By Daniel Obaje/Mukhtar Dambatta
The Federal Government says an Indian firm and two worldwide businesses are involved in investing in infrastructure growth throughout regional growth commissions.
The Minister of State for Regional Development, Uba Ahmadu, disclosed this in an interview with the News Agency of Nigeria (NAN) on Sunday in Abuja.
Ahmadu mentioned the ministry had established working preparations with the three potential buyers and was discussing a Memorandum of Understanding (MoU) to formalise the partnerships.
“We have one with an Indian company, and two other international agencies with which we sat and had serious discussions.
“They are interested in investing in the infrastructure sector in the commissions,” he mentioned.
The minister mentioned discussions with the possible buyers adopted engagements with worldwide donor businesses and enterprise organisations through the 2026 United Nations General Assembly in New York.
He mentioned the ministry was exploring a number of funding alternatives, together with the proposed North-East Regional Airline, North-East Rail Project and a regional energy firm.
Ahmadu mentioned the regional airline was among the many tasks mentioned with buyers in New York, following an settlement by North-East governors at a latest assembly in Maiduguri.
He mentioned the proposed North-East Power Company would generate 40 megawatts of electrical energy from Kiri Dam in Adamawa and provide it to the nationwide grid.
“The idea is to generate revenue for the commission and add to the grid, thereby extending availability of electricity for the people,” he mentioned.
Ahmadu mentioned discussions with buyers on the ability challenge had been at a complicated stage, describing electrical energy technology as a key funding alternative for the area.
He urged Nigerian buyers to discover obtainable alternatives within the regional growth commissions slightly than leaving funding initiatives solely to international companions.
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The minister additionally recognized thermal power as one other viable funding space, noting that such tasks may generate important income for the commissions.
He defined that the commissions wouldn’t immediately interact in industrial actions however would create an enabling atmosphere for personal sector funding.
According to him, the strategy is designed to generate further income and strengthen the monetary capability of the commissions to execute their growth mandates.
Ahmadu mentioned investment-generated income would assist maintain the commissions’ actions, notably when funds from their anticipated sources had been inadequate.
He mentioned the ministry was proactively pursuing funding alternatives to put the commissions on a stronger monetary footing and guarantee continued infrastructure growth throughout their respective areas.(NAN)
Edited by Rotimi Ijikanmi
