Investors to Inject $14bn into Nigerian Economy - Thisday

August 30, 2016
By Crusoe Osagie

International investors, under the aegis of Greenstone Capital International Africa and Tacnero Global, have announced the approval of $14billion for Nigeria out of the $200billion that would be injected into five African countries.

The money is to be warehoused in Standard Chartered and two other Nigerian banks for immediate project execution in Nigeria.

The group's legal adviser, Greg Anumenechi, who made this known in a statement said the investors were still committed to strategic sectors of the country's economy including sectors ?like Agriculture, Aviation, Medicals, Solid Minerals, Marine, Power and Petroleum.

The investment tagged AMPLE, will be extended into real estate, Industries, Information Technology, Parks, Education and the expansion of Nigeria's version of Silicon Valley. Other African countries to benefit are Ghana, Democratic Republic of Congo, Somalia and South Africa. ?Anumenechi noted that the investors had already gotten the approval for a Silicon Valley University in Lagos State, adding that they were also investing in the development of clean energy to serve the entire country as well as building an ultra-modern modular refinery for oil and gas development.

He noted in the statement that the Silicon Valley Charis International University has been described by Anthony Owens, a British Chartered Accountant from the UK group as being the first in Africa for ICT Industrial Park.

With the release of part of the funds it is expected that the project will commence immediately. Anumenechi said "It will create jobs as many Nigerians will be engaged in the construction process and upon completion, the project will in turn boost the internally generated revenue for the country."

It is expected that the injection of such massive funds into Nigeria and the other African countries for business development will generate over two million employment opportunities in Africa, with Nigeria taking the chunk because of its enormous potential.

Anumenechi said: "some of the projects already earmarked and approved for Nigeria include the construction of massive housing schemes in Festac and Ibeju-Lekki areas of Lagos; agriculture development projects in Osun and Ogun states; an international airline and a world-class pharmaceutical industry also in Osun State."

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Steven Rich
Sep 17, 2018:
Well done

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