The Nigerian government is to launch a $10 billion infrastructure rebirth programme in the Niger-Delta region of the country.
Minister of State for Petroleum, Dr Ibe Kachikwu, stated this at a press conference, shortly after the launch of the Big7 programme of the ministry, at the Presidential Villa, Abuja.
According to Dr Ibe Kachikwu, the Big7 programme launched by President Muhammadu Buhari outlines short and medium term priorities that will help grow Nigeria’s oil and gas industry.
He said the $10 billion infrastructural rebirth programme would be funded by government in collaboration with oil companies and international organisations.
“This money is not going to come from the federal government alone, it will come from oil companies, individuals who are ready to do private infrastructure investment, obviously federal and state governments and international organisations that have shown some interest to help,” he said.
The Minister said in recognition of the role oil has, and is still playing in the socio-economic development of Nigeria; all citizens of the country have a role to play in managing the oil sector.
“Really we are all stakeholders in the petroleum management of this country. Every Nigerian is very dependent on the oil sector. It’s no longer the business of just the oil industry, the NNPC or the ministry. It is the business of every citizen of the country to see that we are transparent in what we do,” Dr Kachikwu stated.
The Minister announced that a specialized security fund would soon be launched to help secure pipelines in the Niger-Delta region.