July 23, 2024

President Buhari seeks Islamic Bank’s intervention for power sector infrastructure


… says Nigeria is struggling very hard on infrastructure

Oredola Adeola

President Muhammadu Buhari has appealed for greater cooperation from Islamic Development Bank(IDB) for the development of power and other critical infrastructure, saying Nigeria is struggling very hard on infrastructure.

He made this appeal, on Thursday, when he met with Dr. Mohammed Al-Jasser, President of IDB, at the sidelines of the Paris Peace Forum.

This was contained in a statement released by Femi Adesina, Special Adviser to the President, Media and Publicity, obtained by EnergyDay.

Giving further details of the need for development in the power sector and other critical areas of the economy, President Buhari explained that his administration was committed to an infrastructure renaissance for Nigeria.

He said, “We are struggling very hard on infrastructure, because there can’t be sustainable development without it,” the President said.

“Considering the vastness of our country, we need roads, rail, power, airports, housing, and that is what we have engaged ourselves with in the past six years. And our people are seeing the new developments. Relative to the resources available to us, we have not done badly. When infrastructure is in place, our people can look after themselves.”

The Board of Executive Directors of the Islamic Development Bank (IsDB) in September, at its 341st meeting on the sidelines of the IsDB Group Board of Governors’ 2021 Annual Meetings underway in Tashkent, Uzbekistan approved US$ 86.64 million to the Federal Government for Upgrading of Minna-Bida Road Project. The overall development objective of the project is to contribute to the socio-economic development of Nigeria.

President Buhari thanked the IDB for its help so far, saying, “what we are so dependent on (crude oil) has lost a lot of energy. It is coming back gradually, and we are breathing a bit more with some confidence. But we expect greater cooperation from you.”

Dr. Al-Jasser expressed satisfaction in the level of collaboration between Nigeria and the IDB since he assumed duties three months ago.
He said, “I am impressed by your policies on infrastructure, which will give opportunities to youths, and encourage the private sector. Nigeria is a pivotal country to us, and it deserves all the help it can get.”

The IDB boss further revealed that the main role of the bank is to promote development among its stakeholders, promising that IDP will continue to lend a helping hand to Nigeria.


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