, revealing that Germany currently maintains a development portfolio of about €570 million in the country.

He explained that beyond trade exhibitions, the German government supports Nigerian businesses through technical advisory services, vocational education and training programmes as well as financing opportunities for small and medium-scale enterprises.

These include credit facilities and financial support windows facilitated through the German Desk at Access Bank, which provides funding options for businesses seeking to invest in food processing technology.

German companies already operating in Nigeria are also investing heavily in workforce training to ensure local staff can operate and maintain advanced industrial equipment, thereby strengthening technology transfer.

While acknowledging challenges confronting Nigeria’s agri-food sector—including insecurity, financing constraints, regulatory issues and energy shortages—Krull stressed that such obstacles should not deter stakeholders from taking decisive action.

He said Nigeria possesses the natural resources, entrepreneurial capacity and market potential needed to achieve significant growth in the food processing sector if investment, technology and policy support are effectively aligned.

By connecting entrepreneurs, investors and technology providers, he added, initiatives like Agrofood Nigeria could play a pivotal role in accelerating the transformation of Nigeria’s agricultural economy.

Germany, Agrofood Fair Drive Investment and Technology for Nigeria’s Food Processing Sector

Continue Reading

National News

Shettima Hosts Gates Foundation Delegation as 2027 Political Calculations Begin

Published

on

Shettima Hosts Gates Foundation Delegation as 2027 Political Calculations Begin

By: Michael Mike

Nigeria’s Vice President, Kashim Shettima, on Wednesday received a high-level delegation from the Gates Foundation at the Presidential Villa in Abuja, in a visit that observers say comes at a politically sensitive moment ahead of the 2027 presidential election.

The delegation was led by the President of the foundation’s Global Growth and Opportunity division, Hari Menon, and included senior officials of the organisation’s Nigeria office. The team briefed the vice president on the foundation’s ongoing programmes and partnerships in Nigeria.

Posting on his verified Facebook page after the meeting, Shettima commended the foundation for its long-standing support to Nigeria in critical sectors such as health, agriculture and development.

“Yesterday, I received in audience a delegation of the Gates Foundation led by the President of the Foundation’s Global Growth and Opportunity (GGO) division, Mr. Hari Menon, at the Presidential Villa, Abuja,” the vice president said.

“In my interaction with the delegation, I applauded the Gates Foundation for sustaining investments and humanitarian aid in Nigeria. Indeed, the Foundation remains the nation’s strategic partner in the drive to change the Nigerian narrative.”

The visit comes amid growing political conversations about the composition of the ruling ticket ahead of the 2027 presidential election and whether President Bola Ahmed Tinubu will retain Shettima as his running mate.

Although the meeting was officially centred on development cooperation, political watchers say the timing has drawn attention within policy and political circles, especially given the influence of the foundation founded by billionaire philanthropist Bill Gates.

Sources familiar with the engagement said discussions focused largely on the foundation’s interventions in Nigeria, including programmes aimed at improving public health, expanding agricultural productivity and supporting vulnerable populations.

During his visit to Nigeria, Menon also held diplomatic engagements, including a visit to the Indian High Commission where he met with the ambassador, Abhishek Singh.

The Gates Foundation has operated in Nigeria since 2000 and has been a key partner in several national initiatives, particularly in immunisation campaigns, disease control, nutrition and agricultural development. The organisation marked 25 years of its presence in the country in 2025.

Despite its extensive development footprint, some of the foundation’s programmes have occasionally attracted debate in Nigeria, particularly around issues such as genetically modified crops, vaccination initiatives and population policies.

Analysts say that as political alignments gradually begin ahead of 2027, high-profile international engagements by key government figures may increasingly attract attention beyond their immediate development objectives.

Shettima Hosts Gates Foundation Delegation as 2027 Political Calculations Begin

Continue Reading

Trending

Verified by MonsterInsights