• Wednesday, April 24, 2024
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BusinessDay

US investment agency sees huge benefits coming to Nigeria

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Overseas Private Investment Corporation (OPIC), a U.S. development agency, anticipates huge benefits coming to Nigeria as African Diaspora and United States’ investors show more interest in opportunities on the continent.

OPIC sells investment services to assist U.S. companies gain foothold in emerging markets by providing investors with financing, guarantees, political risk insurance, and support for private equity investment funds.

Mimi Alemayehou, OPIC’s executive vice president, who in an interview with BusinessDay in Abuja revealed that investment support to projects in Nigeria was currently over $550 million, also said that the agricultural sector had a lot of potential for investment, noting there was also still room to do more in financing the micro finance sub-sector.

Notably, the agency is currently supporting a fertiliser company in Edo State and a paper recycling firm.