Sunday, August 04, 2013

Islamic Bank To Assist Nigeria On Infrastructural Projects, Economy

By George Agba
Leadership Nigeria
August 4, 2013

Vice-President Namadi Sambo has called on the Islamic Development Bank (IDB) to support projects that cut across the African continent, while still supporting the Nigerian economy.    
The vice president made the call in his Royal Guest Palace, Makkah, Saudi Arabia when he received the President of the Islamic Development Bank, Dr. Ahmed Mohammed Ali, who paid him a courtesy visit. 
Expressing appreciation for the continued support and cooperation of the  IDB to Nigeria, Sambo said that all the approvals granted by the Bank over the years had received the ratification by the National Assembly and the Federal Executive Council  (FEC).
           
The vice president, who called on the bank to consider the construction of a road linking Lagos to Abidjan in the Republic of Côte d'ivoir,  also requested them to extend their support to the Nigerian private sector in the areas of education, aviation , agriculture, while calling on them to partner states in public private partnership (PPP) projects in the execution of priority projects.
Sambo noted the progress made by government   in the power sector,  construction and expansion of deep seaports, especially those of Lekki and Ibaka, as well as the development of the Aluminum Smelter Company, where he stated that efforts were being geared towards ensuring the participation of investors in the mining sector . 
On the gateway office, the vice president promised that the finalisation agreement would soon be sorted out, even as he further said that for the progress being made in the power sector to be meaningful more funds needed to be injected into the transmission component .
He said that Nigeria would need about $450 million from the Bank to expand transmission to wheel up to 20,000 megawatts of electricity. 
In his response, the President of IDB,  Dr. Ahmed Mohammed Ali,  said the purpose of his visit was to use the occasion to give a push to the Nigeria-IDB cooperation.

He said that the  Bank  has approved three out of the five projects submitted from Nigeria. They include construction of four new science secondary schools in Kaduna  State, worth $17,9m, construction of 300 bed specialist hospital  in Kaduna State at $43.15m and the Zaria water supply project worth  $81.0m. 
He explained that the Jigawa State rural development project put at $32.40m and the bilingual education programme for Borno , Gombe and Niger States worth $30.53m were under consideration.
- See more at: http://leadership.ng/news/040813/islamic-bank-assist-nigeria-infrastructural-projects-economy#sthash.NFZKQIcf.dpuf
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