Nigeria, AfreximBank sign $3.5bn deal on textile industry, CNG buses, others

The Federal Government and African Export-Import Bank (Afreximbank) have signed a $3.5 billion deal to boost the textile industry and promote the use of Compressed Natural Gas (CNG) vehicles, among other initiatives in the country.

The Minister of Industry, Trade, and Investment, Doris Uzoka-Anite, disclosed this in a statement on the X platform on Tuesday.

She said the deal was signed with the international financial institution during the 31st Afreximbank Annual Meeting in Nassau, The Bahamas.