Business
Niger State To Get $114M From ECOWAS Bank To Finance Four Projects
MoU was signed at the ECOWAS Investment Forum
Niger State Government has signed a Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development to finance four priority projects in various socio-economic sectors to the tune of $114 million.
The MoU was signed at the ECOWAS Investment Forum held in Lome, the Capital of Togo.
The Commissioner for Finance, Lawal Adamu Maikano, and the Chairman, Niger Foods, Sammy Adigun signed for the Niger State Government while the Vice President of Operations, ECOWAS Bank of Development and Investment, Dr Olagunju Olalekan, the President and Chairman of the Board of Directors, George Agyekum Donkor as well as the Vice President Risks and Control, Dr Mory Soumahoro all signed for the ECOWAS Bank for Investment and Development.
According to the MoU, projects to be financed include the Construction of the Madalla-Suleja -Maje dual carriage road for $30m, the Construction of the Madalla Green Economic Market for $11m and the conversion of the old Secretariat Minna to the School of Medical and Health Sciences for S40m.
Others are the Construction of 8 International Trailer Parks in Mokwa, Tafa, Lambatta, Bida, Makera, Dikko, Tegina and Kontagora at the cost of $43m.
The agreement would not only complement the ongoing infrastructural transformation in the State, but would also create new windows for investments, and job opportunities for the teeming youth population.
The ECOWAS Bank of Investment and Development was established to promote cooperation and economic development of West African countries that currently comprises fifteen (15) Member States including Nigeria.
Credit: Bologi Ibrahim, Chief Press Secretary to the Governor of Niger State -06/04/2024
