Gov. Bello Matawalle of Zamfara, has signed a $1 billion Memorandum of Understanding (MoU) with Afreximbank for the economic revitalisation of the State.
This is contained in a statement signed by Alhaji Yusuf Idris, the Director-General on Press Affairs to the governor and made available to newsmen in Gusau on Sunday.
The signing ceremony was held at the Transcorp Hilton Hotel, Abuja.
The statement said Matawalle signed on behalf of Zamfara State Government while President of Afreximbank, Dr Benedict Orama signed for the bank.
The governor expressed appreciation to the bank for agreeing to support his administration to provide enabling environment to boost trade and industrialisation in the state.
He listed the areas the MoU would cover to include solid minerals, agriculture, textile development, healthcare, airport construction and power generation.
Matawalle assured of his administration’s determination to facilitate all the legal steps to back the agreement.
He further said that the government would ensure diligence, due process and accountability in implementing the agreement.
The noted that improvement in the state economic sectors would translate to more internal revenue and more job opportunities for the youths.
The governor further explained that the bank would invest the one billion US Dollars with no counterpart funding from the government.
He however said that the Zamfara government would provide enabling environment for investors expected to tap from the fund.
Matawalle expressed confidence that the agreement would soon change Zamfara state to an enviable economically developed role model in Nigeria and Africa.
In his remarks, President of the Bank, Dr Benedict Oroma, said Afreximbank became interested in investing in Zamfara because of the clear and renewed economic vision of the government.
He added that after series of discussions with the state officials, the bank agreed to sign the MoU of one billion US Dollars for investment in the major economic areas of the state.
He assured attainment of an economic investment that would uplift the state’s economic status and create more wealth and social security for the people of the state and beyond.
