The Federal Government of Nigeria is seeking for a $500 million loan from World Bank for SPIN project.
The project is to improve dam safety and enhance water resource management in Nigeria. The project was proposed to be approved on September 26, 2024.
This loan is to provide water security challenges and to also boost agricultural productivity through the sustainable power and Irrigation for Nigeria project.
It includes developing national dam safety guidelines, training for water resources and irrigation management, and creating a comprehensive hydropower master plan.
This will enable the federal and state institutions to be responsible for water resource management.
According to a World Bank’s Project Information Document for the proposed project posted on its website on Monday, the SPIN project focuses on four critical areas, which include institutional strengthening and capacity building; irrigation modernisation; improvements in dam operations and safety; and project management.
The document read, “Nigeria faces water security challenges, which impact water availability for drinking water, energy and food production, and are increasingly exacerbated by climate change, putting livelihoods and economic development at risk. Harnessing water storage and dam safety is central to climate change adaptation and mitigation in Nigeria. It is a prerequisite to improving water management for water supply, irrigation, and hydropower generation and offers protection from floods and droughts.
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