Nigeria To Sign $3.3bn Loan Agreement For 10 Projects — Finance Minister

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.

“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 Dualization 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.

And Abuja Power Feeding Transmission Scheme: US$170 million, Northern Corridor Transmission Line: US$245 million to be funded by the French Development Bank.

The Minister said there are a lot of projects ongoing which were funded by an external loan, the projects according to her are 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 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 g. Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section III (Azare- Potiskum) in Bauchi.

“Kano- Maiduguri Road linking Kano-Jigawa- Bauchi-Yobe and Borno states. Section IV (Potiskum-Damaturu road) in Yobe, Kano-Maiduguri road linking Kano-Jigawa-Bauchi-Yobe and Borno states. Section V (Damaturu- Maiduguri). Yenegwe road junction-Kolo- Otuoke-Bayelsa palm in Bayelsa.

“Lokoja-Benin road: Obajana junction-Benin section II phase I: Okene-Auchi, Kogi/Edo states, Lokoja-Benin road: Obajana junction-Benin section III phase I: Auchi-Ehor in Edo. Lokoja-Benin road: Obajana junction- Benin section IV phase I: Ehor-Benin city, Edo State.

“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. Rehabilitation of the following roads: Outstanding section of Onitsha-Enugu expressway Amansea-Enugu border Enugu-Port Harcourt dual carriage section I: Lokpanta- Umuahia in Abia Enugu-Port Harcourt dual carriage section II Umuahia tower-Aba township rail, Enugu-Port Harcourt road section III: Enugu- Lokpanta.

“Enugu-Port Harcourt road section IV: Aba-Port Harcourt in Rivers, Reconstruction and asphalt overlay of Benin-Ofosu-Ore- Ajebandele-Shagamu dual carriageway phase, Reconstruction of an outstanding section of sections of Benin-Ofusu-Ore- Ajebandele-Shagamu dual carriageway phase II.

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

“Other Town Hall Meetings scheduled for this year will focus on the Administration’s strides in the area of the National Social Investment Programme; fight against corruption; insecurity; national unity and the economy, among others,” he noted.

The Minister of Works and Housing, Babatunde Fashola during his presentation, said the government is managing over 1,019 contracts involving 958 bridges and road projects.

The Minister said the Federal Government is constructing houses in 34 states of the federation and a new Federal Secretariat in Anambra, Nasarawa, Bayelsa, Zamfara, Osun and Ekiti.