Nigeria signs N188m deal with Islamic development bank

The Nigerian government has signed a N188m-deal with the Islamic Development Bank, ISDB.

The deal was concluded and signed at the 44th ISDB Group Annual Meeting in Marrakesh, Morocco, on Sunday.

Zainab Ahmed, the minister of finance, disclosed this on Sunday in a statement by Paul Abechi, her special adviser on media and communications.

National Hajj Commission of Nigeria (NAHCON) will get $243,823 (N87.8 million) as the country sealed a $523,823 (N188,576,280) Technical Assistant Agreement grant with the Islamic Development Bank (ISDB) Group.

According to the statement, the minister signed the agreement on behalf of the Nigerian Government while Bandar Hajjar, president of the ISDB Group, signed on behalf of the group.

The signing took place during the 44th ISDB Group Annual Meeting held in Marrakesh, with the theme, ‘Transformation In A Fast-Changing World: The Road To SDGs’.

The statement reads, “TA agreement grants would be used to address capacity building and equipment, as well as logistics upgrade in the Hajj Commission.

“The National Hajj Commission of Nigeria would get $243,823.0, while the federal ministry of industry, trade and investment would receive $280,000.

“The Technical Assistant Agreement Grant of $243,823.0 to the National Hajj Commission of Nigeria is for capacity building/equipment and logistics upgrade.

“TA grant of $280,000 to the Federal Ministry of Industry Trade and Investment is for the improvement of cotton, textile and garment value chain.

“State governments in Nigeria are adopting cluster farming which has eased access to funds by farmers, increased growth and allows access to facilities without collateral.”