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Afreximbank provides $400m to the Export Trading Group to drive agricultural productivity and resilience

Three-year revolving global credit facility will strengthen African agricultural networks and bolster the continent’s food security Cairo, 26 August 2020: – The African Export-Import Bank (Afreximbank), Africa’s...
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FG’s New Vision Targets Maximum Benefits Of Oil wealth For Niger Delta

The Buhari administration’s New Vision for the Niger Delta brings together a robust set of promises, solutions, targets and initiatives aimed at ensuring that the people of the Niger Delta benefit maximally from the oil wealth in the region.

The New Vision offers a detailed response to the 16-point Demand Agenda submitted to President Buhari by the Pan Niger Delta Forum (PANDEF) in November 2016.

Tangible results of the New Vision so far include: Take-off of the Nigerian Maritime University in Okerenkoko, Delta State. The University was granted approval in January 2018 by the National Universities Commission (NUC) to commence undergraduate degree programmes effective 2017/18 session, and commenced academic activities on April 12, 2018.   

President Buhari had already approved 5 billion Naira in take-off grant for the Maritime University.   

The Maritime University commenced full academic activities for the 2017/2018 academic year with a total of 370 students spread across 13 undergraduate programmes in three Faculties approved by the NUC, namely: Transport, Engineering and Environmental Management.

Ogoni Clean-Up: Setting aside of US$170m seed funding for the Ogoni Clean Up, in an Escrow Account established for that purpose. The Escrow Agreement Signing Ceremony took place in April 2018.

The Clean-Up commenced in January 2019, with the handover of the first batch of sites to the selected remediation firms, after a painstaking procurement process.

A total of 21 sites have so far been handed over to contractors by the Hydrocarbon Pollution Restoration Project (HYPREP) under the Federal Ministry of Environment for ongoing remediation works and restoration of the environment. The Ogoni clean-up is the first of its kind in the history of Niger Delta.

Approvals for the establishment of private-sector-led Modular Refineries across the nine States of the Niger Delta – the first three Refineries have now been completed, while construction is ongoing on others (Ikwe-Onna Refinery, Akwa Ibom;  Azikel Refinery, Bayelsa; and AIPCC Refinery, Edo).

The 3 Modular Refineries now completed are: Niger Delta Petroleum Resources (NDPR) Modular Refinery, Rivers; OPAC Modular Refinery, Delta; and Waltersmith Refinery, Imo.

Infrastructure projects include the ongoing construction work on the 34-kilometres Bonny-Bodo road. When completed, the Bonny-Bodo road (and bridge), which was flagged off in October 2017, would connect several major communities and boost socioeconomic development in the region.

There is also the Itakpe-Warri rail line project, which is now complete and ready for commissioning. The rail line would handle passenger, commercial and freight services.

The Federal Government is also in the process of developing sea ports in the region, including Warri, Ibaka deep sea port, among other development projects like the establishment of Export Processing Zones to boost economic activities.