A New Bank Is Coming To Nigeria
Nigeria’s commercial bank family will soon admit a new member when the Niger Delta Development Commission (NDDC) sets up a bank as part of measures to sustain its mandate beyond oil.
This is even as the commission has also resolved to connect the Niger Delta region with fibre optic cable to ensure robust and fast internet connectivity to drive Information Technology.
"We are working on setting up Niger Delta Development Bank to midwife and sustain the development," Mr Victor Ndoma-Egba, the Chairman of NDDC told the News Agency of Nigeria during a visit.
Ndoma Egba said most big projects in the region should be driven by the bank and that the bank would come handy when oil revenue becomes insufficient.
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On the optic fibre project, he explained: “If we guarantee fast and reliable internet connectivity, it will create a new line of development that will generate employment".
He also explained that the commission would re-create sports for which the region was noted and endowed.
"We want to engage our young men and women competitively. It is regrettable that we are not looking like Dubai or Bahrain with the amount of money we get.
"We are marketing militancy of destruction instead of militancy of development. We want to move from destructive militancy to development militancy. We want to be more creative in militancy," he said.
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