In a landmark move aimed at bolstering socio-economic development, the Niger State Government has sealed a substantial $114 million Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development (EBID) during the ECOWAS Investment Forum (EIF) held in Lomé, Togo on April 4-5, 2024.
Under this strategic partnership, the Niger State Government will utilize the funds to finance four critical projects across various sectors, signaling a pivotal step towards enhancing infrastructure and economic prospects in the region.
The financed projects encompass a diverse range of initiatives:
Madalla-Suleja-Maje Dual Carriage Road ($30 million): This substantial investment will facilitate improved transportation infrastructure, enhancing connectivity within and beyond the state.
Madalla Green Economic Market ($11 million): The construction of this market aims to stimulate economic activities, particularly in the agricultural sector, fostering growth and sustainability.
Conversion of Former Secretariat into School of Medical and Health Sciences ($40 million): This transformative endeavor will bolster the healthcare sector, offering advanced education and facilities for medical professionals.
Construction of Eight International Trailer Parks ($43 million): These parks strategically located across Makwa, Tafa, Lambatta, Bida, Makera, Dikko, Tagina, and Kontagora will bolster logistics and trade, fostering economic vibrancy and efficiency.
The Niger State delegation, led by Commissioner of Finance Lawal Adamu Maikano and Sammy Adigun, Chairman of Niger Foods, finalized the MoU with prominent figures from EBID including Dr. Olagunju M. Olalekan ASHIMOLOWO (Vice-President of Operations), George Agyekum DONKOR, PhD, DBA (President and Chairman of the Board of Directors), and Dr. Mory SOUMAHORO (Vice-President of Risks and Control).
This significant investment underscores the commitment of Niger State towards transformative development, aligning with Governor Umaru Mohammed Bago’s ambitious vision for a “New Niger.” By leveraging these funds, the state aims to catalyze job creation, upgrade critical infrastructure, and accelerate its overall development trajectory.
EBID, an instrumental partner in regional economic cooperation, supports the development aspirations of West African nations. With its mandate to promote integration and economic growth, EBID’s collaboration with Niger State exemplifies the collective efforts towards realizing sustainable development goals across the ECOWAS region.