Nigeria to sign $3.3bn loan agreement for 10 projects
― Minister

…’FG building 958 bridges, road projects’ ― Fashola

The Minister of Finance, Budget and National Planning, Dr. Zainab Ahmed, has said that the country is currently awaiting consensus for it to sign a $3.387 billion loan Agreement to execute 10 projects across the country.

The Minister said this at a Town Hall Meeting on the achievements of the Federal Government in Infrastructure Development, organised by the Ministry of Information and Culture.

She said the present administration has successfully implemented a range of infrastructure programmes that have had a positive impact on the lives and livelihoods of the citizenry.

The Minister said the administration has continued to prioritise spending on infrastructure and human capital to catalyze rapid economic development. According to her, “In 2022 alone, we plan to spend about N1.42 trillion on infrastructure and N2.11 trillion on human capital development”.

She listed projects awaiting consensus before signing of the loan agreement to include, Kano Urban Light Rail project- (Phase I): US$673.2 million; Construction Of Lafia By-Pass Road and the dualisation of 9th Mile (Enugu)-Otukpo-Makurdi Road project: US$845.75 million; E-Border Solution: US$175.5 million.

Others are to be funded by World Bank include Nigeria Electrification project (Off-Grid): US$350 million; North Core Interconnection Power Transmission Line (Regional project under West African Power Pool): US$32.3 million; Nigeria Electricity Transmission and Access project: US$486 million; Nigeria Electrification project: US$200 million; Nigeria Transmission and Expansion Program: US$210 million, to be funded by the African Development Bank.

The Minister said there are a lot of projects on-going that were funded by an external loan; the projects, according to her, are the US$984.32 million Zungeru Hydropower Plant Project; US$1.26 billion Lagos – Ibadan Railway project.

Others are US$460.82 million Upgrading And Rehabilitation Of Keffi-Akwanga—Lafia Road project; US$164.91 million Supply Of Rolling Stock And Depot Equipment For Abuja Light Rail Phase-1 project; US$328 million NICTIB Phase II (Galaxy Backbone), US$208.91 million Four Airports Terminal Expansion project Phase-II, and US$183.62 million Ancillary Works on Four Airports Terminal Expansion.

She further said 18 roads funded under the Sukuk include, Oju/Loko-Oweto bridge over River Benue to link Loko (Nasarawa State) and Oweto (Benue state) along the route, Dualisation of the following roads, Abuja-Abaji-Lokoja road Section-I (International Airport link road junction – Sheda village).

Others are “Suleja-Minna road, in Niger State phase, Abuja-Abaji-Lokoja road: Section IV Koton Karfe-Lokoja, in Kogi State, Lokoja- Benin road: Obajana-Okene, in Kogi State, Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe States.

The others are: “Ibadan-Ilorin road. Section II: Oyo- Ogbomosho road, in Oyo III. Kano- Maiduguri Road linking Kano-Jigawa- Bauchi-Yobe and Borno States; Section-I (Kano-Wudil-Shuari) in Kano, Kano-Katsina road Phase-I; Kano town, at Dawanau roundabout to Katsina border in Kano; Construction of Kano western bypass as an extension of dualisation of Kano-Maiduguri road section; Construction of Kaduna Eastern bypass, amongst others.

The Minister of Information and Culture, Lai Mohammed, in his welcome address, said the Town Hall Meeting was aimed to showcase the achievements of the administration of President Muhammadu Buhari, as it gradually winds up.

Related news

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.