American investment flow to Nigeria now $20bn, says Ambassador
Adefuye told reporters at the Nigerian-American Chamber of Commerce Trade Mission Forum in Washington DC on Tuesday.
'The total American foreign investment flow to Nigeria rose to about 60 per cent in the last three years; I think it is about 15 to 20 billion dollars right now.''
He said that the mission through its investment forum focused its intervention in three key areas of power, agriculture and infrastructure.
According to him, many American businessmen are interested in investing in Nigeria.
'There has been so much in terms of Foreign Direct Investment to Nigeria; for instance, the US Export and Import Bank provided 1.5 billion dollars guarantee for any American firm that is investing in Nigeria's power sector.
'The General Electric signed an MOU with the Federal Ministry of Power to generate 10 to 20,000 watts of electricity.
'An American firm, Simeon Power, won the contract to privatise the Ughelli Power Plant and with EXIM Bank's support.''
He said that another American company had started the building of factory for the production of tractor equipment in the country.
The ambassador also said that many American companies had indicated interest in developing infrastructure in the country, adding that a particular one had indicated interest in estate development, especially the extension of the Asokoro District in the Federal Capital Territory.