NSIA Secures $700m Loan To Develop Agriculture, Real Estate

Uche-Orji

In a bid to diversify the economy and reduce unemployment, the Nigeria Sovereign Investment Authority (NSIA) has secured a $700m loan deal for the development of the real estate and agricultural sector.

Speaking while signing the deal for the loan, Mr Uche Orji, Managing Director of the agency that manages Nigeria’s Sovereign Wealth Fund said both the real estate and agricultural sector has the capacities to provide adequate jobs thereby reducing poverty,

Mr Orji explained that the fund would be divided into two with $500m for the real estate while the remaining $200m would be for agriculture.

The Minister of Finance, Mrs Kemi Adeosun who was also present at the signing ceremony said the development was a welcome idea and it’s part of president Muhammadu Buhari’s plan in achieving economic diversification.

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