Nigeria’s economy is about to experience huge boost, as Heritage Bank Plc, African Export Import Bank and Zamfara State Government at the weekend signed a $1bn Memorandum of Understanding (MoU) in the areas of mining, agriculture, water resources and others.
The agreement stipulated that Heritage Bank is the banker to the project.
Another financial handler involved in the signing of the MoU was PAC Capital Limited, which is the investment banking arm of PanAfrican Capital Holdings.
Ifie Sekibo, the Managing Director, Heritage Bank, speaking with journalists at the signing of the MoU in Abuja, stated that the win-win collaboration amongst the institutions would promote and fast-track support that help Zamfara explore its unharnessed resources for the benefit of its people and the nation’s economy.
According to him, this bold initiative would help unlock massive opportunities inherent in solid minerals and support efforts on local content promotion, facilitate industrial development and export development.
Sekibo, who was excited for Heritage Bank being involved in the partnership said: “it is a game changer that will drive formidable economic growth for the state government, serve as backbone to the economy through job creation, as well a way of cushioning the present economic situation.”
Prof. Benedict Oramah, President, Board of Director, Afreximbank, said the financial institution was happy to be part of the partnership towards unlocking the abundant opportunities in the state.
He said: “We had a very fruitful meeting with the delegation from Zamfara State led by the governor.
“In Afrexim Bank, we are pleased that the leadership of Zamfara State has a clear vision. They have identified clearly the strengths of their state, the opportunities and what they need to unlock these opportunities.
“They have decided to take their own destiny in their hands, which is actually the foundation of the federal structure that we operate in Nigeria, that states should do all they can to maximise the use of the resources they have for the benefit of their people, so that collectively, we can grow the economy of Nigeria to become more that it is today.
Bello Matawalle, Zamfara State Governor, who commended Heritage Bank for facilitating the funds, noted that the discussion commenced barely two weeks ago in Dubai.
He said that his administration is committed to making the state a full secured state.
“We started this discussion just about two weeks ago when we met with some Afreximbank people in Dubai with the Managing Director of Heritage Bank for which he promised to deliver our message to the bank. Within that week, he contacted him and the Afreximbank President decided to come to Nigeria.
“Zamfara State, as you are all aware, had so many issues before my emergence as the governor, for which reason and to limited time, just a month, God helped us to tackle some of these issues.
“We have started that by engaging the bandits in peace, which they have accepted to lay down their arms. As at today, Mr. President, we have secured the release of over 300 people that are under captivity. The securing of the release of these people was done without any commitment; no single kobo or ransom was paid to the bandits,” he said.
The post Heritage Bank, Afreximbank, Zamfara Sign $1bn MoU On Agric, Solid Minerals appeared first on Independent Newspapers Nigeria.
Source: Independent
CLICK HERE TO READ FULL CONTENT
Brought to you by: RIDBAY | WEBSITE DESIGN & DIGITAL MARKETING
