Business
Agency Executes 5,464 Projects In 26 States
The Community and
Social Development Project, a World Bank-assisted programme, has established 5,464 multi-sectors micro-projects across 26 participating states in the country.
The programmes’s National Coordinator, Mr Chukwudi Onuoha said this recently in Abuja, during a media presentation of the programme’s achievements from 2009 to June 2013.
The coordinator said that all 5,464 projects were completed and functional in these communities while additional 1,701 micro-projects were ongoing.
“In the education sector, 1413 micro-projects are completed and in use resulting in 49,057 new enrolments which include 27,371 male and 21,686 female.
“As a result of this, the average time taken to get to school has reduced from 55 minutes to 25 minutes while the distance to school has reduced from four kilometres to 1.13 kilometres.
“More so, we have an increase of 8,236 new students in science classes.
“In the water sector, 1,998 micro projects are completed and in use which means that 77.52 per cent of community members in those communities have access to good drinking water.
“Distance to source of potable water has reduced from three kilometres to 0.6 kilometres; the time taken to source potable water has also reduced from 30 minutes to 24.6 minutes and we now have 61.34 per cent reduction in cost of potable water.”
Onuoha said the micro projects were also executed in the health, transport and environment sectors.
He said that the projects would empower youths, women, the aged, children and other vulnerable groups.
He said that the projects would play significant role in an effort to fight poverty through access to improved social and natural resource infrastructural facilities.
The Tide recalls that the Community and Social Development Project (CSD), a five year programme, began in 2009 and will end in December.
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Blue Economy: Minister Seeks Lifeline In Blue Bond Amid Budget Squeeze

Ministry of Marine and Blue Economy is seeking new funding to implement its ambitious 10-year policy, with officials acknowledging that public funding is insufficient for the scale of transformation envisioned.
Adegboyega Oyetola, said finance is the “lever that will attract long-term and progressive capital critical” and determine whether the ministry’s goals take off.
“Resources we currently receive from the national budget are grossly inadequate compared to the enormous responsibility before the ministry and sector,” he warned.
He described public funding not as charity but as “seed capital” that would unlock private investment adding that without it, Nigeria risks falling behind its neighbours while billions of naira continue to leak abroad through freight payments on foreign vessels.
He said “We have N24.6 trillion in pension assets, with 5 percent set aside for sustainability, including blue and green bonds,” he told stakeholders. “Each time green bonds have been issued, they have been oversubscribed. The money is there. The question is, how do you then get this money?”
The NGX reckons that once incorporated into the national budget, the Debt Management Office could issue the bonds, attracting both domestic pension funds and international investors.
Yet even as officials push for creative financing, Oloruntola stressed that the first step remains legislative.
“Even the most innovative financial tools and private investments require a solid public funding base to thrive.
It would be noted that with government funding inadequate, the ministry and capital market operators see bonds as alternative financing.
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