Nigerian Vice President Commends IDB’s Contribution to the Development of Nigeria

Jeddah, 06 August 2013: The Vice President of the Federal Republic of Nigeria, H.E. Muhammad Namadi Sambo has commended the contribution of the Islamic Development Bank (IDB) to the socio-economic development of Nigeria. The Vice President made this remark when he received the Chairman of the IDB Group, Dr. Ahmad Mohamed Ali at the Royal Guest House in Makkah.
The Nigerian Vice President stated that the approvals for the financing of projects approved by the IDB have received the endorsement of the National Assembly and the Federal Executive Council of Nigeria. He further expressed his satisfaction with the effort of IDB in African countries.

In his remarks, the Chairman of the IDB Group, Dr. Ahmad Mohamed Ali, explained that the relationship between Nigeria and the IDB Group is becoming stronger, and expressed his appreciation over the visit by the Nigerian parliamentarians in May this year.

Dr. Ahmad Mohamed Ali informed Vice President Namadi Sambo that IDB has approved three out of the five projects submitted by Nigeria. These development projects include the construction of four new science secondary schools in Kaduna State, worth US$ 17.9 million, construction of 300-bed specialist hospital in Kaduna State at the cost of US$ 43.15 million and the Zaria water supply project worth US$ 81 million.

The IDB President expressed IDB’s readiness to organize an investment conference in Nigeria in early 2014, similar to the conference organized by the IDB last year in Abuja. The Vice President of Nigeria welcomed this initiative.

Nigeria joined IDB on 5th June 2005. Since then, the IDB Group has approved a total of US$ 638.28 million for financing projects and trade operations for the country.