Abuja:An Indian company and two international agencies have expressed interest in investing in infrastructure development across regional development commissions, as announced by the Federal Government.
According to News Agency of Nigeria, Uba Ahmadu, the Minister of State for Regional Development, revealed the ministry’s engagement with these potential investors during an interview. The ministry is currently working on a Memorandum of Understanding (MoU) to formalize these partnerships.
The discussions with the prospective investors were initiated after engagements with international donor agencies and business organizations at the 2026 United Nations General Assembly in New York. The ministry is considering several investment opportunities, including the North-East Regional Airline, North-East Rail Project, and a regional power company.
The proposed regional airline, discussed with investors in New York, came after an agreement among North-East governors at a recent meeting in Maiduguri. The North-East Power Company is another significant project, aiming to generate 40 megawatts of electricity from Kiri Dam in Adamawa to supply to the national grid. This initiative is seen as a way to generate revenue for the commission and enhance electricity availability.
Ahmadu emphasized that discussions on the power project are well advanced, highlighting electricity generation as a crucial investment opportunity for the region. He also encouraged Nigerian investors to seize these opportunities rather than leaving them to foreign partners.
Thermal energy was identified as another promising area for investment, with the potential to generate substantial revenue for the commissions. While the commissions will not engage directly in commercial activities, they aim to foster an environment conducive to private sector investment.
The revenue from these investments is intended to sustain the commissions’ activities, especially when traditional funding sources fall short. The ministry is actively seeking investment opportunities to bolster the financial capabilities of the commissions and ensure ongoing infrastructure development.