The federal government has urged the North East Development Commission (NEDC) to focus on investment opportunities and ensure the timely delivery of projects in the North East region to drive national development.
Minister of Regional Development, Engr. Abubakar Momoh, made the call yesterday in Abuja during an interactive session with the management and board of the NEDC.
He emphasized the importance of strategic investment as a means to prevent fund depreciation and avoid project abandonment.
“I think it’s an area you need to look into. There’s nothing stopping you from setting up an investment corporation. If you have money and leave it idle, it depreciates. But if you invest it over time, you’re likely to maintain or even grow its value,” Momoh said.
He cited procurement delays as a challenge, noting that the cost of vehicles the commission plans to purchase has significantly increased compared to what it would have cost eight or nine months ago.
The minister also urged the NEDC to prioritise projects it can realistically initiate and complete within a set timeframe. He assured the commission of the ministry’s support to ensure its success for the benefit of all Nigerians.
“I want to appeal to you to focus on those activities you know you can start and finish in good time, and also take credit for. And for us in the ministry, we take credit as well—because if you fail, God forbid, we’ll also be seen as having failed in our assignments.
“If the person you’re expected to supervise doesn’t perform, the supervisor is also held accountable. But if you do well, we all share in the credit. That needs to be clearly understood,” he added.
He further encouraged the commission to concentrate on high-impact projects, even if it’s just one major initiative over the next two or three years.
He said such an approach would boost the commission’s credibility and align with the administration’s eight priority areas.
In his response, Mohammed Alkali, the MD/CEO of NEDC, said the commission is actively working in accordance with its master plan, which includes recovery and stabilisation, resettlement, expansion, and sustainable growth.
Also speaking, NEDC chairman, Paul Tarfa reaffirmed the commission’s unwavering commitment to working closely with the Ministry of Regional Development in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
“We fully recognize the pivotal role that coordination and strategic alignment play in the successful delivery of our mandate. In this regard, we are resolutely aligned with the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu—a national vision centred on inclusive growth, sustainable development, and improved welfare for all Nigerians,” Tarfa stated.
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