Nigeria to explore DFC option in infrastructure finance – Minister | The Guardian Nigeria News

The HMIC, Alh. Lai Mohammed

The federal government has said it will explore the American International Development Finance Corporation (DFC) to find funds for its infrastructure development.

The Minister of Information and Culture, Alhaji Lai Mohammed made it known Saturday in Washington after a meeting with Mr. Johnnie Carson, senior adviser at the American Institute for Peace.

The Nigerian News Agency (NAN) reports that DFC is the development finance institution of the United States federal government, primarily responsible for providing and facilitating funding for private development projects in low and middle income countries.

Speaking to NAN after the meeting, the minister said the decision followed the suggestion of Carson, a former US assistant secretary of state for African affairs.

“In my brief I explained to Ambassador Carson that it would appear that most of the infrastructure development in Nigeria today is funded by a loan and a facility and I can see that the United States is missing something. thing.

“He replied that there is good news as the last administration approved the DFC which only guarantees loans to developing countries.

“He said that DFCs also go further to make funding available for certain projects in developing countries and even allow them to take equity stakes in the funding of certain projects.

“So I told him we were 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 that we must explore,” he said.

The minister said that the meeting with the American diplomat who had served as his country’s ambassador to several African countries enabled him to present a number of social, economic and security issues relating to Nigeria.

“I presented the progress we have made in the area of ​​combating banditry, insurgency, COVID-19, corruption and corrected the false news that Muslims persecute Christians.

“For him it was like preaching to converts because he has a vast knowledge of Africa, Nigeria in particular,” he said.

NAN reports that the Minister also held a closed-door meeting with Dr Peter Pham, a distinguished member of the Atlantic Council, a think tank.

The minister said the meeting with Pham, President Trump’s former special envoy to the Great Lakes region of Africa, had been productive.

“We had a very useful and fruitful discussion and were able to share our stories with him on security, COVID-19, the ban on Twitter, the economy and our progress in infrastructure.

“We have debunked the negative and false stories about the persecution of Christians by Muslims,” he said.

The minister said that Pharm had made some very useful suggestions which would be acted upon.
NAN reports that the Minister is in the United States to engage with various global media, think tanks and global influencers.

The commitment is to enable the Minister to convey the correct narratives about what is happening in Nigeria, to present the achievements of the government and the current challenges facing the country.

The minister also had talks with BBC Radio and Television, Reuters, Bloomberg, Washington Post, Politico and Voice of America, Radio and Television.

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