U.S. Treasury Secretary Steven Mnuchin meets Nigerian President for trade and investment talks

The U.S. Treasury Secretary, Steven Mnuchin, met with Nigerian President, Muhammadu Buhari, in Riyadh, Saudi Arabia, on Wednesday, for trade and investment talks.

President Buhari with U.S Treasury Secretary, Steven Mnuchin, Nigeria’s Minister of State, Petroleum Resources, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, in Riyadh during the Future Investment Initiative (FII) forum on Wednesday, October 30, 2019. Abdul Sule/State House Photo
President Buhari with U.S Treasury Secretary, Steven Mnuchin, Nigeria’s Minister of State, Petroleum Resources, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, in Riyadh during the Future Investment Initiative (FII) forum on Wednesday, October 30, 2019. Abdul Sule/State House Photo

Both men had positive discussions on investments in Nigeria under the new United States International Development Finance Corporation (USIDFC), which provides $60 billion for investments in developing nations, the presidency in Nigeria said in a statement to TODAY NEWS AFRICA USA.

President Muhammadu Buhari expressed the willingness of the Nigerian government to mobilize additional capital from development finance institutions for the upgrade of critical infrastructure in the country. 

Speaking at the meeting held on the margins of the Future Investment Initiative (FII) forum, President Buhari said Nigeria will leverage on the U.S facility to address current challenges confronting her power sector as well as general upgrade of infrastructure.

The President thanked the U.S government for supporting Nigeria’s anti-terrorism efforts. 

The President and Mnuchin also discussed areas of strengthening Nigeria’s ongoing collaboration with the United States on stopping terrorist financing.

Mnuchin was accompanied by Brent Macintosh, Under Secretary of the Treasury for International Affairs and Marshall Billingslea, Assistant Secretary for Terrorist Financing in the United States Treasury Department.

President Buhari with U.S Treasury Secretary, Steven Mnuchin, Nigeria’s Minister of State, Petroleum Resources, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, in Riyadh during the Future Investment Initiative (FII) forum on Wednesday, October 30, 2019. Abdul Sule/State House Photo
President Buhari with U.S Treasury Secretary, Steven Mnuchin, Nigeria’s Minister of State, Petroleum Resources, Timipre Sylva and the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, in Riyadh during the Future Investment Initiative (FII) forum on Wednesday, October 30, 2019. Abdul Sule/State House Photo

The Treasury Secretary used the occasion to introduce Macintosh who was recently promoted Under Secretary for International Affairs by President Trump after the previous Under Secretary David Malpass was elected President of the World Bank.

The Nigerian leader congratulated Macintosh on his elevation and requested for his continued support to Nigeria especially in accessing the $60 billion infrastructure fund under the USIDFC.

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Simon Ateba
Simon Ateba
Based in Washington, District of Columbia, United States of America, Simon leads a brilliant team of reporters, freelance journalists, analysts, researchers and contributors from around the world to run TODAY NEWS AFRICA as editor-in-chief. Simon Ateba's journalistic experience spans over 10 years and covers many beats, including business and investment, information technology, politics, diplomacy, human rights, science reporting and much more. Write him: [email protected]

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