FG sets up N15bn fund for Niger Delta

The Federal Government has set up N15bn industrial reactivation fund in the Niger Delta partnership with the private sector.



The Minister of Niger Delta, Pastor Usani Uguru, disclosed this on Thursday in a statement by the ministry’s Director of Press, Marshal Gundu.

Uguru reportedly spoke in Imo State when he led a delegation of the Presidential Economic Diversification Mission of the Niger Delta region to the state.

He said the N15bn facility was made available through the Bank of Agriculture, Bank of Industry, Nigeria Export-Import Bank and New Partnership for Africa’s Development.

According to him, the facility, “which is to be accessed by qualified and serious-minded investors, is part of the efforts to diversify the nation’s economy, create job opportunities and revitalise the economy through improved productivity of the nation’s industries, agricultural and manufacturing sectors.”

Usani said the initiative was not just for the Niger Delta but “a litmus test for the viability of the initiative before it would be extended to other parts of the country.”

He urged investors to take advantage of the various business opportunities of the initiative, adding that the government was committed to making the business environment conducive for them.

In his remark, the Governor of Imo State, Rochas Okorocha, expressed delight at the initiative, saying it would reduce the poverty in the state.

The Chief Executive Officer of New Partnership for Africa’s Development,

Princess Gloria Akobundu, expressed the hope that the state would leverage on the opportunities of the mission by ensuring the right investments