FG Targets Global Funding for Regional Development

The Federal Government of Nigeria is focusing on leveraging international funding and public-private partnerships (PPP) to drive regional development as part of a broader strategy to unlock the economic potential of Nigeria's regions. This initiative was highlighted during a two-day retreat organized by the Ministry of Regional Development in Benin City, Edo State.

The retreat underscored the urgent need for regional development commissions to align project proposals with sustainable development goals (SDGs) and climate resilience frameworks to attract international grants and concession financing. A communiqué issued from the retreat directed the establishment of a development finance partnership office responsible for sourcing and managing global funding opportunities.

The retreat, themed "Generating Fresh Ideas to Unlock Regional Potential," included key stakeholders such as National Assembly committee chairmen and senior government officials. Senator Mondai Okpebholo represented the Edo State government, while Hon. Denni Idahosa participated.

Engr. Abubakar Momoh, the Minister of Regional Development, reiterated the ministry's commitment to coordinated, results-oriented regional growth.