government to mobilize additional capital from development finance
institutions for the upgrade of critical infrastructure in the country.
The President met with U.S Treasury Secretary, Steven Mnuchin in Riyadh
on Wednesday and they had positive discussions on investments in Nigeria
under the new United States International Development Finance
Corporation (USIDFC), which provides $60 billion for investments in
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
The President and Mnuchin also discussed areas of strengthening
Nigeria’s ongoing collaboration with the United States on stopping
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
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.