Nigeria to finance 15 projects through multilateral institutions 

Timothy Choji, Abuja

339

The Presidency says a total of 15 projects spread across the six Geo-political zones of Nigeria, are to be financed with more than $4 billion from multilateral institutions, under the 2018-2021 medium term (rolling) external borrowing plan.

President Muhammadu Buhari had within the week, requested the Senate to approve sovereign loans of $4.054bn and €710million and grant components of $125m for the proposed projects.

According to the letter by the President, “the sovereign loans will be sourced from the World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE).”

The Presidential Spokesman, Garba Shehu gave a list of projects to be executed with the loan facilities in a statement he issued on Saturday.

He also gave a run down of states that would benefit from the projects.

Shehu said: “The President’s request to the Senate listed 15 proposed pipeline projects, the objectives, the implementation period, benefiting States, as well as the implementing Ministries, Departments and Agencies (MDAs).

“A breakdown of the ‘‘Addendum to the Proposed Pipeline Projects for the 2018-2021 Medium Term (rolling) External Borrowing Plan,’’ shows that the World Bank is expected to finance seven projects including the $125m grant for ‘‘Better Education Services for All.’’

Education
Shehu said that facilities would be used to address the problem of out of school children in some States.

The Global Partnership for Education grant is expected to increase equitable access for out-of-school children and improve literacy in focus states,” he said.

Clearing the air on the grants, Shehu explained that it would be implemented by the Federal Ministry of Education and the Universal Basic Education Commission (UBEC) to strengthen accountability for results in basic Education in Katsina, Oyo and Adamawa States.

Other projects to be financed by the World Bank are, the State Fiscal, Transparency, Accountability and Sustainability Programme for Results as well as the Agro-Processing, Productivity, Enhancement and Livelihood Improvement Support Project,” Shehu stated.

 Agriculture
The Presidential Spokesman further stated that the Agricultural Sector would also benefit from the scheme.

The Spokesman said;”the benefiting States for the agro-processing project are, Kogi, Kaduna, Kano, Cross River, Enugu and Lagos with the Federal Ministry of Agriculture and Rural Development as the implementing ministry.”

The objective of the project is to enhance agricultural productivity of small and medium scale farmers and improve value addition along priority value chains in the participating states,” Shehu explained.

 Water Supply
Shehu stressed that part of the loan would also be used to boost water Supply.

He said; “Similarly, the World Bank is also financing the Nigeria Sustainable Water Supply, Sanitation and Hygiene(WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau States, for the next five years.”

According to him, it is expected that the project, when completed, would improve rural water supply, sanitation and nation wide hygiene to achieve Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.

 Health
Shehu said that the health sector would also benefit from the loan.

He explained that Under the external borrowing plan, the World Bank supported projects also include Nigeria’s Covid-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and Nigeria Centre for Disease Control (NCDC).

The project, which has an implementation period of 5 years, will respond to threats posed by Covid-19 through the procurement of vaccines. No fewer than *29* States are listed as beneficiaries of the Agro-Climatic Resilience in Arid Zone Landscape project, which is expected to reduce natural resource management conflicts in dry and semi-arid ecosystems in Nigeria,” he said.

He stressed that”the benefiting States for the project to be co-financed by World Bank and European Investment Bank (EIB) are: Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.”

Shehu explained that the World Bank would fund the Livestock Productivity and Resilience project in no fewer than 19 States and the Federal Capital Territory (FCT).

Roads
Road infrastructure is part of the projects to be implemented with the funds.

Shehu emphasised that the China EXIM Bank was expected to finance the construction of the branch line of Apapa-TinCan Island Port, under the Lagos-Ibadan Railway modernisation project.

The French Development Agency will finance two projects, which include the National Digital Identity Management project and the Kaduna Bus Rapid Transport Project.

“The digital identity project will be co- financed with World Bank and EIB,” he stated.

Empower 100,000 farmers
Shehu said the Value Chain Development Programme to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and Kogi States would empower 100,000 farmers, including over 6,000 and 3,000 processors and traders respectively.

The loan facility to be provided by European ECA/KfW/IPEX/APC will be spent on the construction of the Standard Gauge Rail (SGR) linking Nigeria with Niger Republic from Kano-Katsina-Daura-Jibiya-Maradi with branch to Dutse, “ he further stated.

The Spokesman said that a specific project title, Kano-Maradi SGR with a branch to Dutse, has an implementation period of 30 months and would be implemented by the Federal Ministry of Transport.

Shehu added that the Chinese African Development Fund through the Bank of China is expected to provide a loan facility of $325m for the establishment of three power and renewable energy projects including Solar cells production facility Phase 1 & II , electric power transformer production, Plants 1, II, III and high voltage testing laboratory.

Lateefah Ibrahim

Leave A Reply

Your email address will not be published.

%d bloggers like this: