Nigeria Signs $30 bn Export-Financing Deal

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Nigeria Signs $30 bn Export-Financing Deal

The federal government of Nigeria has reached a 30 billion US dollar export-financing deal with investment partners, local media reports.

Among the partners are the African Export-Import Bank, Africa Finance Corp., the African Development Bank, the Bank of Industry and the Nigerian Sovereign Investment Authority.

Africa’s biggest oil producer is looking to increase the manufacturing industry’s share of gross domestic product to 20 percent, Bloomberg said.

The West African nation also hopes to generate $30 billion in annual export earnings and create 1.5 million jobs in the next six years.

Bloomberg said spokesmen for the presidency and the Ministry, Trade, Industry and Investment could not be reached outside of business for comments.

An Afrexim bank official declined to immediately comment.

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