FG to establish development bank in Niger Delta, says NDDC MD

Nsima Ekere, managing director of Niger Delta Development Commission (NDDC), says the federal government is working to establish a development bank in the oil-rich region.

According to THISDAY, Ekere said this while speaking at a meeting with representatives of youth groups and ex-agitators from the Niger Delta on Wednesday.

He said the young people of the Niger Delta region will be able to use resources from the bank to engage in the refining of crude oil.

“The challenge will be how the youth of the region will get enough money to buy into these modular refineries. Federal government has mandated the NDDC to work out the modalities with the ministry of petroleum resources,” Ekere said.

“We want to ensure that whether the youth have money or not, they can key into this. So, we are going to set up a Niger Delta Development Bank to drive the development of the region. And inter-ministerial committee has also been set up in the presidency to look into all the issues raised during the visit of the vice president to the region.

“Instead of doing the small illegal refineries, government wants to help us with the technology to do this bigger so that we will be involved in refining in such a way that the environment will not be destroyed.”

He also said the NDDC would develop “human capital” in the region by focusing on young people.

“The major reason for the meeting with the youths is to rub minds and agree on a sustainable economic empowerment for youths of the Niger Delta. When we talk about empowerment, it is not about giving money. We will not give you fish but we will teach you how to fish,” the NDDC MD said.

“The NDDC has been mandated by the federal government to work out the framework with the federal ministry of petroleum resources, so that youths of communities in the Niger Delta will be empowered through the establishment of modular refineries.”