Niger Delta states secure $200m World Bank loans to create jobs

Four Niger Delta states have accessed $200 million loans and another $78.4 million grant from the European Union to create jobs.

Minister of State for Budget and National Planning, Prince Clem Ikanade Agba, said his ministry facilitated the loans.

The funds were released to Bayelsa, Delta, Edo and Rivers states under the State Employment and Expenditure for Results (SEEFOR) Project.

Agba said: “The Project involved a concessionary interest-free loan of US$200 million from the World Bank with a grant element of about US$78.4 million from the European Union.

“It was aimed at enhancing opportunities for employment and access to socio-economic services, while improving public expenditure management systems in the participating States.

“The State Employment and Expenditure for Results (SEEFOR) Project (2014-2020) actually began before the inception of our administration but ended two years after I was appointed Minister of State for Budget and National Planning.

“SEEFOR was a World Bank-funded Project in partnership with the European Union (EU), designed for four (4) Niger Delta States of Bayelsa, Delta, Edo and Rivers.”

On the National Development Plan (NDP), Prince Agba said the Federal Government was considering “Legislative imperatives of the NDP 2021-2025 to ensure continuity of the plan and remove the binding constraints militating against the private sector participation”.

The proposed new laws he said “contains 18 laws and 10 policies and a committee is currently working with a legal firm on this”.
(The Nation)

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.