“Ex-Im Bank views Nigeria as a significant and promising market, and our support is part and parcel of a larger US government commitment to Nigeria and Sub-Saharan Africa,” says Ex-Im Bank board member Joe Grandmaison, who just returned from Nigeria and several other African nations on a two-week trade mission. “Since Ex-Im Bank reopened in Nigeria in 1999, we have backed some 50 transactions, big and small, worth nearly a quarter billion dollars.”
The buyer, Marina International Bank Limited of Lagos, Nigeria, is purchasing the equipment on behalf of its borrower, Sub-Urban Telecoms Limited of Abuja, Nigeria, which in turn is leasing the equipment to MTN Nigeria Communications Limited. The guaranteed lender is First International Bank.
“This sale, using Ex-Im Bank financing, was a major milestone for ViaSat,” says Tony Wilkey, director of business development for ViaSat. “We provided three turnkey satellite earth stations in Lagos, Port Harcourt and Jos for our customer, which enabled one of the primary, local mobile service providers to greatly enhance local wireless phone capabilities.”
Other recent Ex-Im-financed exports to Nigeria have ranged from solar-powered billboards and printing equipment to construction equipment for the Kampe River irrigation project and equipment to expand Nigeria’s liquid natural gas production.