Discover and read the best of Twitter Threads about #PIDFund

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Following through on his administration’s determination to upgrade and expand the nation’s stock of infrastructure, President @MBuhari will (tomorrow) Tuesday, commission seven legacy projects completed by the Federal Ministry of Works and Housing @FMWHNIG across the country.
Comprising three major Bridges, three Federal Secretariats and a Road, the historic event will be headlined by the Second Niger Bridge which was conceptualized in 2005.

In 2014, there was an attempt to begin the project through Public Private Partnership (PPP) but this was not……
Read 9 tweets
Project commissionings I’m looking forward to:

Second Niger Bridge
Loko-Oweto Bridge
700MW Zungeru Hydro Plant
40MW Kashimbila Hydro Plant

Almost completed:
Lagos-Ibadan Exp
Apapa-Oshodi-Oworo Exp

In progress:
AKK Gas Pipeline
This is exactly what @MBuhari has also been doing over the last couple of years, with #PIDFund #PPInigeria #ExecOrder7 #SukukBond #RailUPng etc etc
The list above is of course not an exclusive one. Not to talk of all the major projects already completed & commissioned—like the billion-dollar Lekki Deep Sea Port, 3 Inland Dry Ports, Lagos-Ibadan & Itakpe-Warri SGR, ~$20m NSIA healthcare investments (Lagos, Kano, Umuahia), etc
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Will share highlights from this new presentation, delivered yesterday in Kano, by @tundefashola, at the 28th Meeting of the National Council on Works.

(As far as memorable phrases go, he's a champ. "Incremental Power", and now "Season of Completion")
One of the biggest changes PMB has brought to road #infrastructure in Nigeria is in the area of financing. A lot more financing available for roads, highways, bridges under PMB than prev govts (even when oil prices were $100-avg for years). #PIDFund #Sukuk #ExecOrder7
In 2015, outgoing govt budget 18 billion for all the Federal roads in Nigeria - less than even Lagos' roads budget for the year

In 2016, with an even lower avg oil price, new Govt budgeted 260B, & released 198B = 76%

2020, inside Covid, 227B budgeted for roads, 100% released!
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Attending the @OfficialAPCNg Pre-Convention Policy Conference, on “Consolidating Democratic Change.”

Governors @kfayemi, @ProfZulum, Bagudu (Chair PGF) and Minister of Finance @ZShamsuna on the current Panel.

Former DG, PGF, Salihu Lukman moderating. #APCNationalConvention
I’ll try and livetweet using #APCPolicy22 as hashtag.
Minister @FinMinNigeria @ZShamsuna now speaking. #APCPolicy22
Read 24 tweets
Cost of Pres. @MBuhari’s #PIDFund projects:

1. Abuja-Kaduna-Zaria-Kano Expressway (375km): 797 Billion Naira

2. Second Niger Bridge (11.59km): 206 Billion Naira

3. Lagos-Ibadan Expressway (127km): 310 Billion Naira


#StateHouseBriefing #GovtAtWorkNG
When will the #PIDFund projects be completed?

According to BRF:

Lagos Ibadan Exp and Second Niger Bridge on course to be completed this year 2022.

Main Carriageway of Abuja-Kaduna-Zaria-Kano Exp scheduled for completion by Q2 2023; Ancillary works will be completed later.
Infrastructure = Jobs, Economic Growth, Investment.
Read 7 tweets

2017/18: Construction started on
—2nd Niger Bridge
—Lagos-Ibadan Expressway
—Lekki Deep Sea Port (private-sector-led)
—Abuja-Kaduna-Zaria-Kano Expressway
NSIA-Lekki Cancer Center

Also 2017/18: PMB established #PIDFund & @NigeriaGov raised first Sovereign Sukuks
For Lag-Ibadan, I’m referring to the construction contract that’s now completing it. Work started during GEJ, but their financing mechanism failed/legal issues arose & project had stalled by time PMB assumed office. It was estab of #PIDFund in 2018 that revived & is completing it
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.@NigeriaGov Policy Highlights of 2021, starting with the first half.

[Got myself reacquainted with Facebook in the last 6 months. Much of what will follow has already made its debut there]

A long-ish thread (might take time to finish because we’re in Ogun today for #PMBinOgun)
Signing Ceremony of OML 118 Agreements between @NNPCgroup and Contractor Parties (Shell, Exxon, TOTAL and NAOC), to settle longstanding disputes on the field and also renew production for twenty years. NNPC says the dispute resolution will unlock $10bn of new investment.
Digital Switch Over (DSO) launch in Lagos, marking the transition from analogue to digital television broadcasting in the country’s most populous State (and nation’s commercial hub).
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Update from @nsia_nigeria, on #PIDFund projects:

"As of year-end 2020, the original scope of 10.7km [of the] Second Niger Bridge is at 53% completion with a completion target of 2022."

