Bayelsa State Governor Duoye Diri and Plateau State Governor Caleb Muftwang have signed a Memorandum of Understanding (MoU) focusing on electricity, renewable energy, gas, and agricultural products.
The agreement was finalized recently in Lisbon, Portugal, during the Foreign Investment Network (FIN) Annual International Business Round Table and the Forbes Best of Africa Award Ceremony, which celebrates outstanding leaders. This MoU aims to drive positive growth and change in both states.
The MoU will facilitate investments from Baymat Energy and the Africa Energy Council in both states, providing hydro, solar, and gas power to create jobs and alleviate poverty.
In a statement released on Sunday, it was noted that Diri and Muftwang signed the MoU on behalf of their states, with Faction AI co-founder Max Garza III representing Faction AI Smart City for a $1 billion investment.
Additionally, other agreements were signed, including a $200 million solar power investment by ChinnanMclean-Dikwal in both Plateau and Bayelsa, and a partnership between Baymat International and the Africa Energy Council.
The event also included the presentation of the FIN-Forbes Best of Africa Awards to the two governors and four other African leaders. Governor Muftwang received the Forbes Best of Africa Visionary Leadership Award, while Governor Diri was honored with the Forbes Best of Africa Outstanding Leadership Award.
In a statement from FIN’s Director of Investment, Promotion, and Strategy, Kenneth Beregha, the awards were attributed to the recipients’ exceptional leadership, vision, and dedication to their fields, which have inspired positive change and growth across the continent.
In her keynote address, Foreign Investment Network Chairman Mrs. Olayinka Fayomi encouraged attendees to use the platform for networking and building connections, emphasizing FIN’s role in unlocking Africa’s potential.
