|
Report Date : |
15.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NIGER DELTA BASIN DEVELOPMENT AUTHORITY
(NDBDA) |
|
|
|
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Registered Office : |
21, Azikwe Road, Port Harcourt, Rivers
State |
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Country : |
Nigeria |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Government Organization |
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Line of Business : |
The Authority is an Agricultural and Rural
Government Agency of Federal Government of Nigeria |
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made on
e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Nigeria |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
NIGERIA ECONOMIC OVERVIEW
Oil-rich Nigeria has been hobbled
by political instability, corruption, inadequate infrastructure, and poor
macroeconomic management, but in 2008 began pursuing economic reforms.
Nigeria's former military rulers failed to diversify the economy away from its
overdependence on the capital-intensive oil sector, which provides 95% of
foreign exchange earnings and about 80% of budgetary revenues. Following the
signing of an IMF stand-by agreement in August 2000, Nigeria received a
debt-restructuring deal from the Paris Club and a $1 billion credit from the
IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program
in April 2002, after failing to meet spending and exchange rate targets, making
it ineligible for additional debt forgiveness from the Paris Club. In November
2005, Abuja won Paris Club approval for a debt-relief deal that eliminated $18
billion of debt in exchange for $12 billion in payments - a total package worth
$30 billion of Nigeria's total $37 billion external debt. Since 2008 the
government has begun to show the political will to implement the
market-oriented reforms urged by the IMF, such as modernizing the banking
system, removing subsidies, and resolving regional disputes over the
distribution of earnings from the oil industry. GDP rose strongly in 2007-12
because of growth in non-oil sectors and robust global crude oil prices.
President JONATHAN has established an economic team that includes experienced
and reputable members and has announced plans to increase transparency,
diversify economic growth, and improve fiscal management. Lack of
infrastructure and slow implementation of reforms are key impediments to
growth. The government is working toward developing stronger public-private
partnerships for roads, agriculture, and power. Nigeria's financial sector was
hurt by the global financial and economic crises, but the Central Bank governor
has taken measures to restructure and strengthen the sector to include imposing
mandatory higher minimum capital requirements.
|
Source : CIA |
NIGER DELTA BASIN DEVELOPMENT AUTHORITY (NDBDA)
The Authority is an Agricultural and Rural
Government Agency of Federal Government of Nigeria.
Subject is located 21, Azikwe Road, Port Harcourt,
Rivers State, Nigeria.
ENQUIRY NAME: NIGERIA DELTA
BASIN DEVELOPMENT AUTHORITY
NAME: NIGER DELTA BASIN DEVELOPMENT AUTHORITY
HEAD OFFICE ADDRESS: 21, Azikwe Road, Port Harcourt, Rivers State,
Nigeria
PREVIOUS ADDRESS: Flat
G-Phase III, NDDC HQ Office & Secretariat Building, 167,
Aba
Road, Port Harcourt, Rivers State, Nigeria
POSTAL ADDRESS: PMB 5676, Port Harcourt, Rivers State, Nigeria
TELEPHONE: 234-84 230024
MOBILE: 234-802-827-1236, 806-737-1260
E-MAIL: ituruefe@yahoo.com
Currency: All monetary quoted in this report are in Nigerian Naira, the local currency or unless otherwise stated.
The exchange rate is N155 to 1 US $.
The organization belongs to Nigerian government and is not registered with Corporate Affairs Commission
(CAC).
BOARD OF DIRECTOR
/ MANAGEMENT:
|
S/N |
Name |
Position |
|
1. |
Hon. Emmanuel Edesiri Aguariavwodo |
Chairman (Delta State) |
|
2. |
Pastor Monwan Owoh Etete |
Member (Rivers State) |
|
3. |
Alhaji Mohammed Nafada |
Member (Gombe State) |
|
4. |
Charles Okoli Egumgbe |
Member (Enugu State) |
|
5. |
Hon. Sunny Uyigue |
Member (Edo State) |
|
6. |
Mrs Lydia Ocho Alfa |
Member (Kogi State) |
|
7. |
Nelson Chinyere Nwosu |
Member (Representative of Federal Ministry of Water Resources) |
|
8. |
Chief Nnaa Matthew Aleru |
Managing Director/CEO |
|
9. |
Engr. M.D Derefaka |
Executive Director (Engineering) |
|
10. |
Engr. D.M Ineife
|
Executive Director (Planning, Investigation & Design) |
|
11. |
Mr. M.C Azikiwe
|
Executive Director (Services) |
|
12 |
Efe Ituru |
Chief Program Analyst |
Our secondary sources revealed that the 1958
Nigeria Constitutional Conference agreed that a Niger Delta Development Board
should be established, and provision for its establishment was made in the
Nigeria (Constitution) (Amendment No. 2) Order in Council, 1959. The corporate office occupies two storey building painted
white and blue well fenced with a blue gate, there is a reservoir tank inside
the compound, the building is between United Bank for Africa and Isaac Boro
Park and it is located at 21, Azikwe Road,
Port Harcourt, Rivers State, Nigeria.
Since the colonial era, some policies and
programmes within national development plans have been formulated to address
the minority status, agitations and perceived marginalization of the people of
the Delta. But the recurring feeling in the region is
that it is often pushed aside within the Nigerian Federation. This is
particularly true for minority ethnic groups. The first major attempt to
address these grievances was in 1957, when the colonial administration set up
the Willink’s Commission of Inquiry to investigate the fears of minorities and
how to allay them. The Commission reported in 1958 that “the needs of those who
live in the creeks and swamps of the Niger Delta are very different from those
of the interior".
