News Column

Niger to Access N39 Billion IDB Loan

August 31, 2014

Chinwendu Nnadozie

The Niger State Government is poised to access a N39b loan from the Islamic Developmental Bank (IDB) for the dualisation of 100-kilometre Bida Road project.

State Commissioner for Works and Infrastructure, Alhaji MuÁzu Mohammed Bawa, disclosed this while speaking to journalists on the outcome of the State Executive Council (SEC) meeting at Government House, Minna.

The commissioner explained that the state government has been negotiating with the IDB for the past three years on three major projects to be financed by the bank.

According to him, the state government had approached the IDB on the financing of a Bi-lingual Bentre, dualisation of Minna-Bida Road and agricultural extension services.

Bawa noted that after exhaustive deliberations, the bank accepted to finance the Bilingual Centre and the dualisation project but rejected the agricultural extension services.

The commissioner further disclosed that the Federal Government and the IDB would finalise some technical areas regarding the facilities, which, according to him, are repayable in 25 years.

According to the commissioner, "All things being equal, the technical issues will be resolved between the Federal Government, the IDB and the state government by September for the release of funds".

The Works and Infrastructural Development Commissioner said the sum of N19 billion has also been approved by the IDB for the construction of a Bilingual Centre in Minna, the state capital, which is scheduled for completion before the expiration of the present administration.

He assured the people of the state that the state government would make judicious use of the funds as soon as they are released by the bank.

"This government is committed towards developing all sectors of the state economy by ensuring it emerged among the three top economies".

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Source: AllAfrica

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