"The Lagos-Ibadan Expressway is at 66% completion and is expected to be completed in 2022."
"The initial scope of Abuja-Kaduna-Kano Highway is at 66% completion. However please note that the scope of the project has been expanded from the rehabilitation of 92.5km along the 3 sections of the road, to full reconstruction of the entire stretch of 375km..." - @nsia_nigeria
"... as directed by Mr. President; this has extended the completion date. The NSIA is exploring options to shorten the completion timeline for the project." - @nsia_nigeria
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1/ For a so-called ‘accountability’ CSO, you guys can be extremely SLOPPY & IGNORANT. @nsia_nigeria—which manages the #PIDFund into which last year’s Abacha loot & this new Ibori Loot are deposited—publishes annual audited reports. Start there: 2019 report…
2/ Every year @nsia_nigeria - Fund & Investment Manager for #PIDFund publishes annual reports. 2020 report not out yet but will be published. What kind of operation is @SERAPNigeria running if these basic facts are not available to you?Don’t you have researchers?Are you learners?
3/ This social media Agberoism that @SERAPNigeria does is great for Retweets & clout. But it’s useless as an actual means of generating the accountability they claim to seek. It’s also a way of avoiding the real hard work. It’s LAZY, & a disservice to your supporters and funders.
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President @MBuhari has approved the establishment of a Public Private Partnership styled Infrastructure company named Infra-Co with an initial seed capital of N1 Trillion. It is envisaged that, over time, the entity will grow to N15 Trillion in assets and capital.

Infra-Co will be one of the premier infrastructure finance entities in Africa and will be wholly dedicated to Nigeria’s infrastructure development. The entity has been developed with concept designs from the National Economic Council (NEC) and the Central Bank of Nigeria @cenbank
The President had asked Vice President @ProfOsinbajo to chair a Steering Committee tasked with setting up the company.
The initial seed capital for the entity will come from @cenbank, @nsia_nigeria and the Africa Finance Corporation.
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In the last four days the Minister of @FMWHNIG, @tundefashola and other senior government officials have visited the 3 flagship projects under the Presidential Infrastructure Development Fund #PIDFund and assured of President @MBuhari’s commitment to completing all three by 2023.
The Project Update Inspection Tour started with the Abuja-Kaduna-Zaria-Kano Dual Carriageway (under reconstruction) on Thursday November 19, 2020. The Chief of Staff to the President, Prof Ibrahim Gambari, led a delegation that held a Town Hall Meeting with project stakeholders.
On Friday November 20, the Minister of @FMWHNIG, @tundefashola carried out a Project Update Inspection of the Main Works and Associated Infrastructure of the Second Niger Bridge Project in Anambra and Delta States, and also held a Town Hall Meeting with Stakeholders.
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I often see people on my TL saying FG is doing all its infrastructure work in the South, and others who insist the North is getting preferential treatment

That’s Nigeria for you in a nutshell. Constantly fueled by a sense of marginalization that is autonomous of reality

You will share news that a Port is being developed in the Niger Delta and someone from somewhere will say why isn’t the FG doing the same (ie building a Sea Port) in {insert sea-less Northern State} 😀
If you do communications for the Federal Government (& if you plan to do this anytime in the future),keep this in mind, that you will always have to deal with the people for whom alleging ‘project’ marginalization is a full-time job. It’s a big part of personal identity for many.
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National Infrastructure: (not an exhaustive list)

#PIDFund has 3 projects (1 SW, 1 SE/SS, 1 NC/NW)

#SukukBond projects - each geopolitical zone gets the same share of money

NSIA Health projects: 1 SW, 1 SE, 1 NW

Kashimbila & Mambilla Power Plants: NE

Bodo-Bonny Bridge: SS
.@realREANigeria’s #EnergizingEducation prog is ongoing (Phase 1) in 8 locations across the country: Kano, Sokoto, Bauchi, Benue, Anambra, Delta, Lagos, Osun

Point I’m trying to make is there’s a deliberate + determined effort to make sure every part of Nigeria equitably touched
River Niger getting one new bridge, River Benue also getting one (Loko-Oweto). That’s the spirit. Do here do there. #infrastructure
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Today @NigeriaGov commissioned its NSIA—Umuahia Diagnostic Centre (NUDC), a US$5.5m investment by @nsia_nigeria in radiology and diagnostic services, in Umuahia, Abia State. This is coming after the $11m investment in a Cancer Center in Lagos, commissioned last year. ImageImageImageImage
A similar Diagnostic Center built by the NSIA - the NSIA—Kano Diagnostic Center (NKDC), also a US$5.5m investment - opened at Aminu Kano Teaching Hospital (AKTH), Kano, in March 2020.
Virtual commissioning ceremony of the NUDC by @GovernorIkpeazu, Governor of Abia State; @ZShamsuna, Minister @FinMinNigeria; @DrAOMamora, Minister of State for Health; Clem Agba, Minister of State for Budget and National Planning; and @nsia_nigeria MD/CEO Uche Orji. ImageImageImageImage
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LOOL. This is the sort of stuff that irritates me. If you don’t know how to read a financial statement, ask questions! Or just off your mic. Don’t embarrass your education!

FACTS ONLY: @nsia_nigeria has spent MORE THAN 90 BILLION NAIRA on 2nd Niger Bridge in the last 20 months!
What sort of blatant & shameless financial illiteracy is this? Do you think “Payables” means how much has been spent on the project?

All the work done before our eyes since 2018 - and I’ve done several visual threads - does that look like N18 billion work to you @ELoka? 😂
WTAF really? Why speak nonsense with so much confidence. Think of the schools you attended, the education you got, the monies you spent. For the sake of all, respect yourself. Ask questions if not clear. Don’t let me see this kind of rubbish tweet again eh, @Eloka51.
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Still on Infrastructure: apart from #PIDFund, there are a couple of other important infrastructure initiatives by the Buhari Administration. One of them is #ExecutiveOrder7; one of the EO7 projects is a road & series of bridges linking Bonny Island to the Mainland. Rivers State.
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