Business
FG Tasks River Basin Authorities On Power
Nigeria’s power generation capacity may soon be expanded through a renewed mandate to the nation’s River Basin Development Authorities (RBDAs) to rev-up production of electricity, through their respective facilities across the country.
Already, the Minister of Water Resources, Chief Obadiah Ando, has given directive to the RBDAs, on the issue.
Managing Director of Hadejia-Jama’are River Basin Development Authority, Mr. Sanusi Abdullahi, who told newsmen about the directive in Abuja, on Wednesday, said it was part of efforts to improve on power generation in the country.
The RBDAs also have the mandate to enhance food and power supply across the country.
Abdullahi said that Ando also gave the RBDAs a roadmap to guide the implementation of their mandates and the execution of their projects.
The Managing Director expressed optimism that the roadmap would be implemented to transform the rural areas through power generation to enhance development as well as to create wealth.
He said that the roadmap was a reminder of the mandate of the RBDAs and that it should have been produced long ago.
He said: “But only now, God has given the minister the wisdom and ability to convince Mr. President to actualise this and we are going to actualise it in phases as it were in the document.
“It is not going to be in one go, it’s going to be in phases, but the essential thing there is to provide quality, clean, affordable water for our people, then of course, power, irrigation, livestock development, fisheries and the rest of them.”
Abdullahi, however, called for more support from all the stakeholders to implement the projects fully to achieve food sufficiency among others.
He said that the Basins needed more support from government, adding that if they had more support, they could make farmers to be more productive and be happier.
“If government is able to improve access to resources, this will help us to provide essential input for stakeholders and by so doing, things will be better,” Sanusi said.
The 12 RBDAs, established in 1976 to ensure a nationwide systematic and consistent programme of integrated water resources development and management, were also set up to achieve socio-economic development of the nation through project execution.
The facility will be disbursed through participating Microfinance Institutions (MFIs), which will in turn extend the loans to their customers, particularly SMEs, as they directly interface with businesses at the grassroots level.
The Executive Director of COMCIN, Mr. Micheal Ogbaa who represented the Chairman, Dr. Iredele Oyedele (FCA, FCCA), said the initiative is designed to strengthen micro-lending institutions and expand access to finance for grassroots entrepreneurs, particularly women and youths in the informal sector.
Ogbaa explained that COMCIN does not lend directly to individuals but works through its network of microfinance and cooperative institutions, which in turn provide loans to end users.
“We came together to advocate for the microfinance ecosystem. Commercial banks often exclude people at the grassroots, but our members are positioned to reach them. This facility will empower them to do more,” he said.
He noted that the loan scheme offers low interest rates and flexible repayment plans, making it more accessible to small business owners.
According to him, about 90 percent of beneficiaries are expected to be women, who play a key role in sustaining families and driving economic activities at the local level.
“Our focus is on traders, service providers, and players in the informal sector. These are the real movers of the economy. By supporting them, we are strengthening families and contributing to national development,” he added.
Ogbaa disclosed that eligible SMEs with proven integrity and business track records could access up to N5 million each through participating micro-lending institutions. The rollout has commenced in Lagos and will extend to Abuja, Enugu, and other regions, including the South-West, South-East, and North-East.
He said 12 micro-lending institutions have already benefited from the scheme, while 85 applications are currently being processed under the pilot phase.
“Our target is to reach at least 100,000 SMEs nationwide. We are building a platform that connects funding partners with credible micro-lending institutions, creating a reliable channel for financial inclusion,” Ogbaa said.
He added that COMCIN is also working to attract larger funding pools from development finance institutions and private investors, noting that successful implementation of the pilot phase would boost confidence and unlock more capital for SMEs.
“We have seen encouraging testimonies from early beneficiaries. As we demonstrate transparency and efficiency, more institutions will be willing to channel funds through us,” he said.
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