According to the statement, Douye Diri, Bayelsa state governor, and Caleb Muftwang, his Plateau counterpart, signed the deal at the event held on June 28 in Lisbon, Portugal
The Plateau and Bayelsa state governments have signed a memorandum of understanding (MoU) to collaborate in the power, renewable energy, and agricultural products sectors.
The MoU, signed at the Foreign Investment Network (FIN) annual international business roundtable and Forbes Best of Africa Award ceremony, was announced on Monday.
According to the statement, Douye Diri, Bayelsa state governor, and Caleb Muftwang, his Plateau counterpart, signed the deal at the event held on June 28 in Lisbon, Portugal. The agreement aims to enhance positive growth in their respective states.
The MoU includes an investment commitment by Baymat Energy and the Africa Energy Council (AEC) for hydropower, solar, and gas projects, with the goal of creating jobs and alleviating poverty.
“It is instructive to note that Diri signed the MoU on behalf of Bayelsa State Government and Faction AI represented by co founder Max Garza III – Faction AI Smart City for $1billion while Muftwang signed on behalf of Plateau State Government and Faction AI -represented by co founder Max Garza III – Faction AI Smart City for $1billion,” the statement reads.
Muftwang and Diri also signed an agreement for a CTO Council youth training worth $5 million, the statement said.
CTO Council is an American-registered company which specialises in technology training and assisting applicants in securing tech employment abroad.
In addition, the two subnational governments signed an MOU with Umoja Kingdom Estates LLC, “for Purchase Guarantee to buy Fruits and Vegetables from Bayelsa State for $10 million”.
Spire Inc, a USA company, was said to have signed a $100 million investment for agricultural investment.
The statement noted that Chinnan Maclean-Dikwal announced a $200 million investment in solar power in Bayelsa and Plateau states, respectively.
In her keynote address at the event, Olayinka Fayomi, chairman of FIN, emphasised the network’s dedication to fostering global trade, knowledge-sharing, and sustainable business practices.
The chairman encouraged attendees to leverage the platform for networking and building connections, stating FIN’s role in unlocking Africa’s potential.
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