Niger secures $114m loan from ECOWAS bank

The Niger State Government has signed a Memorandum of Understanding (MoU) with the ECOWAS Bank for Investment and Development, securing a $114 million loan for several development projects.

The agreement includes the construction of the Madalla Green Economy Market, valued at $11mn, and other significant initiatives.

The MoU was formalised during the ECOWAS Investment Forum (EIF) held in Togo’s capital, Lome.

Among the projects earmarked for funding is the construction of the Madalla-Suleja-Maje dual carriage road budgeted at $30m.

Additionally, there are plans for the transformation of the former secretariat into the School of Medical and Health Sciences, with an allocated budget of $40m and the construction of eight international trailer parks across locations in the state, totalling $43m.

The Commissioner for Finance, Lawal Adamu Maikano, who led the Niger State team during the signing, highlighted the strategic goals behind the initiatives.

He said the aim was to bolster Niger’s ongoing transformation by creating new investment opportunities, accelerating infrastructure development to generate employment, enhancing the healthcare sector and advancing Governor Mohammed Umaru Bago’s vision for a “New Niger”.