Saturday, May 25, 2024
MARKET UPDATE
Advertisement Topt

TheCable

FG to get €25m grant from Netherland investors for construction of bridges

FG to get €25m grant from Netherland investors for construction of bridges
February 26
13:14 2024

The federal government says it has finalised discussions with investors from the Kingdom of Netherlands for a grant of €25 million for the construction of priority bridges in Nigeria.

Speaking after a recent meeting with the investors, David Umahi, minister of works, said the government’s approach to problem-solving includes thinking outside the box.

The minister said the federal government had expressed interest in international interventions from donor agencies and development partners to tackle Nigeria’s infrastructural deficits hindering economic growth.

According to a statement by Uchenna Orji, the minister’s spokesperson, Umahi said the increase in partnerships and collaborations is pivotal to supporting the funding of the critical sector of the economy for the promotion of robust and equitable economic growth.

Advertisement

He assured the investors that once due diligence is carried out, the proposal would be submitted to President Bola Tinubu for approval.

“We have a number of projects that we can do together. But I think the best thing to do is to conclude this one, which is a grant, then get the process started,” he said.

“And at the point of agreement and project selection, we shall refer to Mr. President for his approval.”

Advertisement

Also speaking, Oluremi Oliyide, Nigerian ambassador to the Netherlands, said Janson Bridging International made the €25 million grant offer for investment in road infrastructure in Nigeria.

“Janson Bridging is the largest modular bridge manufacturing and bridging company in continental Europe and the largest bridge rental company in the world,” Oliyide said.

According to the statement, Olitide pledged to help expedite the company’s implementation of the process as soon as all legalities are completed.

On his part, Eric Okunde, a member of the team and international business consultant, said the investors are prepared with their proposal and technically ready to collaborate with the federal ministry of works on the project design and mapping as well as creating the template for the project’s implementation.

Advertisement

Click on the link below to join TheCable Channel on WhatsApp for your Breaking News, Business Analysis, Politics, Fact Check, Sports and Entertainment News!

Tags

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment

error: Content is protected from copying.