Joint companies pledge $19.5 billion investment to Nigeria at UNGA

Former President of the All Nigerian-American Congress (ANAC), Amina Temitope Ajayi, has through her firm, Silicon Valley Nigerian Economic Development Inc. (SVNED), attracted over $19.4 billion pledged investment to Nigeria on the sideline of the United National General Assembly (UNGA) in New York.

In a joint statement from the partners released after the signing of the memorandum of understanding, three investors, namely CITCO Global Holdings, Global Expansion AXIATel, and Allen Le & Partners International Vietnam all pledged to invest $5 billion, $3.2 billion, and $11.2 billion respectively in the development of various sectors of Nigeria’s economy.

The sectors include tourism, aviation, technology, telecommunications, agriculture, entertainment, sports and energy industries.

The partnership is projected to also improve the country’s strained economy while creating employment opportunities for the youth.

Speaking about the partnership, Ajayi who is the Chief Executive Officer of SVNED, said the economic summit in New York provided an opportunity to amplify the need for additional support for the United Nations Sustainable Development Goals (SDGs).

She said SDG Eight prioritizes sustained inclusive and sustainable economic growth as well as productive employment and decent work for all.

“It also speaks to goal nine, which supports the need to build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation,” she said.

According to her, the investment also promotes SDG 17, which talks about strengthening the means of implementation and revitalizing the Global Partnership for Sustainable Development.

Speaking on the investment, the representative of Global Expansion AXIATel, Morgan Martinez, said the firm would be bringing a $3.2 billion investment to Nigeria, while at the same time developing the tourism, aviation, technology, telecommunications, agriculture, entertainment, sports and energy industries.

Also speaking, the President and Chief Executive Officer of Allen Le & Partners International Vietnam, Kingsley Onyeocha, pledged to invest up to $11.2 billion in the areas of eco-friendly transportation including electric vehicle assembly plant and batteries plant, 2:1 solar megawatt agric project, mining and affordable housing projects.  

Source: guardian.nigeria