FG to raise fund from bond for Calabar-Itu highway

Calabar-Itu road Photo Credit: thenationonlineng.net
Calabar-Itu road Photo Credit: thenationonlineng.net

The Senior Special Assistant to the President on Niger Delta Development Commission (NDDC), Ita Enang, said the federal government has requested funding support from SuKuk bond to finance the completion of Calabar-Itu highway.

Mr Enang, who was fielding questions from journalists, in Uyo on Friday, said this would be through the Debt Management Office and other multilateral sources to enable it finance the Calabar-Itu road project.

The presidential aide said he had personally written to the Ministry of Finance and the Ministry of Works and Housing to assist the project with loan from the SuKuk bond.

“Right now we are looking at multilateral sources of funding the road.

“I have written and I am requesting for funding support from the ministries, from the SuKuk bond through the Debt Management Office, the Ministry of Finance and the Ministry of Works and Housing to help the road with loan from the SuKuk bond.

“SuKuk bond is one of the avenues of funding major projects and it is from there that a N100 billion was raised to finance Abuja-Lokoja road project and some other projects in the country. So, I have requested for funding from that window,” Mr Enang said.

The presidential aide added that government would ensure the completion of East-West Road as it had been captured in 2020 budget.

On the proposed nuclear plant in the state, Mr Enang urged Akwa Ibom people especially the Oku Iboku community to remain calm as the federal government would not do anything at the detriment of the people.

He said the project was on preliminary stage to sensitise the people on the benefits of nuclear plant over thermal and solar project.

He said the project was at Environmental Impact Assessment stage, adding that it will be after this stage that the federal government will know the next line of action.

Mr Enang said sensitisation did not mean the establishment of the nuclear plant in Oku Iboku, stressing that the federal government will continue to sensitise the people on the benefits of establishing nuclear plant in the state.

READ ALSO: SPECIAL REPORT: After over a billion spent, Ajaokuta-Okene Highway, other roads abandoned

The New Agency of Nigeria (NAN) recalls that last week, the Nigeria Atomic Energy Commission (NAEC) organised sensitisation campaign to address the benefits of nuclear energy.

The commission through its project Manager, Matthew Agu, had said there were numerous benefits of nuclear power plant in a locality.

He said nuclear energy is friendly, safe and cheapest than thermal and solar.

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He added that nuclear energy was quite environmental friendly.

“The nuclear power energy industry plays an important role in the socio-economic growth of the country.

“This ranges from job creation, provision of basic amenities to generation of substantial domestic economic value in electricity sales and revenue.

“A recent analysis has found that nuclear power plants create some of the largest economic benefits compared to other electric generating technologies due to their size and number of workers needed for the operation of the plants.

“Operation of nuclear plant requires 800 to 1, 200 direct permanent jobs per reactor,’’ Mr Agu said.

He, however, said the challenge confronting the establishment of nuclear plant in spite of the numerous benefits was people acceptance.



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