Nigeria, Japan sign N642m agreement on economic, social devt

By Benjamin Umuteme

Abuja

Nigeria and Japan yesterday signed a project agreement on economic and social development worth N642 million.
The amount would be provided by the government of Japan.
The Minister of Budget and National Planning, Senator Udoma Udo Udoma signed on behalf of the federal government, while Japan’s Ambassador Extraordinary and Plenipotentiary to Nigeria, His Excellency, Mr Sadanobu Kusaoke, signed on behalf of his home country.
The programme aims at exploring development strategies that will enhance competitiveness and support Nigeria’s poverty reduction efforts. It will also meant to improve standard of living and ensure environmental sustainability, which is in line with the development priorities of the Economic Recovery and Growth Plan (ERGP).
While signing the agreement, Senator Udoma expressed the government’s appreciation to Government of Japan for its numerous interventions in various sectors of the country’s economy in support of its development aspirations; and particularly for aligning its intervention programmes with the ERGP.
He cited the signing, last year, of an Exchange of Note (E/N) with the Government of Japan on Emergency Improvement of Electricity Supply Facilities in Abuja and commended the role Japan played in the development of the National Power Development Master-plan designed to guide government on the optimal energy mix and efficiency for the country.
The Minister also thanked the Japanese Government for the various technical assistance programmes offered in a wide range of skill-areas by that country’s government and the implementation of other grant projects and programmes nationwide through the Japan International Cooperation Agency (JICA).
“The Economic and Social Development programme for which we are here gathered this morning, is also one of such interventions in the sum of Y200,000,000.00 (approximately N642,204,315.79)”, the Minister noted.
He assured of the Nigerian government’s commitment to working more closely with the Government of Japan to achieve sustainable economic development for the country. “We will also continue to explore development options, strategies and paradigms that will engender more mutually beneficial collaborations in support of our long-term friendship”, he added.

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