The Niger Delta Development Commission (NDDC) has signed a Memorandum of Understanding (MoU) worth over $15 billion with Atlanta Global Resources Inc, an infrastructure project financing firm based in Georgia, United States of America.
The deal is for the construction of a mega rail line that would connect the nine states in the Niger Delta Region that make up NDDC key focus area and ease the infrastructure deficit in the oil-rich region.
The Niger Delta comprises Abia, Akwa Ibom, Bayelsa, Delta, Edo, Rivers, Ondo, Imo and Cross River states
The two parties signed the MoU Tuesday in Lagos, at a one-day NDDC PPP 2023 Summit, with theme, “Rewind to Rebirth: Building a Sustainable Future through Public Private Partnership for Progress in the Niger Delta.”
NDDC Managing Director, Chief Samuel Ogbuku, said the deal with the American company was history in the making. Ogbuku added that it was the first harvest of the PPP approach.
