The federal government has set its sights on leveraging international funding and Public-Private Partnerships (PPP) to accelerate regional development, as part of a broader strategy to unlock the economic potential of Nigeria’s regions.
The move was part of the outcome contained in a communique issued after a two-day retreat organised by the Ministry of Regional Development, held in Benin City, Edo state.
Participants underscored the urgent need for regional development commissions to align project proposals with Sustainable Development Goals (SDGs) and climate resilience frameworks in order to attract international grants and concessional financing.
The communiqué also directed each commission to appoint a Development Finance and Partnerships Officer responsible for sourcing, applying for, and managing global funding opportunities, while urging the ministry to convene a Development Partner Engagement Forum within six months.
The retreat, themed “Generating Fresh Ideas to Unlock the Potential of the Regions,” brought together key stakeholders including National Assembly committee chairmen, heads of regional development commissions, development partners, and senior government officials.
It was declared open by Edo State Governor, Senator Monday Okpebholo, represented by his deputy, Hon. Dennis Idahosa.
Participants further highlighted the role of PPP in bridging infrastructure gaps, particularly in critical sectors such as power and transport.
They stressed the need for increased investment in electricity generation and the development of inter-modal transport systems linking industrial clusters, dry ports, rail lines, and seaports to enhance trade and economic growth.
The retreat also resolved that the Ministry of Regional Development would coordinate amendments to the various Acts establishing the commissions to ensure uniformity, efficiency, and improved service delivery.
The communiqué emphasised strict adherence to existing regulations, including the Public Procurement Act 2007, Finance Act 2023, Public Service Rules, and International Public Sector Accounting Standards (IPSAS), as part of efforts to promote transparency and accountability.
Speaking at the close of the retreat, the Minister of Regional Development, Engr. Abubakar Momoh, reiterated the Ministry’s pledge to drive coordinated, results-oriented regional growth.
”We must strengthen regular, close coordination between the Ministry, the Commissions, board members, and management through smaller, more frequent engagements,” Momoh added.
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