Niger, ECOWAS Bank Sign MoU to Finance Important Projects

The Niger State Government has signed a Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development, to finance four priority projects totaling $114 million in various socio-economic sectors.

At the occasion of the ECOWAS Investment Forum (EIF) that took place between April 4 and 5, 2024, in Lome, Togo, the Niger State Government signed the MoU with the ECOWAS Bank for Investment and Development.

The projects to be financed include the construction of the Madalla-Suleja -Maje dual carriage road ($30m), the construction of Madalla Green Economic Market ($11m), the construction/conversion of the former secretariat into School of Medical and Health Sciences(S40 m) and the construction of eight International truck-trailer parks in Makwa, Tapa, Lambatta, Bida, Makera, Dikko, Tagina and Kontagora ($43m).

The Niger State Government was represented by the state Commissioner for Finance, Lawal Adamu Maikano, and Sammy Adigun, chairman of Niger Foods. Representing ECOWAS Bank of Development and Investment were Dr. Olagunju M. Olalekan Ashimolowo Vice-President of Operations; George Agyekum Donkor, President and Chairman of the Board of Directors, and Dr. Mory Soumahoro, Vice-President of Risks and Control at EBID.

The commissioner said: “This is part of a significant effort to streamline the ongoing transformation of the state by opening up new opportunities for investment promotion in the region, accelerate the infrastructure advancement in the state which will create more job opportunities, improve the health sector and bring the ‘New Niger’ agenda of the state Governor, Umaru Bago, to fruition in a timely manner.

EBID is a bank established to promote cooperation, integration and economic development of West African countries that currently comprises 15 member states including Benin, Burkina Faso, Cape Verde, Cote d’Ivoire, The Gambia, Ghana, Guinea, Guinea Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leane and Togo.