Partnerships to boost development in Nigeria's Niger Delta

Nigeria's Minister of Niger Delta Affairs, Umana Okon Umana believes public-private partnerships remain crucial to the development of the oil-rich Niger Delta region. Speaking with CNBC Africa's Akin Obakeye, Mr Umana stresses that the funds available to the region's manager are not sufficient to achieve the needed socio-economic growth.

Wed, 26 Apr 2023 14:59:49 GMT

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AI Generated Summary

The funds available to the Niger Delta region, sourced from various entities including oil companies and government, are insufficient to address its socio-economic challenges, highlighting the importance of public-private partnerships for sustainable development.
The NDDC's focus on organizing a summit centered on public-private partnerships demonstrates a proactive approach to engaging stakeholders such as the financial sector, oil and gas industry, and local players to address the region's development needs.
Minister Umana emphasizes the necessity of policy continuity and collaboration with state governments to ensure effective implementation of development initiatives in the Niger Delta, emphasizing a shift towards partnership rather than competition.

The Minister of Niger Delta Affairs in Nigeria, Umana Okon Umana, has emphasized the importance of public-private partnerships in driving the development of the oil-rich Niger Delta region. In a recent interview with CNBC Africa's Akin Obakeye, Minister Umana highlighted that the funds currently available to the region are insufficient to address the socio-economic challenges it faces. The Niger Delta Development Commission (NDDC) was established as an interventionist agency to tackle the region's development issues, with funding sources from oil companies, state governments, and the federal government. However, Minister Umana pointed out that these funds are inadequate to meet the region's needs, necessitating a different approach. The current board of the NDDC has taken the initiative to organize a summit focusing on public-private partnerships, which Minister Umana views as a welcome step towards engaging various stakeholders, including the financial sector, oil and gas industry, and local players. This collaborative effort is expected to create a conducive environment for sustainable development in the Niger Delta. Minister Umana emphasized that effective partnerships would benefit not only the NDDC or the government but also private companies and other key players in the region. By leveraging the strengths and resources of all stakeholders, the region can overcome its development challenges and facilitate economic growth. Minister Umana also emphasized the importance of policy continuity and synergy between different government administrations. He raised the prospect of providing incentives such as tax holidays to private companies to encourage their participation in the region's development projects. However, he noted that agencies like the Investments Promotions Council and entities regulating special economic zones are better positioned to offer such incentives. Minister Umana stressed that while the NDDC can collaborate with these agencies, its primary focus should remain on addressing the region's development needs. In terms of collaboration with state governments, Minister Umana underscored the importance of viewing the NDDC as a partner rather than a competitor. He called for enhanced cooperation between the NDDC and state governments throughout the budgetary process, from formulation to implementation, monitoring, and review. The Minister expressed confidence that the new approach to partnership and collaboration between the NDDC and state governments is progressing positively, setting a foundation for sustainable development in the Niger Delta.