Northern governors unveil N6bn regional economic recovery plan

The Northern States Governors’ Forum (NSGF) has created a joint financial institution worth N6billion to serve as a vehicle for the region’s economic recovery and development.

Gov. Kassim Shettima of Borno and out-going Chairman of the Forum made this known while highlighting his achievements in the last four years on Friday in Kaduna. He said the initiative was part of the efforts to make the region attain some degree of financial independence.

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He said under the scheme, the region’s moribund textile industry and New Nigeria Development Company (NNDC) would be revived. Shettima said the fund expected to be contributed by all the 19 northern governors of the region had so far realised 650 million naira.

“In pursuance of these objectives, each state is to contribute N50 million monthly for a period of six months. So far, we have N650 million out of the expected N5.7 billion. I am therefore calling on states that are yet to fulfil their pledge, to do so, in order to enable us to embark on the implementation of the various programmes and projects articulated under the scheme.

“These include the establishment of a renewable energy plant, capable of generating 3000 – 4000MW of electricity. The forum has also taken pragmatic initiatives to resuscitate the New Nigeria Development Company (NNDC) to restore it to its position as the business and economic live-wire of the region,’’ he said.

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