Vice President Kashim Shettima has hailed ExxonMobil’s announcement of a proposed $10 billion investment in Nigeria’s deep-water oil operations as a significant endorsement of the administration’s economic reforms and investment-friendly policies. His comments came during a meeting with ExxonMobil executives on the sidelines of the ongoing 79th Session of the United Nations General Assembly.
In related news, the international maritime company DP World has also revealed plans to invest in a multibillion-dollar port project in Nigeria, further highlighting the country’s growing appeal to foreign investors.
Nigeria Secures $600,000 for Flood Relief and Health Initiatives
In another development, the Nigerian government has secured a $600,000 relief fund from the Bill and Melinda Gates Foundation aimed at aiding victims of recent devastating floods, as well as for health and agricultural sector reforms. The announcement was made during a meeting between Vice President Shettima and Dr. Christopher Elias, head of the Gates Foundation’s Global Development Programme.
The foundation’s support includes the flood relief fund targeted specifically for Borno State and an additional $5 million grant to develop the agricultural economics of industrial cassava through partnerships with the Lagos Business School.
Vice President Shettima emphasized the administration’s commitment to prioritizing health, nutrition, and agricultural development as essential components of Nigeria’s national agenda. He highlighted the urgency of addressing the malnutrition crisis and securing locations for maize production under the Telemaze programme.
Shettima assured that the government is ready to expedite import permits for certified seeds, underscoring the importance of food security and industrial agricultural development. He expressed confidence that Nigeria, with the expertise of its ministers and the support of partners like the Gates Foundation, could drive substantial improvements in the lives of its citizens.
Dr. Elias expressed the foundation’s commitment to supporting Nigeria, particularly in times of crisis, and praised the national task force’s efforts in combating polio. The Gates Foundation is also committed to advancing drought-tolerant maize production and enhancing the Nigeria Cassava Investment Accelerator programme, which is seen as a multi-billion-dollar opportunity for the nation.
Additionally, Uche Amaonwu, Director of the Nigeria Country Office at the Gates Foundation, highlighted ongoing investments and collaborations in various sectors, including reproductive health.
The meeting also featured a courtesy call from Alh. Aliko Dangote, President and CEO of the Dangote Group, who is co-chair of the Bill and Melinda Gates Foundation, further reinforcing the commitment of key stakeholders to Nigeria’s development.
