Education gets $500m, NTA to receive $500m as Federal Govt reveals $22.7Bn Loan Spending Plan
The Federal government of Nigeria under the administration of President Muhammad Buhari has revealed the spending plan of the $22.7bn.
Education gets $500m, NTA to receive $500m as Federal Govt reveals $22.7Bn Loan Spending Plan
Recalled that the Senate on Thursday approved the request of President Muhammadu Buhari to get a foreign loan of $22.7 billion, three years after the 8th Senate under Dr Bukola Saraki rejected it.
Here are the institutions the loan is being requested:
Exim Bank of China ($17bn)
World Bank ($2.95bn)
Africa Development Bank ($1.88bn)
Islamic Development Bank ($110m)
Japan International Cooperation Agency ($200m).
German Development Bank ($20m)
French Development Agency ($480m).
Spending Plan below:
INFRASTRUCTURE
– Emergency road rehabilitation and maintenance ($434.7m, nationwide)
– Abidjan-Lagos corridor highway development project study ($1.5m; multinational) – Abuja mass rail transit project (phase 2) ($1.25bn; FCT)
– East-west road ($800m; Niger Delta)
– Nigeria Housing Finance Project Guarantee Scheme ($100m; national)
– Lagos-Kano railway modernisation project (Ibadan-Kano segment double track) ($5.53bn; Ibadan-Kano states)
– Railway modernisation coastal railway project (Calabar-Port Harcourt-Onne deep sea port segment ($3.47bn; Cross River and Rivers states)
SOCIAL INVESTMENT
– National Social Safety Net Project ($500m, nationwide)
– Multi-sectoral crises recovery programme ($200m, north-east)
– North-east Nigeria integrated social protection, basic health, education, nutrition services and livelihood restoration project ($100m; north-east)
POWER
– Power transmission project ($200m; Lagos, Ogun)
– Vocational training in power sector ($50m; FCT, Lagos, Ogun. Kano, Plateau, Niger, Enugu, Kaduna and Cross River)
– TCN overall transportation system enhancement project ($200m; nationwide)
– Mambila hydro-electric power project ($4.8bn; Taraba)
– Nigeria Electricity Transmission and Access Project ($364m; nationwide)
EDUCATION
– Better Education Service Delivery for All (BESDA) ($500m, nationwide)
ECONOMY
– Development finance project ($500m, nationwide)
– Kaduna state economic transformation program for results ($35m, Kaduna)
– Development finance project (2) ($450m, min. of power)
– Development finance project (3) ($20m, nationwide)
– MSMEs project ($1.28bn; nationwide)
COMMUNICATION
– NTA digitisation project ($500m; nationwide)
– National Information and Communication Technology Infrastructural Backbone Project (NICTIB) phase II ($328.1m; Lagos, Abuja, Ibadan, Akure, Maiduguri, Lokoja, Kaduna, Akwanga, Bauchi, Kano, Katsina)
AGRICULTURE
– Staple crops processing zone support project ($100m, Kogi)
– Agriculture Transformation Agenda Support Project II (ATASP) ($200m, nationwide)
– Staple crops processing zone projects (2) (500m; nationwide)
HEALTH/WATER
– Regional disease surveillance systems enhancement project in West Africa ($90m, nationwide)
– Health System Project ($110m, Katsina)
– Rural water supply and sanitation ($150m; north-east, and Plateau)
– Greater Abuja water supply project ($381m; FCT)
GOVERNANCE
– Fiscal Governance and Institutions Project (FGIP) ($200m, government institutions)
– Institutional strengthening and implementation of policy reforms ($33.7m, min. of works and housing)
ENVIRONMENT
– Lake Chad Basin Commission ($13m, multinational)
– Integrated programme for development and adaption to climate change in the Niger Basin ($6m; Nigeria and Niger)
– Development of the mining industry ($150m, nationwide).
(THE CABLE).
Education gets $500m, NTA to receive $500m as Federal Govt reveals $22.7Bn Loan Spending PlanRecalled that the Senate on Thursday approved the request of President Muhammadu Buhari to get a foreign loan of $22.7 billion, three years after the 8th Senate under Dr Bukola Saraki rejected it.
Here are the institutions the loan is being requested:
Exim Bank of China ($17bn)
World Bank ($2.95bn)
Africa Development Bank ($1.88bn)
Islamic Development Bank ($110m)
Japan International Cooperation Agency ($200m).
German Development Bank ($20m)
French Development Agency ($480m).
Spending Plan below:
INFRASTRUCTURE
– Emergency road rehabilitation and maintenance ($434.7m, nationwide)
– Abidjan-Lagos corridor highway development project study ($1.5m; multinational) – Abuja mass rail transit project (phase 2) ($1.25bn; FCT)
– East-west road ($800m; Niger Delta)
– Nigeria Housing Finance Project Guarantee Scheme ($100m; national)
– Lagos-Kano railway modernisation project (Ibadan-Kano segment double track) ($5.53bn; Ibadan-Kano states)
– Railway modernisation coastal railway project (Calabar-Port Harcourt-Onne deep sea port segment ($3.47bn; Cross River and Rivers states)
SOCIAL INVESTMENT
– National Social Safety Net Project ($500m, nationwide)
– Multi-sectoral crises recovery programme ($200m, north-east)
– North-east Nigeria integrated social protection, basic health, education, nutrition services and livelihood restoration project ($100m; north-east)
POWER
– Power transmission project ($200m; Lagos, Ogun)
– Vocational training in power sector ($50m; FCT, Lagos, Ogun. Kano, Plateau, Niger, Enugu, Kaduna and Cross River)
– TCN overall transportation system enhancement project ($200m; nationwide)
– Mambila hydro-electric power project ($4.8bn; Taraba)
– Nigeria Electricity Transmission and Access Project ($364m; nationwide)
EDUCATION
– Better Education Service Delivery for All (BESDA) ($500m, nationwide)
ECONOMY
– Development finance project ($500m, nationwide)
– Kaduna state economic transformation program for results ($35m, Kaduna)
– Development finance project (2) ($450m, min. of power)
– Development finance project (3) ($20m, nationwide)
– MSMEs project ($1.28bn; nationwide)
COMMUNICATION
– NTA digitisation project ($500m; nationwide)
– National Information and Communication Technology Infrastructural Backbone Project (NICTIB) phase II ($328.1m; Lagos, Abuja, Ibadan, Akure, Maiduguri, Lokoja, Kaduna, Akwanga, Bauchi, Kano, Katsina)
AGRICULTURE
– Staple crops processing zone support project ($100m, Kogi)
– Agriculture Transformation Agenda Support Project II (ATASP) ($200m, nationwide)
– Staple crops processing zone projects (2) (500m; nationwide)
HEALTH/WATER
– Regional disease surveillance systems enhancement project in West Africa ($90m, nationwide)
– Health System Project ($110m, Katsina)
– Rural water supply and sanitation ($150m; north-east, and Plateau)
– Greater Abuja water supply project ($381m; FCT)
GOVERNANCE
– Fiscal Governance and Institutions Project (FGIP) ($200m, government institutions)
– Institutional strengthening and implementation of policy reforms ($33.7m, min. of works and housing)
ENVIRONMENT
– Lake Chad Basin Commission ($13m, multinational)
– Integrated programme for development and adaption to climate change in the Niger Basin ($6m; Nigeria and Niger)
– Development of the mining industry ($150m, nationwide).
(THE CABLE).
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