Nigeria Receives A $19.5 Billion Investment Pledge At The UNGA

Nigeria Receives A $19.5 Billion Investment Pledge At The UNGA

During the UNGA in New York, Amina Temitope Ajayi, the former president of the All Nigerian-American Congress (ANAC), brought almost $19.4 billion in committed investment to Nigeria through her company, Silicon Valley Nigerian Economic Development Inc. (SVNED).

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Three investors—CITCO Global Holdings, Global Expansion AXIATel, and Allen Le & Partners International Vietnam—promised to invest $5 billion, $3.2 billion, and $11.2 billion, respectively, in the development of different sectors of Nigeria’s economy in a joint statement released by the partners yesterday following the signing of the memorandum of understanding.

Tourism, aviation, technology, telecommunications, agriculture, sports, entertainment, and the energy sector are among the sectors.

It is anticipated that the cooperation will also help the nation’s troubled economy and give young people job chances.

Speaking on the collaboration, SVNED Chief Executive Officer Ajayi said the economic summit in New York offered a chance to emphasize how much more funding is needed for the Sustainable Development Goals (SDGs) of the United Nations.

SDG Eight, according to her, places a high priority on decent work for all people, productive employment, and sustained, inclusive, and sustainable economic growth.

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

She claims that the investment further advances Sustainable Development Goal 17 (SDG 17), which addresses bolstering implementation strategies and reinvigorating the Global Partnership for Sustainable Development.

During his remarks, Morgan Martinez, a representative of Global Expansion AXIATel, announced that the company would be investing $3.2 billion in Nigeria in addition to advancing the travel, aviation, technology, telecommunications, agriculture, entertainment, sports, and energy sectors.

Kingsley Onyeocha, the President and CEO of Allen Le & Partners International Vietnam, also gave a speech during which he committed to investing up to $11.2 billion in mining, affordable housing projects, a 2:1 solar megawatt agric project, electric vehicle assembly plants, and battery plants.

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