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 Presidency Lists Projects, Beneficiaries Of External Loan Deals

3 years ago
3 mins read

PREDIDENCY has listed 15 projects spread across six geo-political zones in Nigeria that would be financed with more than $4 billion from multilateral institutions under the 2018-2021 medium term (rolling) external borrowing plan.

President Muhammadu Buhari had last week sent a letter to senate requesting for approval of sovereign loans of $4.054bn and €710million as well as grant components of $125m for the proposed projects.
In the letter which was read by President of the Senate, Ahmed Lawan, before the plenary, Buhari stated that the loans would be sourced from World Bank, French Development Agency (AFD), China-Exim Bank, International Fund for Agricultural Development (IFAD), Credit Suisse Group and Standard Chartered/China Export and Credit (SINOSURE).

In request which was titled, ‘‘Addendum to the Proposed Pipeline Projects for the 2018-2021 Medium Term (rolling) External Borrowing Plan,’’ the President also listed 15 proposed pipeline projects, the objectives, the implementation period, benefiting States, as well as the implementing Ministries, Departments and Agencies (MDAs).

The proposal breakdown shows that World Bank is expected to finance seven projects including the $125million grant for “Better Education Services for All.”
The education grant is expected to increase equitable access for out-of-school children and improve literacy in focus states.

The beneficiary States include Katsina, Oyo and Adamawa while Federal Ministry of Education and Universal Basic Education Commission (UBEC), will implement the project to help strengthen accountability for results in basic Education.

Other projects listed that would be financed by the World Bank are: the State Fiscal, Transparency, Accountability and Sustainability Programme for Results as well as the Agro-Processing, Productivity, Enhancement and Livelihood Improvement Support Project.

For the agro-processing project, the benefiting States are, Kogi, Kaduna, Kano, Cross River, Enugu and Lagos while the Federal Ministry of Agriculture and Rural Development would implement it.

The goal of the project is to boost agricultural productivity of small and medium scale farmers and improve value addition along priority value chains in the participating States.

Also, for the Agro-Climatic Resilience in Arid Zone Landscape project, no fewer than 29 States are listed as beneficiaries. The project is expected to reduce natural resource management conflicts in dry and semi-arid ecosystems in Nigeria.

The benefiting states for the project to be co-financed by World Bank and European Investment Bank (EIB) are: Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, Gombe, Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.

The World Bank is also funding the Livestock Productivity and Resilience project in no fewer than 19 States and the Federal Capital Territory (FCT).

Similarly, the World Bank is also financing the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo and Plateau States, for the next five years.

The project, when completed, is expected to improve rural water supply, sanitation and hygiene nationwide towards achieving Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.

Nigeria’s COVID-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and Nigeria Centre for Disease Control (NCDC) is also included in the World Bank supported projects under the sovereign loan borrowing plan.

The project, which has an implementation period of 5 years, will respond to threats posed by COVID-19 through the procurement of vaccines.

The China EXIM Bank is expected to finance the construction of the branch line of Apapa-TinCan Island Port, under the Lagos-Ibadan Railway modernisation project.

The French Development Agency will finance two projects, which include the National Digital Identity Management project and the Kaduna Bus Rapid Transport Project.

The digital identity project will be co- financed with World Bank and EIB.

The Value Chain Development Programme to be financed by IFAD and implemented in Anambra, Benue, Ebonyi, Niger, Ogun, Taraba, Nasarawa, Enugu and Kogi States will empower 100,000 farmers, including over 6,000 and 3,000 processors and traders respectively.

The loan facility to be provided by European ECA/KfW/IPEX/APC will be spent on the construction of the Standard Gauge Rail (SGR) linking Nigeria with Niger Republic from Kano-Katsina-Daura-Jibiya-Maradi with branch to Dutse.

The specific project title, Kano-Maradi SGR with a branch to Dutse, has an implementation period of 30 months and will be implemented by the Federal Ministry of Transport.

The Chinese African Development Fund through the Bank of China is expected to provide a loan facility of $325 million for the establishment of three power and renewable energy projects including solar cells production facility Phase 1 & II , electric power transformer production, Plants 1, II, III and high voltage testing laboratory.

The National Agency for Science and Engineering Infrastructure (NASENI) will implement the project aimed at increasing local capacity and capability in the development of power and renewable energy technologies and infrastructure.

CreditSuisse will finance major industrialisation projects as well as micro, small and medium enterprises schemes to be executed by the Bank of Industry while SINOSURE and Standard Chartered Bank will provide funds for the provision of 17MW Hybrid Solar Power infrastructure for the National Assembly (NASS) complex.

The project, with an implementation period of five years, is expected to address ‘‘NASS power supply deficit and reduce higher overhead burdensome cost of running and maintaining fossil fuel generators (25MW installed capacity) to power the assembly complex

Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.


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