Niger commissions projects executed with N25bn Sukuk bond

The Niger State government has disclosed that about 150 have been completed by the current administration through the N25billion Sukuk private bond programme the state accessed.

This was made known in Minna, the state capital during the commissioning of the rehabilitated and dualised broadcasting road on Monday.

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Speaking during the ceremony, the Niger state governor, Alhaji Abubakar Sani Bello, noted that development of critical infrastructure is cardinal to economic regeneration policy as a state.

“For us to attract investments into the state economy, we need to have good infrastructural system in place that guarantees access to the market and other factors of production.

“That is why we have done so much in the areas of road rehabilitation and construction with over 40 of such civil engineering projects completed across the state.

“The government has also completed over 80 of Mechanical/Electrical projects such as Electrification and installation of transformers in the rural areas, while over 30 projects in the public building sector have been completed which includes construction of Fire Service and Police Stations among others,” the governor said.

The broadcasting road contract, which 2.4km according to the governor, was initially awarded at the cost of N1,286,121,243.91.

However, due to increase in scope and variation in prices, the contract was completed at the sum of N1,392,754,286.17.

He added that it is part of “our journey in repositioning the state to an economically enviable hub”.

Bello also assured Niger residents that his government will sustain the momentum of delivering projects that have direct bearing on daily activities of the people.

Also speaking, the state commissioner for works, Honourable Mamman Musa, who noted that the N25billion SUKUK/private Bond Programme was where the money for the commissioned project was taken from, added that it was captured in 2019 and 2020 appropriation laws with 299 projects initiated by the present administration.

He said the project includes payments of compensation and relocation
of utilities like water lines and electricity instillations.