The Nigeria Export-Import Bank (NEXIM) said it secured $400 million facility from the Africa Export-Import Bank (Afreximbank) and other multilateral institutions for infrastructure development in ports including Burutu Port, in Delta State, among other projects.
Speaking at the Naval Headquarters in Abuja on Wednesday, NEXIM Managing Director, Abubakar Bello, said the bank, in a renewed determination to ensure the success of the project, engaged multilateral institutions which culminated in the signing of an MoU with Afreximbank.
“We engaged multinational institutions and I want to tell the consortium members that we have signed an MoU with Afrexim bank for $400 million, which Burutu port is part of them,” he said.
In his remarks, the Chief of the Naval Staff, Vice Admiral Awwal Gambo, said the MoU on the Burutu Port, which was abandoned by the colonialists in the 1920s was a dream come true.
“The project is a Nigerian project. I am happy to be part of history. It is divine that we are doing this today. The dream is a dream of 18 years. It is divine. God wants it to happen and it will happen. Nobody wants to work but everyone wants to harvest. I am happy to be part of history. It’s for our people, not for individual purposes,” he said.
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