FG to seek infrastructure financing from US-Minister

FG to seek infrastructure financing from US-Minister

The Federal Government has decided to look at the opportunity of getting infrastructure financing from the United State so as not to rely heavily on China and others alone, according to Minister of Information and Culture,  Lai Mohammed.

The country believes that expanding the frontier will help in bridging the infrastructure deficit facing the country and it is for this reason  that the idea to explore the United State International Development Finance Corporation (DFC) in sourcing fund for its infrastructural development was birth.

 Mohammed disclosed this on Saturday in Washington after a meeting with Mr. Johnnie Carson, a Senior Advisor at the United States Institute for Peace.

In an interview with Voice of Nigeria in Washington DC on Saturday, he disclosed that after expressing the need for the U.S to be a part of the historic infrastructure revolution ongoing in Nigeria, Mr. Carson, a former U.S. Assistant Secretary of State for African Affairs then put forward the suggestion to access the DFC.

“In my brief, I explained to Ambassador Carson that it will appear most of the infrastructural development in Nigeria today, is being funded by either a loan and facility and I can see that the US is missing out.

“He responded that there is good news because the last administration approved the DFC which only guarantees loans for developing countries.

“ He said DFC also go further to make funding available for certain projects in developing countries and even allow them to take equity in funding of some projects. So, I told him we are going to pursue this.

“I will discuss this with my colleague, the Minister of Finance because what the ambassador is saying is that this is another opportunity we need to explore,’’ he said.

DFC is the development finance institution of the US federal government, primarily responsible for providing and facilitating the financing of private development projects in lower- and middle-income countries.

The minister further disclosed that the meeting with the US diplomat who had served as his country’s Ambassador to several African nations afforded him the opportunity to present a number of social, economic and security issues relating to Nigeria.

“I presented what progress we have made in the area of fighting banditry, insurgency, COVID-19, corruption and correct the fake news that Muslims are persecuting Christians.

“To him, it was like preaching to the converted because he has broad knowledge about Africa, Nigeria in particular.’’

In another round of meeting with Dr. Peter Pham, former President Trump’s Special Envoy to the great Lake Region of Africa, who is also the Vice President of the Atlantic Council, the Minister discussed wide ranch of socio-political issues.

‘’We had a very useful and fruitful discussion and we were able to put across to him our narratives on security, COVID-19, Twitter ban, economy and how well we are doing in the area of infrastructure.

‘’We debunk the negative and fake stories about persecution of Christians by Muslim,’’

Dr. Pham also proffered wide ranch of advice and possible solutions that will help.

Recall that after a hiatus, Alhaji Lai Mohammed travelled to the U.S for his routine engagement with international media and Think-Tanks to put across the true narrative and get feedback.

The minister also appeared on the BBC Radio and Television, Reuters, Bloomberg, Washington Post, Politico, Voice of America, Radio and Television as well as a couple of Think Tanks.

VON