Nigeria’s active participation in the 79th United Nations General Assembly (UNGA) has already yielded substantial success, as the United States Chamber of Commerce committed $320 million towards key initiatives in Nigeria. This announcement, made by Vice President Senator Kashim Shettima via his official X handle, marks a significant milestone in the Tinubu administration’s push for economic reforms, with a particular focus on mortgage refinancing, support for small and medium enterprises (SMEs), and women’s empowerment.
During the high-level engagement in New York, the US Chamber of Commerce pledged its financial commitment to bolstering Nigeria’s mortgage financing sector and empowering its SMEs. This investment will provide critical support to the nation’s economic agenda, aimed at creating a more business-friendly environment that attracts foreign investors while addressing domestic economic challenges.
Vice President Shettima, representing President Bola Ahmed Tinubu at this year’s UNGA, assured investors and stakeholders of the administration’s unwavering dedication to fostering an investment climate that encourages sustainable development and growth. He emphasized that the $320 million commitment is only the beginning of broader cooperation between Nigeria and the US Chamber of Commerce, which will further drive economic transformation in the country.
Shettima, who leads Nigeria’s delegation at the assembly, also convened with top government officials to strategize Nigeria’s engagements at the UNGA. The delegation’s focus remains on securing partnerships and investments that will spur economic growth, particularly in critical sectors like housing and SME development.
With the US Chamber of Commerce on board, Nigeria is poised to make headway in addressing its housing deficit and boosting entrepreneurial opportunities, both of which are key components of the Tinubu administration’s long-term vision for inclusive economic development.
This successful start to the 79th UNGA underscores the potential for Nigeria’s international engagements to deliver tangible outcomes, as the country continues to navigate its path toward a more diversified and resilient economy.
PIONEER NEWS 