ABUJA — Funding of the Niger Delta Development Commission has been bouyed by the Afrcan Development Bank (ADB) with a grant of $2.5 million.
Agreement for the grant which would enable the commission undertake a study on environmental and social management system for the development of the Niger Delta area was signed between the Bank and the Federal Government in Abuja, yesterday.
The Bank’s Secretary-General, Cheikh Ibrahim Fall signed on behalf of the Bank, while the Finance Minister Dr. Ngozi Okonjo-Iweala signed on behalf of the Federal Government.
The grant is for the establishment of an environmental information management system (EIMS), the development of an Environmental and Social Management Action Plan (ESMAP), and the dentification of at least two viable development projects to address environmental and social issues in the region.
Vice President of the Bank for West and Central Regional Operations, Bisi Ogunjobi, at the signing ceremony pointed out environmental fragility of the Delta region and stressed the importance to effective policy and decision making, of collecting, analyzing and disseminating environmental related information.
He said the bank’s support was in line with the reform agenda of the Nigerian government as contained in the National Economic Empowerment Development Strategy (NEEDS).
He told the Minister that the Bank would continue to support the government’s efforts to operationalise the four- pronged NEEDS strategy that sought to reform government and its institutions, grow the private sector, implement a social charter and re-orientate national value systems.
At the completion of the portfolio review of ADB projects in Nigeria, some of them which were considered to be at variance with the National Economic Empowerment and Development Strategy (NEEDS) were cancelled.
The regional bank approved some new projects in areas considered crucial to the success of NEEDS such as agriculture and rural development, health and education, water and sanitation, as well as energy.
The Bank approved two agricultural loans worth over $51 million to improve productivity and rural livelihoods in the country.
In all, projects worth $33 million for the financing of four projects in regional power, agriculture, water and railway infrastructure, were recently approved by the Bank for Nigeria.
