Northern governors reach agreement with Saudi Arabia's Islamic Development Bank

SAUDI Arabia's Islamic Development Bank (IDB) has agreed to provide loans to several states across northern Nigeria as part of a redevelopment programme after a delegation of five governors visited the country to sign a pact.

 

Keen to find a means to redevelop their states following the recent economic devastation brought about by the Boko Haram insurgency, five governors visited Saudi Arabia in search of investment and developmental funding. This high-powered team of five Northern Nigerian States Governors Forum (NSGF) delegates was led by the Governor of Borno State, Kashim Shettima and  included Abdullahi Ganduje of Kano State, Nasir El-Rufai of Kaduna State, Umar Al-Makura of Nassarawa State and Muhammad Abubakar of Jigawa State.

 

Ahmad Ali, the IDB president said: “We will work together to come up with a comprehensive and constructive plan to support northern Nigeria. We will start with education, particularly bilingual education and other areas such as job creation.”

 

Governor Shettima stated that in Nigeria, poverty wears a northern face, therefore the purpose of their visit to the IDB is to explore credible avenues to enhance developmental activities. He told the IDB president that the region is suffering from joblessness, low access to education and healthcare facilities, despite the abundance of natural resources.

 

Governor El-Rufai of Kaduna State added that the northeastern region requires urgent intervention in education, electricity supply and poverty reduction, as according to him, a major cause for the insurgency is poverty. At an NSGF meeting in Kaduna meeting in September, the governors decided to visit the IDB after realising that a radical solution was needed to the growing problem of poverty.

 

IDB’s vice president, operations, Mansur Muhtar, told the delegation that the bank will do its best to look into various areas of intervention, particularly in the development of infrastructure which is a key priority in its development strategy. He then thanked the delegation for visiting IDB and said he hopes that the visit will help in forging a stronger partnership that will help in mobilising resources for the development of northern Nigeria.

 

Also on the delegation to Jeddah is a former chief economic adviser to late President Umaru Yar’Adua, Tanimu Kurfi. Over the next few days, the governors are expected to hold different meetings with the Islamic Corporation for the Development of the Private Sector, International Islamic Trade Finance Corporation, Islamic Corporation for the Insurance of Investment & Export Credit, Islamic Research and Training Institute and Islamic Solidarity Fund for Development.

 

Established about 41 years ago, the IDP is an international financial institution involved in equity capital, financing productive projects for the economic and social development of 56 countries who are members of the Organisation of Islamic Cooperation. It supports Muslim communities including those in none-member countries through special intervention funds set aside for international cooperation.