Buhari To Launch $10Billion Niger Delta Reconstruction Fund

By Ikenga Chronicles October 28, 2016

The Federal Government of Nigeria may have finally taken the most concrete step towards addressing the perennial problems of the Niger Delta region.The Niger Delta region, home to the oil that is the backbone of Nigeria’s economy has also been relatively home to several conflicts over the years. The restiveness that has wrapped up the region has led to the emergence of various groups of militants who constantly attack oil facilities, while complaining about the dearth of infrastructural development for the goose that lays the country’s golden egg.

To be able to curtail this, the Buhari-led Federal Government has decided to launch a $10 billion infrastructural development fund.This was announced on Thursday by the Minister of State for Petroleum,Dr. Ibe Kachikwu. According to him;

“We are launching $10 billion infrastructural rebirth investment programmes in the Niger Delta region. This is not money that is going to come strictly from the federal government. It is going to come from investors, individuals who are ready to do private sector infrastructure, obviously states and federal governments as the case may be and international organisations who have shown interest to help,”

Kachikwu made this revelation during te unveiling of the Roadmap for the Petroleum Industry tagged “7 Big Wins to Grow Nigeria’s Oil and Gas.”

Many experts believe that an integrated development of the Niger Delta region is the sole key to arresting restiveness in the area.

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