FG gives nod to Bill & Melinda Gates foundation to pay Japan $76m polio facility

Nigeria's government has authorised  Bill and Melinda Gates foundation to pay on her behalf,  the  $76 million polio eradication facility to Japan.
Prepayment nod was given to Bill and Melinda Gates foundation following the eradication of polio in the country as a result of the ODA facility provided by the Japanese government valued at $76 million in 2014.
Minister of finance Mrs Kemi Adeosun confirmed loan payment yesterday in  Abuja  when she received a delegation of Japanese House of Councillors Parliamentarians who were in the country,  to "research" the level of the usage of the Overseas Development Assistance (ODAs) extended to Nigeria since 2014.
The ODA facility was structured for repayment after four years.
By this development, Bill and Melli da Gates Foundation will start repaying the facility to Japan this year.
Finance Minister was elated saying   the structure of the transaction was favourable to Nigeria , as according to her,  after four years Nigeria can ask Bill and Melli da Gates foundation to trigger payment of the polio eradication facility.
Adeosun used the occasion to brief Japanese delegation various reforms in economy, stressing that,  "Nigeria economy is fast growing and evolving from negative areas to positive areas through its determined fight against corruption and the desire of the current administration to lift Nigerians out of poverty."
She added that   Nigerian economy is going to transform in the coming years and will like to deepen relations with Japanese companies some of which were in the country last year.
She added that,  "because Nigeria is a middle income country we will require the expertise of Japanese companies for infrastructure development."
She assured the delegation that Nigeria is a good place to invest because Nigeria is a rising investment destination and promised that the government will make life easy for Japanese investors wishing to do business in Nigeria.
In his address, the leader of the delegation, Mr Kiyoshi Ejima described Nigeria as a power house with rich natural resources with which Japan has tried to strengthen relationship with.
Nigeria he said has set the target of becoming one of the top 20 economies by the year 2020 and he assured that "Japan will support Nigeria towards realizing its 2020 target.

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