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In a bid to fast track the economic diversification and industrialisation of the Niger Delta region, the Federal Government, has promised investors in the region one digit interest rate for loans from financial institutions.
The Ministry of Niger Delta Affairs, disclosed the development in a statement made available to Daily Sun in Abuja.
According to the Minister of Niger Delta Affairs, Usani Uguru Usani, the Federal Government has decided to facilitate availability of credit to investors through the Bank of Industry, Bank of Agriculture Development, Nigeria Export and Import Bank and other financial institutions at a single digit rate,’’ Usani said.
Usani stated that the ultimate goal of the presidential initiative is job creation in the Niger Delta Region.
He added that the Ministry of Niger Delta Affairs was coordinating the programme for successful implementation.
Usani stated that the programme would be managed in a manner whereby every investor had confidence enlisted in what was being done.
He further said the expectation was that each state in the Niger Delta region would choose private investors who will carry out investment in their areas of competence, comparative and competitive advantages in their domain.
