Abuja:The Federal Government has announced that an Indian company, along with two international agencies, is interested in investing in infrastructure development through regional development commissions.
According to News Agency of Nigeria, the Minister of State for Regional Development, Uba Ahmadu, revealed in an interview that the ministry has established working arrangements with these potential investors. The parties are currently discussing a Memorandum of Understanding (MoU) to formalize the partnerships.
Ahmadu noted that the discussions with these investors were initiated after interactions with international donor agencies and business organizations during the 2026 United Nations General Assembly in New York. The ministry is considering various investment opportunities, including the proposed North-East Regional Airline, North-East Rail Project, and a regional power company.
The minister highlighted that the regional airline project was among the topics discussed with investors in New York, following an agreement by North-East governors at a recent meeting in Maiduguri. Additionally, the proposed North-East Power Company aims to generate 40 megawatts of electricity from Kiri Dam in Adamawa to supply to the national grid, which would increase electricity availability.
Ahmadu emphasized that discussions on the power project are at an advanced stage, as electricity generation is seen as a crucial investment opportunity for the region. He encouraged Nigerian investors to seize investment opportunities within the regional development commissions rather than leaving these initiatives solely to foreign partners.
He pointed out that numerous investment opportunities exist for the private sector in the commissions, including potential projects in thermal energy, which could generate substantial revenue. The commissions will focus on creating a conducive environment for private sector investment rather than engaging in commercial activities directly.
Ahmadu explained that revenue generated from these investments would support the commissions’ activities, especially when funds from expected sources fall short. By actively pursuing investment opportunities, the ministry aims to strengthen the financial capacity of the commissions, ensuring continued infrastructure development across their regions.