Don't Miss


Home   >   Business   >   Industries   >   Buhari pledges $1m for Africa’s water infrastructure

Buhari pledges $1m for Africa’s water infrastructure

By on November 29, 2015

President Muhammadu Buhari on Friday pledged the sum of $1m to the African Water Facility for the development of water infrastructure in Africa.

Buhari also stated that the financing requirement for water infrastructure in Africa was estimated at $20bn annually from year 2000 to 2025. He spoke at AWF 10th anniversary celebration held in Abuja.

The President, whose speech was read by the Minister of Water Resources, Mr. Suleiman Adamu, stated that the AWF’s mandate was to mobilise water investments for Africa, but stressed that the greatest challenge confronting that body was the need to secure adequate funds.

He said, “In fact, the funding gap is almost at a critical point. The AWF urgently needs to receive indication of pledges at this meeting today. I also use this opportunity to note that most of the pledges made by African countries in 2012 have not been paid up, with the sole exception of Burkina Faso. May I remind all of you of the importance of making good on these pledges.

“It is noteworthy, and especially to our development partners, that African countries greatly value the work of the AWF. As is our custom to take the lead in worthy causes, I am pleased to announce that the Nigerian government hereby pledges to contribute the sum of $1m.”

On the $20bn required annually for water development in Africa, Buhari stated that out of this sum, $10bn would be needed yearly from development partners, adding that the rest would be provided by local and private sector sources.

He said, “Current estimates suggest that actual flows are around 20 per cent of the estimated financing requirement. This is grossly inadequate and requires a major scaling up to safeguard Africa’s future.”

The President urged stakeholders to play their roles efficiently and enjoined African governments to accord increased priority to water sector in their budgetary allocations.

According to him, stakeholders in the water sector, as well as African governments, must continue to find ways of tapping some of the huge amount of funds within local financial and international capital markets and channeling these to investments in water security infrastructure.

He said, “Clearly, it is no longer acceptable that the African continent continues to utilise only four per cent of its water resources when a huge proportion of the people do not have access to safe water and when large populations are faced with frequent floods and drought, in addition to food and energy shortages.”

Buhari also informed the gathering that the AWF had provided an unparalleled opportunity to address the critical gaps that African countries face in the provision of water and sanitation to many needy people.

“Action is urgently needed, and I am confident that you will endorse the strategic planning process that the AWF is currently going through,” the President added.
[Punch]