The presidency has finally released details of the $30bn loan to be sources from different international financial organizations.
The loan mostly has long term maturity period and will be used for different capital projects across the country.
The detail of the loan was made known in a statement by Ajuri Ngelale, President’s Special Assistant on Public Affairs.
See his statement below…
As Promised, Here Is The Re-Presented Final Tranche ($22.7bn) Of The $29.96bn Infrastructure Plan, Broken Down Sector-By-Sector For Easiest Consumption:
Every Dollar Is Accounted For & All Projects Are Project-Tied With Favorable Concessionary Rates.4
Water Resources: Greater Abuja Water Supply Project: $381m – 20yr Maturity – 2.5% Interest
(China Exim Bank)
NEast/NC Rural Water Supply Project: $150m – 20yr Maturity – 1.1% Interest (African Devt Bank – AFDB)
Agriculture: Agric Transformation Support II: $200m – 20yr Maturity – 1.1% Interest (AFDB)
Staple Crops Processing Zone Devt: $100m – 25yr Mat – 1.25% Interest (World Bank – Kogi)
Staple Crops Processing Zone Devt: $500m – 20yr Mat – 1.1% Interest (AFDB – Nationwide)
Social Investment: NSIO/CCT: $500m – 25yr Maturity – 1.25% Interest (World Bank – Nationwide)
MSME Devt Finance: $1.1Bn USD $500m – 21yr Mat – 3% Int (World Bank), $450m – 20yr Mat – 1% Int (AFDB), $130m – 15yr Mat – 3% Int (AFD France), $20m – 15yr Mat – 3% Int (KFW GER)
E – Governance: FGIP Fiscal Governance (Database Linking EFCC/NIMC/NBS/OAGF): $200m – 25yr Mat – 1.25% Int (W. Bank)
ICT Backbone Phase III: $328m – 20yr Mat – 2.5% Int (ChinaXim) Road Asset Management E-System: $33.7m – 20yr Mat – 1.12% Int (W. Bank)
Solid Minerals: Mining Reform Fund: $150m – 25yr Mat – 1.25% Int (W. Bank)
Education: Education Sector Reform Program (Performance For Results Initiative / FGN Education-Cash Interventions To States On A Performance/Value Basis): $500m – 21yr Mat – 3% Int (W. Bank)
Power: Mambilla Hydropower Project: $4.8Bn – 20yr Mat – 3% Int (China Exim) TCN – Transmission Upgrade Program: $364m – 20yr Mat – 0.25% Int (W. Bank) $200m – 20yr Mat – 2.9 Int (AFD) Transmission Upgrade (Lagos-Abeokuta) Project: $200m – 30yr Mat – 1.4% Int (Japan ICA)
Power (Continued): Nine Power Sector Vocational Schools: $50m – 20yr Mat – 2.9% Int (AFD France) Power Total: $5.61Bn USD Housing: Housing Financing Guarantee Project: $100m – 20yr Mat – 2.9% Int (AFD)
Transportation: Ibadan – Kano Railway: $5.53Bn – 20yr Mat – 2.75% Int (China) Coastal Railway (Calabar – Port Harcourt – Onne Deep Sea Port): $3.47Bn – 20yr Mat – 2.75% Int (China) Abuja Mass Rail II (City Center To Outer Districts): $1.25Bn – 20yr Mat – 2.75% Int (China)
Works: East-West Road: $800m – 20yr Mat – 2.75% Int (China) Road Reconstruction: $434.7m – 20yr Mat – 1.1% Int (AFDB) Gombe-Biu Road (120km) Calabar-Ekang-Ajassor Road (64km) Enugu-Abakiliki-Ogoja Road (246km) Katsina-Jibiya-Niger Rep Road (65km) Maokwa-Kaduna Road (190km)
Information: NTA Digitalisation Project: $500m – 20yr Mat – 2.75% Int (China) W/Africa Disease Surveillance System: $90m – 25yr Mat – 1.25% Int (W. Bank) WB State Support: Kaduna State Devt Policy Operation: $350m – 25yr Mat – 1.25% Int (W. Bank)
This Forms The Stimulus Plan. I Hope You Find This Information Useful. Ahead Of The Inflow Of More Than $1tn Foreign Investment Into Africa Via AFCTA, We Urgently Need Infrastructure To Compete Favourably With SA, Morocco, Egypt, Kenya, Ghana For 100s Of Millions Of New Jobs.