The Niger State Government has signed a $144 million Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development to finance four priority projects in various socio-economic sectors in the state.
The MoU was signed at the ECOWAS Investment Forum held in Lome, the capital city of Togo.
The Commissioner for Finance, Lawal Adamu Maikano, and the Chairman, Niger Foods, Sammy Adigun, signed for the Niger State Government, while the Vice President of Operations, ECOWAS Bank of Development and Investment, Dr. Olagunju Olalekan, the President and Chairman of the Board of Directors, George Agyekum Donkor, as well as the Vice President of Risks and Control, Dr. Mory Soumahoro, all signed for the ECOWAS Bank for Investment and Development.
According to the MoU, projects to be financed include the construction of the Madalla-Suleja-Maje dual carriage road for $30 million, the construction of the Madalla Green Economic Market for $11 million, and the conversion of the old Secretariat Minna to the School of Medical and Health Sciences for S40 million. Others are the construction of eight international trailer parks in Mokwa, Tafa, Lambatta, Bida, Makera, Dikko, Tegina, and Kontagora at a cost of $43 million.
The agreement, according to the Chief Press Secretary to the Governor of Niger State, Mal. Bologi Ibrahim, would not only complement the ongoing infrastructural transformation in the state but would also create new windows for investments and job opportunities for the teeming youth population.
The ECOWAS Bank of Investment and Development was established to promote the cooperation and economic development of West African countries. It currently comprises fifteen (15) member states, including Nigeria.