BY EDMOND ODOK – The Federal Government 2018-2021 medium-term (rolling) external borrowing plan contains a total of 15 projects that will be funded with over $4 billion to be drawn from multilateral institutions.
Spread across the six geopolitical zones of the country, the proposed projects are contained in President Muhammadu Buhari’s request asking the Senate to approve sovereign loans of $4.054 billion and €710 million as well as grant components of $125 million.
As captured in the President’s request, the sovereign loans will come from the World Bank; French Development Agency (AFD); China-Exim Bank; International Fund for Agricultural Development (IFAD); Credit Suisse Group, and Standard Chartered/China Export and Credit (SINOSURE).
To convince the lawmakers, President Buhari listed 15 proposed pipeline projects; the objectives; the implementation period; benefiting States; as well as the implementing Ministries, Departments, and Agencies (MDAs).
Breaking down the ‘‘Addendum to the Proposed Pipeline Projects for the 2018-2021 Medium Term (rolling) External Borrowing Plan,’’ the document indicates that the World Bank will finance seven projects, including the $125 million grant for ‘‘Better Education Services for All’’.
According to the loan documents, the Global Partnership for Education (GPE) grant is meant to increase equitable access for out-of-school children and improve literacy in focus states. To be implemented by the Federal Ministry of Education and the Universal Basic Education Commission (UBEC), the grant will strengthen accountability for results in basic Education in Katsina, Oyo, and Adamawa States.
Among the projects that will be covered by the World Bank funding are the State Fiscal, Transparency, Accountability and Sustainability Programme for Results as well as the Agro-Processing, Productivity, Enhancement, and Livelihood Improvement Support Project.
Also, on the list of benefiting States for the agro-processing project are Kogi, Kaduna, Kano, Cross River, Enugu, and Lagos with the Federal Ministry of Agriculture and Rural Development as the implementing ministry.
Similarly, the projects’ document said the project objective is to enhance agricultural productivity of small and medium-scale farmers as well as improve value addition along priority value chains in the participating States.
Additionally, the World Bank will, for the next five years, also finance the Nigeria Sustainable Water Supply, Sanitation and Hygiene (WASH) project in Delta, Ekiti, Gombe, Kaduna, Katsina, Imo, and Plateau States.
On completion, the project is expected to improve rural water supply, sanitation, and hygiene nationwide towards achieving Sustainable Development Goals (SDGs) for water supply and sanitation by 2030.
Also covered by the external borrowing plan are the World Bank-supported projects that include Nigeria’s COVID-19 Preparedness and Response Project (COPREP), under the supervision of the Federal Ministry of Health and Nigeria Centre for Disease Control (NCDC). With a five-year implementation period, the project will respond to threats posed by the COVID-19 pandemic through the procurement of vaccines.
Besides, about 29 States are listed as beneficiaries of the Agro-Climatic Resilience in Arid Zone Landscape project, focused on reducing natural resource management conflicts in dry and semi-arid ecosystems in Nigeria.
Listed as beneficiaries for the project that will be co-funded by the World Bank and European Investment Bank (EIB) include Akwa Ibom, Borno, Oyo, Sokoto, Kano, Katsina, Edo, Plateau, Abia, Nasarawa, Delta, Niger, and Gombe.
Others states that will benefit are Imo, Enugu, Kogi, Anambra, Niger, Ebonyi, Cross River, Ondo, Kaduna, Kebbi, Jigawa, Bauchi, Ekiti, Ogun, Benue, Yobe and Kwara.
Added to the World Bank’s funding list is the Livestock Productivity and Resilience project to be implemented in about 19 States and the Federal Capital Territory (FCT).
By the same token, the China EXIM Bank will be funding the construction of the branch line of Apapa-TinCan Island Port as part of the Lagos-Ibadan Railway modernisation project.
