The World Bank has approved a $500 million loan to support the Sustainable Power and Irrigation for Nigeria (SPIN) project aimed at mitigating the challenges posed by climate change.
Chakib Jenan, World Bank Regional Director for Sustainable Infrastructure Development in West and Central Africa, announced this on Thursday during a visit to the Minister of Water Resources and Sanitation in Abuja.
Genan said the SPIN project was approved by the World Bank’s board of directors on September 26, adding that it is scheduled to begin in January 2025.
He said the project aims to address climate-related issues such as floods and droughts through strengthening dam safety, improving water resource management and expanding irrigation services.
The World Bank director said the project would benefit about 950,000 people, including farmers and livestock keepers.
Mr Genan stressed the need for Nigeria to continue preparing to meet the remaining conditions if the project is to come into force by the target date of January 2025.
The World Bank team also provided an update on the Transforming Irrigation Management in Nigeria (TRIMING) project, which is nearing completion.
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The team also presented an update on the Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH) program and emphasized the importance of involving more states in this effort.
Mr Genan encouraged the Ministry to consider establishing a National WASH Fund, a key objective of the Disbursement-Linked Indicator (DLI) 1 of the SURWASH programme.
The Minister, Professor Joseph Utseff, expressed his gratitude to the bank for its continued support to Nigeria’s development, especially in sustainable infrastructure and water resources management.
He assured the delegation that the Nigerian government would provide the necessary counter-finance support to ensure the implementation of all World Bank-supported projects.
Mr. Utsev also emphasized the importance of completing the TRIMING project on time and reaffirmed the ministry’s commitment to meeting the project’s deadline of January 2025.
Also speaking was Dr. Bello Goronyo, Minister of State for Water Resources and Sanitation, who expressed his gratitude for the World Bank’s approval of the SPIN project.
Mr. Goronyo also reiterated the ministry’s commitment to ensuring the success of the project through collaborative efforts.
