Buhari, UN Sec-Gen to raise $50bn to recharge Lake Chad
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President Muhammadu Buhari has welcomed the acceptance of the United Nations Secretary-General, Antonio Guterres to co-chair a Special Session to raise $50 billion to fund the inter-basin water transfer from Central Africa to revive the Lake Chad, the presidency said in a statement, Tuesday.
Receiving the response of the Secretary-General to his earlier letter through the President of the African Development Bank, ADB, Nigeria’s Dr. Akinwumi Adesina at the State House, Abuja on Tuesday, President Buhari said such a Special Forum was necessary in view of the size of capital required for the project which was unavailable to the Lake Chad Basin countries.
Addressing issues directly related to the ADB, the President expressed delight with successes recorded in the four years of Dr Adesina’s tenure at the Bank.
The statement signed by Buhari’s spokesman, Garba Shehu, said, the president specifically cited the Bank’s contribution to the growth of Nigeria’s agriculture and infrastructure, and commended what he called “its critical gesture in 2016 during the difficult period of economic recession through the issuance of USD600 million budget support facility.”