Nigeria has infrastructural need for economic transformation - Sambo

Nigerian Vice President, Namadi Sambo recieving Mr. Irfan Bukhari.

Nigeria has infrastructural need for economic transformation - Sambo
Lawan Hamidu-Abuja

Nigeria’s Vice President, Namadi Sambo, says government’s priority is to develop Nigeria’s infrastructure and enhance economic transformation.

Sambo made this known when he received the Divisional Manager in charge of Public Private Partnership of the Islamic Development Bank, Mr Irfan Bukhari in Abuja on Wednesday.

The Vice President, who stated that Power and Agriculture remains the key priorities, expressed the determination of the government to address them squarely.

Investment opportunities

He said: “Government is anxious to commence the Zungeru Hydro Power project since all documentations are ready except putting final touches with the Bank. China EXIM Bank and Islamic Development Bank IDB are funding the project to which the Nigerian government had already provided its counterpart funding of USD 500m”.

Vice President Sambo urged the bank to look into the Mambilla Hydro Power project which he noted was another important project whose documentation would be completed by the 2nd quarter of 2012 and contract should be awarded by the 3rd quarter of the same year. 

The Vice President further stated that some dams had been selected to accommodate small and medium Hydro Power plants while others were for irrigation schemes. 

“Nigeria has more of such Dams needing resources from IDB to address them. Therefore the Ministry for Water Resources should look into ways and means to facilitate funding from the bank for them.” Sambo noted.

He advised Nigeria’s entrepreneurs to take advantage of the IDB facility since the bank was interested in funding the private sector under the Public Private Partnership in Nigeria.  

Earlier, Mr Irfan Bukhari, who said their visit was to identify projects they could finance in the future, indicated the bank’s interest in infrastructure and Agriculture.   

Williams