Nigerian govt enters N186m agreement with Islamic Bank for hajj, textile industry

The Federal Government says it has signed an agreement with the Islamic Development Bank (ISDB) for the funding of the National Hajj Commission and the nation’s textile industry.

The fund described as Technical Assistant financing pact, is a $523,823 (N185.95m) grant while the National Hajj Commission of Nigeria would get $243,823 and the Federal Ministry of Industry, Trade and Investment gets $280,000.

The details of the deal was given in a statement on Monday by the Media Adviser to the Minister of Finance, Paul Ella.

According to the statement, the agreement was signed by the finance minister, Mrs Zainab Ahmed on behalf of the Federal Government at the 44th ISDB Group Annual Meeting held in Marrakesh, Morrocco.

The President of ISDB, Dr Bandar Hajjar signed on behalf of the bank.

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The Minister explained that part of the money budgeted for Hajj Commission would cover capacity building SBD logistics.

She added that the grant would improve cotton and textile production.

She said, “The Technical Assistant Agreement Grant of $243,823.0 to the National Hajj Commission of Nigeria is for capacity building/equipment and logistics upgrade.

“TA grant of $280,000 to the Federal Ministry of Industry Trade and Investment is for the improvement of cotton, textile and garment value chain,” she stated.

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