This announcement followed a meeting between the global Chief Executive Officer of Standard Chartered Bank and President Bola Tinubu at the State House in Abuja. The meeting's details were shared by Ajuri Ngelale, the Special Adviser to the President on Media.

Mr. Edun commended Standard Chartered Bank as a valuable partner to Nigeria, noting its significant role in financing infrastructure projects, providing guidance on credit ratings, and prudently managing Nigeria’s Eurobond. He also highlighted Moody’s recent positive outlook rating, which came on the heels of the World Bank’s $2.25 billion financing package for Nigeria, as evidence of the positive trajectory of the current administration’s economic reforms.

According to Mr. Edun, "The Bank has indicated interest to finance key infrastructure projects in Nigeria, including the Lagos-Calabar coastal highway, Port Harcourt-Maiduguri rail line rehabilitation, as well as the provision of $3 billion in innovative financing for the NLNG dividend initiative."

He added, "They are also one of our lead managers for Eurobond issuance, and they advise us on our ratings. I am pleased to note that Moody’s has just completed our rating review and maintained Nigeria’s rating as a positive outlook, which is very encouraging."

President Bola Tinubu affirmed Nigeria’s commitment to a balanced approach to energy transition, emphasizing the need for continued investment in the oil and gas sector to meet the country’s energy demands and economic needs. He stressed the importance of a just energy transition that supports vulnerable communities across the nation.

President Tinubu stated, "As friends, we do not expect you to run away from investments in this sector. We face the future prospect while prudently maximising the present."

He further explained, "Green industry and energy, yes. We will surely catch up with that. To run a marathon, you need energy today. Nigeria holds the largest reserves of gas in Africa. We know we can make best use of great opportunities that exist in the sector. We do not want you to back away from fossil fuels."

In conclusion, President Tinubu emphasized, "We must be able to meet our obligations to the vulnerable communities. We are committed to being prudent with our natural resources to bring prosperity to our deserving people."