FG Secures N1.16 Billion World Bank Loan To Rehabilitate Obudu Dam

FG Secures N1.16 Billion World Bank Loan To Rehabilitate Obudu Dam

The Federal Executive Council on Wednesday approved a contract of N1.16 billion for the rehabilitation of Obudu dam in Cross River State.

Minister of Information, Labaran Maku, stated this in Abuja after the Council meeting presided over by President Goodluck Jonathan at the State House.

Maku said the funding of the project would be done through a loan from the International Development Association (IDA), an organ of the World Bank.

“The Minister of Water Resources brought this memo to enable Cross River State Government to carry out its regional urban water supply project which will cover four communities of Obudu, Ogoja, Ikom, and Calabar.

“The Cross River State Government has since 2005 gotten an International Development Association loan to develop a regional water scheme that will meet the needs of this communities in Cross River and because of the state of Obudu dam it has been impossible for that project to commence.

“So the Ministry of Water Resources today brought a memo to council to rehabilitate the Obudu Dam which will enable the state government to access this loan and quickly finish the project to ensure that the urban regional water project for Ikom, Ogoja, Obudu and Calabar is completed,” he said.

Maku explained that the dam, which belonged to the Federal Government, had been in a state of disrepair and needed urgent attention.

He added that the rehabilitation would enable the Cross River state government to carry out its regional urban water supply project that would cover four communities in the state.

Speaking in the same vein, the Minister of Water Resources, Mrs. Sarah Ochekpe, said that the role of the Federal Government was to stand as surety on behalf of the state for the loan.

She added that the loan was secured on liberal terms, but did not give details.

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