Niger Delta Development Commission (NDDC), has declared its willingness to explore new funding patterns to boost the capacity of the interventionist agency to tackle the development challenges of the region.
Mr. Ibitoye Abosede, Director, Corporate Affairs of the commission, made this known yesterday in Abuja.
He quoted the managing director, Mr. Nsima Ekere, as saying this when a delegation from a South Korean firm paid him a courtesy visit at the commission’s headquarters, Port Harcourt, Rivers State, yesterday.
He reaffirmed the commission’s resolve to do things differently in its drive to fast track the development of Nigeria’s oil-rich region.
He said: “What you are offering is slightly different from what we are used to but we are ready to explore the opportunities in the new area.”
The NDDC boss thanked leaders of the Korean firm for showing interest in Nigeria and the Niger Delta, noting that the oil-producing region was in dire need of world-class infrastructure.
“Building infrastructure is an expensive venture and our access to fund is limited.
“Yet, we need funds to move faster. We are interested in working with you to provide the financing needed for our projects.
“We have no problem with the structure that you propose. We will sit down with you to work out the details,” he told the delegates.
Leader of the delegation and chairman of Kunwon International Construction Company Ltd. in Nigeria, Chief Chris Anyiam, said they were interested in bringing international funding to ensure that NDDC projects were executed promptly and at record time.
He noted that South Korea possessed the technology and resources to help in developing the Niger Delta.
He said they were willing to bring in the funds and were interested in bringing positive change to the region.
Chief Executive Officer of the South Korean construction company, Mr. Chris Kim, stated that as a global player, his firm was adept in project financing.
“We have a functional structure for putting funds together for projects. We need concrete projects and cash flow analysis to be able to access the funds at our disposal.
“We only need to be given an opportunity to prove our mettle as we already have a financing structure in place,” Kim declared.
He assured NDDC that his firm had the capacity and special technology that would help to execute projects faster.