Tinubu Approves N1tn Loan for NDDC to Boost Niger Delta Development

President Bola Tinubu has approved a N1 trillion loan for the Niger Delta Development Commission (NDDC) to expedite projects in the Niger Delta region. This approval supplements the commission’s existing N1.9 billion budget, aimed at accelerating development.

Addressing the 2024 Niger Delta Stakeholders Summit, represented by Senate President Godswill Akpabio, Tinubu emphasized his commitment to the region’s development. He lauded the NDDC leadership, under Chairman Chiedu Ebie and Managing Director Dr. Samuel Ogbuku, for their outstanding work.

Stakeholders at the summit had requested additional funding to hasten development. Responding to Bayelsa Governor Douye Diri’s appeal, Tinubu assured that with the approved loan, NDDC’s management would no longer face funding constraints, ensuring timely project completion.

Tinubu also announced the simultaneous commencement of the Lagos-Calabar Coastal Road project from both Lagos and the Niger Delta. The East-West Road linking Bayelsa, Rivers, and Akwa Ibom states would also receive immediate attention.

Former President Goodluck Jonathan, the summit’s chairman, criticized past political interference in NDDC’s operations, which delayed projects. He urged Akpabio to collaborate with regional stakeholders to prevent such issues and to ensure NDDC’s focus on regional development.

Jonathan highlighted the need for the region to transition from hydrocarbon dependence, advocating for development through education, skills acquisition, industrialization, and agriculture. He suggested NDDC work with the Bank of Industry for funding these initiatives.

Akpabio called for unity among regional stakeholders, condemning the “Pull Him Down” syndrome. He recounted past sabotages of the Eleme-Onne section of the East-West Road, urging for a collective effort to support development initiatives.

Bayelsa Governor Diri emphasized the urgent need for development in the region, urging that the Lagos-Calabar highway project commence from the Calabar axis as well.

The summit underscored a collective commitment to overcoming past challenges and driving sustainable development in the Niger Delta region.