Saturday, May 18, 2024

Senate Report: How $22.7b loan will be used

The Senate on Thursday gave a breakdown of how the $22.7 billion loan approved for the Federal Government will be used.

It is as follows:

Rural water supply and sanitation – $150,000,000 (Taraba, Borno, Yobe and Gombe); Agriculture, Transformation Agenda Support Project – $200,000,000 (Nationwide); Staple Crops Processing Zone Projects – $500,000,000 (Nationwide); Institutional Strengthening and implementation of policy reforms – $33,750,000 (domiciled at the Federal Ministry of Works and Housing); Emergency Road Rehabilitation and maintenance – $434,700,000 (Federal Ministry of Transportation); Development Finance Project -$450,000,000 (Federal Ministry of Finance); Lake Chad Basin Commission – $13,000,000 (Nigeria, Chad, Niger, Cameroon Libya and Central African Republic).

Power Sector: Nigeria Electricity Transmission and Access Project, Power Transmission Project, TCN overall Transmission system enhancement project, vocational training in the power sector and Mambila Hydro Electricity Power Project – $5,614,000,000; Ministry of Communication and Digital Economy: National Information and Communication Technology Infrastructural Backbone by Galaxy Backbone (Phase II) – $328,108,731.


Education Sector: Education Sector Reform Programme renamed Batter Eduation Service Delivery for All – $500,000,000.

Ministry of Niger Delta Affairs: East West Road Project – $800,000,000.

Information and Culture Ministry: NTA Digitization Project – $500,000,000.

Mines and Steel Sector: Development of the Mining Industry Project – $150,000,000.

Federal Capital Territory: Greater Abuja Water Project – $381,095,037 and Abuja Mass Rail Project – $1,252,293,005


Transportation Sector: Lagos-Kano Railway Modernisation Project (Ibadan-Kano Segment Double Track) – $5,530,000,000; Railway Modernisation Coastal Railway Project (Calabar-Port Harcourt-Onne Deep Sea Port Segment – $3,474,000,000.

Ministry of Health: Regional Disease Surveillance System Enhancement (REDISSE) Project in West Africa – $90,000,000.

Ministry of Humanitarian, Disaster Management and Social Development: Social inclusion and welfare advancement project (now National Social Safety Net Project) – $800,000,000.

Katsina State: Health System Projects – $110,000,000.

North East Nigeria Integrated Social Protection, Basic Health, Education, Nutrition Services and Livelihood Restoration Project – $100,000,000.

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