Breaking: Buhari Meets US Treasury Sec in Saudi-Arabia, Seeks American Investment in Power Sector

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SWITZERLAND, OCTOBER 31 – President Muhammadu Buhari met with U.S. Treasury Secretary Steven Mnuchin in Riyadh, Saudi Arabia, during the Future Investment Initiative (FII) Forum, on Wednesday Oct 30. Present at the meeting were the Minister of State for Petroleum Resources, Timipre Sylva, and the GMD of the Nigerian National Petroleum Corporation(NNPC), Mele Kyari.

Secretary 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 Department.

President Buhari said Nigeria will leverage on the U.S. International Development Finance Corporation (USIDFC)—which is providing $60 billion for investments in developing nations—to address challenges in the power sector and other areas of infrastructure.

He thanked the U.S government for supporting Nigeria’s anti-terrorism efforts, and also discussed with Secretary Mnuchin about strengthening Nigeria’s ongoing collaboration with the United States on stopping terrorist financing.

Buhari has also expressed the willingness of the Nigerian government to mobilize additional capital from development finance institutions for the upgrade of critical infrastructure in the country.

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