Report from Federal Ministry of Water Resources.
The Minister of Water Resources, Mrs. Sarah Reng Ochekpe has revealed that Israeli Investors have indicated interest to partner with the Nigerian Government to complete some of the on-going projects in the Ministry.
Mrs. Ochekpe said that although the Federal Government had done much in providing funds to complete some of the projects the Ministry was partnering with private investors to complete even though the projects were not yet completed.
She assured the investors that the Nigerian Government was willing to partner with any country interested in improving the socio-economic development of Nigeria.
In his remarks, the Head of Public Private Partnership (PPP), Engr. Benson Ajisegiri stated that the Ministry had categorized the water projects available for partnership with the private sector into two: Brownfield and Greenfield projects.
He said Brownfield projects were the projects that had been developed, but not yet completed due to inadequate funding, while Greenfield projects were those projects that had not been developed, but were earmarked for development as they are necessary for the economic development of the country.
He stated that interested investors would look at the projects and choose the ones they are interested in. He explained that Nigeria and Israel will process and sign an MOU on any of the identified projects; the investors will then develop the projects and transfer them back to Nigeria who will pay back the capital later.
Earlier, the leader of the delegation, Prof. Jerry Ghana said that the Israeli investors had already invested in some African countries, such as Angola and Ghana and were willing to invest in Nigeria, being the largest economy in Africa.
A member of the Israeli delegation, Mr. Eli Griner, a senior consultant, said that their objective is to invest in irrigation activities and create employment opportunities for Nigerian citizens, thereby, reducing security challenges in the country.
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