The Federal Government on Tuesday disclosed that it secured $12 million commitment from the United States (US) to enhance transparency in the management of public finance in the country.
The Minister of Foreign Affairs, Ambassador Yusuf Tuggar, made this disclosure while outlining the challenges and achievements of President Bola Tinubu administration’s one year in office during a the Ministerial Sectoral briefing in Abuja.
According to him, as an outcome of the U.S.-Nigeria, the U.S. committed to contributing at least $12 million to Nigerian efforts to increase the transparency of public monetary management and civil society efforts to increase government transparency.
Similarly, the minister hinted that the US Government had agreed to repatriate stolen Nigerian funds, which will be reinvested in Nigeria’s public sector through the African Development Bank (AFDB), adding that repatriation of stolen Nigerian funds from the US to be utilised for investment in Nigeria’s public sector will be received through the AfDB.
Speaking on key achievements of the Tinubu-led administration in the past one year, Tuggar
spoke on the FG’s establishment of a Joint Business Council with Qatar to facilitate trade partnerships, investment opportunities, and economic growth.
He listed some other notable achievements of the administration under the purview of his ministry as a €250 million investment from the Netherlands, $14 billion in investment commitments from Indian investors across various sectors, and a $2 billion investment with Germany for the Nigeria-Siemens Power Project.
Tuggar also spoke on other bilateral and multilateral agreements sealed by the Federal Government with other foreign countries as including a $500 million memorandum of understanding (MOU) for exporting Liquefied natural gas (LNG) to Germany and multiple MOUs with France worth $600 million to promote digital technology and creative industries.
On job opportunities created for Nigerian youths through the deals, the minister explained that the ministry had engaged over 300 youths within and outside the country to create opportunities for them.
He said: “This included an MOU with India’s Lab Four to provide 50,000 full-time business process outsourcing (BPO) jobs to Nigerians over the next three years.
“Agreements have also been signed with Qatar regarding the employment of Nigerian workers, and with the U.S. to prioritize the movement of people under the bilateral extradition treaty”, Tuggar added.
Also, he disclosed that discussions with the European Union (EU) were ongoing to address the return, readmission, and reintegration of Nigerians who do not fulfill entry conditions, noting that the administration has also made strides in diaspora engagement, implementing the National Diaspora Policy and registering over 10,890 Nigerians in the diaspora database.
He clarified: “There have been engagements with over 300 diaspora professionals, and efforts have been made to repatriate Nigerians detained in Addis Ababa, Ethiopia.
“Consular services are being digitalized to improve service delivery, with a pilot launched at Nigeria’s High Commission in London”, the minister added.
