President Bola Tinubu on Monday advanced the negotiations for a multi-billion-dollar infrastructure finance facility from the Islamic Development Bank (IDB) in Saudi Arabia.
This was contained in a statement shared by the president spokesperson on Media and Publicity, Ajuri Ngelale, on Tuesday.
According to the statement, the negotiation took place during the President’s visit to Mecca, Saudi Arabia alongside the Vice-President (Country Programs) of the IDP Dr Mansur Muhtar.
Ajuri noted that the bank pledged billions of dollars in funds for infrastructural projects in the country.
The funding is intended to back various projects across federal and sub-national levels in Nigeria.
Speaking during the discussion with the vice president of the bank, the President stated that Nigeria is an investment destination and promises one of the world’s high-yielding returns for any serious investor, describing the country “as a candle of hope for Africa.”
On his part, the Vice-President of the Islamic Development Bank said the financial world has been monitoring events in Nigeria and has concluded that Africa’s largest economy means business this time.
