Dr. Bandar Hajjar, President of the Islamic Development Bank Group, discussed in his office at the IDB headquarters in Jeddah with Mr. David Nweze Umahi, Governor of the Nigerian state of Ebonyi, and his accompanying delegation the program for paving a number of roads that link production areas with consumption areas and help the state further its developmental priorities and invest its natural resources.
During the meeting, the growing relations between IDB and the Federal Republic of Nigeria were also discussed. The Governor presented the IDB President with an explanation of development efforts in the Federal Republic of Nigeria and the efforts exerted to promote economic development in the Ebonyi State, which are geared towards combating poverty, providing job opportunities, boosting investment, and making optimum use of the natural resources with which the state was endowed.
Mr. Umahi commended the IDBG President’s 5-year Program and said that it will expand IDB’s role and provide Africa and Nigeria with greater opportunities to benefit from the services provided by IDB towards achieving development, in addition to enhancing cooperation and partnership between IDB and the member countries. With regards to road projects, Mr. Umahi said that they are looking forward to receiving help from IDB in supporting the reconstruction of the road network, with a total length of
199 kilometers, with a view to reinforce the state’s program to combat poverty and unemployment, provide job opportunities, revitalize the agricultural sector, link farmers to markets, and reduce the costs incurred by producers and consumers.
On his part, the President of IDBG emphasized its keenness on supporting economic development in Nigeria by enhancing the partnership between both sides, supporting the investment movement, and promoting public-private partnerships. He also stressed the importance of addressing all the obstacles that cause delays in project implementation, particularly road projects, such as obstacles related to land ownership, compensation, and the like, so that both parties can implement the projects in a
timely manner.
It is noteworthy that cooperation between IDBG and Nigeria is increasing steadily. IDBG has approved a total amount of US$ 1 billion to support socioeconomic development in Nigeria. This includes project financing operations from IDB worth US$ 432.3 million, and trade financing and ICD operations totalling US$ 576 million. Cumulatively, ICIEC has approved since its inception US$ 323.6 for Nigeria, including US$ 275.5 for imports to Nigeria and US$ 48.2 million for investment insurance
operations.