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Stakeholders target $50 billion in renewed bid to save Lake Chad

It has been revealed that the United Nations Secretary-General, Antonio Guterres, has accepted to co-chair a special session to raise $50 billion to fund inter-basin water transfer to revive Lake Chad.

This follows a closed door meeting President Muhammadu Buhari had on Tuesday with the President of the African Development Bank, Akinwumi Adesina, at the Presidential Villa, Abuja.

While addressing State House correspondents after the meeting, Adesina disclosed that he conveyed the response of the UN Secretary-General to President Buhari’s earlier letter during a meeting with the Nigerian leader at the Presidential Villa.

President Buhari also confirmed the Guterres acceptance in a statement by the Senior Special Assistant to the President on Media and Publicity, Garba Shehu.

Buhari welcomed the acceptance, noting that such a special forum was necessary, in view of the size of capital required for the project which was unavailable to the Lake Chad Basin countries.

READ ALSO: ‘Help recharge Lake Chad,’ Buhari solicits support from Qatar as Emir comes visiting

Addressing issues directly related to the AfDB, the President said he was delighted with successes recorded in the four years of Adesina’s tenure at the bank.

President Buhari specifically cited the Bank’s contribution to the growth of Nigeria’s agriculture and infrastructure, and commended what he called “its critical gesture in 2016 during the difficult period of economic recession through the issuance of USD600 million budget support facility.”

He used the occasion to highlight the successes achieved by his administration through the implementation of the Economic Recovery and Growth Plan (ERGP).

The President stressed that his focus would continue to be on diversifying the economy and making it more inclusive, as well as the creation of jobs in critical sectors like the Information Communication Technology (ICT) and manufacturing.

Also, he disclosed that a lot was being achieved in providing guaranteed off-takers for farmers, and in the provision of infrastructure that included airports, rail, roads and water ways.

President Buhari, however, said, “We still have significant work ahead in the provision of power, small scale cottage industries and promotion of the agro-industrial zones coming up in the country.”

He then asked for ADB’s continued support in this regard.

Adesina on his part, thanked President Buhari for his support, without which he said he would not have been AfDB President.

He also acknowledged the progress being made in Nigeria’s economy while listing the achievements of the bank in the country since his presidency.

Ripples Nigeria

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Ripples Nigeria

We are an online newspaper, very passionate about Nigerian politics, business and their leaders. We dig deeper, without borders and without fears.
www.ripplesnigeria.com

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