WorldStage Newsonline– Standard Chartered Bank has indicated interest to finance key infrastructure projects in Nigeria, including the Lagos-Calabar coastal highway, Port Harcourt-Maiduguri rail line rehabilitation, as well as the provision of $3 billion in innovative financing for the NLNG dividend initiative.
The Coordinating Minister of the Economy and Minister of Finance, Mr. Wale Edun who disclosed this on Monday in Abuja when President Bola Tinubu met the Group Chief Executive of the bank, Mr. Bill Winters described the bank as a valued partner to Nigeria, providing finance for infrastructure, advice on ratings, and the prudent management of Nigeria’s Eurobond.
”They are also one of our lead managers for Eurobond issuance, and they advise us on our ratings. I am pleased to note that Moody’s has just completed our rating review and maintained Nigeria’s rating as a positive outlook, which is very encouraging,” the Minister said.
The Minister also said Moody’s positive outlook rating follows the recent announcement of the World Bank’s $2.25 billion financing package for Nigeria, reflecting the positive trajectory of the current administration’s economic reforms.
In his remarks, Mr. Winters lauded President Tinubu’s bold economic reforms, noting the international investment community’s recognition and support.
”We see ourselves as ambassadors to Nigeria in the international investment community, and we take our advisory role very seriously. We will continue to offer objective advice to the country because we have commitments in the country backed by our strong belief in what this administration is doing,” he said.
The delegation from Standard Chartered Bank included Mr. Foluso Phillips, Chairman of Standard Chartered Bank Nigeria, and Mr. Dalu Ajene, the Chief Executive Officer of the Nigeria branch of the bank.
