World Bank to invest $60million in Edo State

BENIN— FOLLOWING what it described as the satisfactory performance of the administration of Governor Adams Oshiomhole of Edo State, World Bank says it would invest $60 million in projects in the state.

The new World Bank Country Director, Marie Marie-Nelly disclosed this during a visit to Governor Oshiomhole in Benin. She added that two 450Mw Independent Power Projects would be sited in the state to boost the nation’s power generation.

She said: “Since the state’s policies are very clearly laid out, we had received the go-ahead to proceed. I will mention that the amount had been slightly reduced in our discussion with the government because the amount that was appro-ved in the national budget plan is $60 million.

“We had contemplated $75 million, but I believe what is important is to start doing something. So Mr. Governor, I am pleased to visit you just three weeks after coming to Nigeria and I look forward to visiting the project sites to see the achievements.

“I believe there is a reason why Edo is the first state that I’m visiting. First of all, my team informed me that there is a dialogue that had developed between the World Bank and Edo State on the achievements you had made. I have done my homework before coming and noticed that Edo State’s social indicators are above the national average.

“I would like to commend you on your performance and to encourage you to continue because you can certainly do even more.”

Governor Oshiomhole, who said he had been able to make a bold statement that Edo State can work despite its lean resources, noted that there were lots of challenges which government had not been able to address.

He assured, however, that he would sustain the on-going urban renewal projects.

-Nigeria Investment News

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By Simon Ebegbulem

Source: Vanguard