Nigeria examines DFC option in infrastructure finance – Minister | The Guardian Nigeria News
The federal government wants to examine the US-American International Development Finance Corporation (DFC) in the procurement of funds for the infrastructure expansion.
This was announced by the Minister for Information and Culture, Alhaji Lai Mohammed, on Saturday in Washington after a meeting with Mr. Johnnie Carson, a senior adviser to the US Peace Institute.
Nigeria’s News Agency (NAN) reports that DFC is the federal government’s development finance institution 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 was a continuation of the proposal made by Carson, a former US assistant secretary of state for African affairs.
“In my letter, I told Ambassador Carson that most of the infrastructure development in Nigeria today is funded by either a loan or a facility, and I see the US is missing out.
“He replied that there is good news because the last government approved the DFC, which only guarantees loans to developing countries.
“He said DFC is also going to provide funding for certain projects in developing countries and even allow them to help fund some projects.
“So I told him we would follow up on this.
“I will discuss this with my colleague, the Minister of Finance, because the ambassador says this is another opportunity that we need to explore,” he said.
The minister said the meeting with the US diplomat, who had served as his country’s ambassador to several African nations, gave him the opportunity to present a range of social, economic and security issues related to Nigeria.
“I presented the progress we have made in the fight against banditry, rioting, COVID-19, corruption and corrected the fake news that Muslims are persecuting Christians.
“To him, it was like preaching to the converts because he has a broad knowledge of Africa and Nigeria in particular,” he said.
NAN reports that the minister will also hold a closed-door meeting with Dr. Peter Pham, a distinguished fellow of the Atlantic Council, a think tank.
The minister said the meeting with Pham, former President Trump’s special envoy for the great lake region of Africa, had been productive.
“We had a very useful and fruitful discussion and were able to convey our stories to him about security, COVID-19, Twitter ban, the economy and how well we are doing in the area of infrastructure.
“We have exposed the negative and fake stories about the persecution of Christians by Muslims,” he said.
The minister said Pharm had made very useful suggestions that would be followed up.
NAN reports that the minister is in the US to connect with various global media, global think tanks and influencers.
The commitment is intended to enable the minister to deliver the right narratives about what is happening in Nigeria, to present the government’s achievements and to present the country’s challenges.
The minister also conducted interviews with BBC Radio and Television, Reuters, Bloomberg, Washington Post, Politico and Voice of America, Radio and Television.