The Commission also noted that it is not
easy for a government or legislature operating from the inland to concern
itself or even fully understand the problems of a territory where
communications are so difficult, building so expensive and education so scanty
are so a country which is unlikely ever to be developed. Perhaps more
importantly the commission concluded a feeling of neglect and a lack of
understanding was widespread - a case has been made for special treatment of
this area. This is a matter that requires special effort because (the area) is
poor, backward and neglected. That conclusion is as true in the Niger Delta
today as it was in 1957. Be that as it may, the immediate post-independence
Government eventually responded to the Willink’s Report by setting up the Niger
Delta Development Board (NDDB) in 1961.
Nigeria currently has twelve river basin
development authorities, their creation commenced when the federal government
passed the River Basins Development Authorities Decree nos 32 and 33 of 14th
August 1973 to give legal backing to the establishment of the Chad and Sokoto -
Rima river basins development authorities. Subsequently, the river basins
development authorities decree no 25 of 15th June 1976 and the Niger Delta
Basin Development Authority Decree no 37 of 3rd August 1976 was also
promulgated.
These decrees created 11 River Basin
Authorities. In 1994, government approved the division of Niger Basin
Development Authority into Upper and Lower Niger Basin Development Authority,
thus bringing the number of river basin authorities to 12.
During our visit to Flat G-Phase III, NDDC HQ Office &
Secretariat Building, 167, Aba Road, Port Harcourt, Rivers State, Nigeria on 14th May, 2013, we were informed
that the authority is no longer at the premises. Meanwhile, one of the security
officers at the premises gave us the new address as 21, Azikwe Road, Port Harcourt, Rivers State, Nigeria.
We visited the new address but were denied access into the premises by the security officers on duty. According to them, the security situation in the country made the management to instruct them not to allow any visitor without prior appointment or clearance into the premises. When as if any of the officers can come out to attend to us, he claimed that the personnel who can attend to us was not around but confirmed that the address that came with the enquiry was their previous address before they moved to the current one. All efforts to gain access to the company in order to speak with someone proved abortive but he promised to deliver our enquiry to the appropriate hand and if they are interested they will get back to us.
Conclusion:
Based on our visit
to the address,
available information from our secondary sources and discussion held with
the security man at the gate, we
are of the view that the organization is owned by the Federal government of
Nigeria. As such, any business relationship with the organization should be
mutually beneficial.
PERFORMANCE TARGETS/CUSTOMER EXPECTATION
·
The
authority’s commitments are:
Close the gap between water requirement and supply up to 80% in the core Niger Delta area by the year 2007; Rehabilitate, upgrade and expand existing water extraction, treatment plant, distribution lines and infrastructures within the time fund is appropriated;
·
Carry
out appropriate studies within the limits of annual statutory appropriation to
ascertain the water requirement of the Authority area of jurisdiction;
·
Embark
on appropriate hydro-meteorological infrastructures and to ensure an efficient
monitoring of both surface and underground water level in the Authority’s area
of jurisdiction;
·
Produce
appropriate drainage and irrigation infrastructure for local farmers to boost
food production within the time fund is appropriated.
·
Construct
appropriate dams and reservoir infrastructure to store water for all year round
agricultural uses;
·
To
monitor the infrastructure already put in place for maintenance by the
users/beneficiaries to ensure sustainability and value for the investment;
·
To
train personnel on the use of the infrastructure/facilities; and
·
Work
through the Honourable Minster of Water Resources and to make input on the
funding requirement of the needed infrastructure for unhindered access to safe
water and sanitation in the Niger Delta.
PROJECTS
Small Scale Irrigation Projects
·
Anyama-Ogbia Irrigation
Farm (Bayelsa State)
·
Fando-Onopa
Irrigation Farm (Bayelsa State)
·
Isiokpo
Piggery/Irrigation Farm (Rivers State)
·
Kpong
Irrigation/Livestock Farm (Rivers State)
·
Eghwu Irrigation Farm (Delta
State)
·
Umuseti Utagba Uno
Irrigation farm (Delta State)
·
Egberu
Irrigation farm (Rivers State)
Isampou Rice Irrigation Project
· Studies and design completed by Summit Engineering Corp of USA with a grant from African Development Bank (ADB)
·
Phase
1 of 1300 ha surveyed and demarcated.
·
110
ha cleared of primary forest
·
Farm
house and parboiling house constructed.
·
A
mill house with one-tonne /hour mill installed and is operational.
·
Contract
awarded for the procurement and installation of 5-tonne/hour rice mill
·
Rehabilitation
of the pilot scheme, provision of access road and construction of a landing
jetty is in progress
·
20
ha pilot scheme is planted with rice
·
50
ha extension area also planted with rice by the participating farmers.
Ekporo Irrigation Project
· 105 ha acquired and surveyed
·
Crop
compensation fully paid
·
20
ha of pineapples of smooth cayenne variety planted.
·
Staff
quarters constructed
·
Borehole
with overhead tank provided for the farm and community
·
Additional
20 ha cleared and planted with cassavav Construction of farm house is 80%
completed
Peremabiri
Rice Irrigation Project
· At inception of this Authority within the late 1970s and early 1980s, 2500 ha were acquired and surveyed.
·
340
ha cleared of primary forest and developed for rice production
·
Basic
infrastructures including rice mills, staff quarters, silos, dykes and canals,
warehouse, workshop, plants and machinery of various sizes were put in place at
Peremabiri farm.
·
All
these structures and facilities were destroyed and looted at the wake of youths
restiveness in the Niger Delta.
·
In
2005, a tripartite Presidential Committee involving the Federal Government,
represented by the Federal Ministry of Water Resources and NDBDA, Bayelsa State
Government and Niger Delta Development Commission (NDDC) was formed and
empowered to rehabilitating the project. That committee has submitted an
updated report of the project to the ministry.
·
Construction of erosion control
structures at Opobo, Peterside and Degema had earlier been completed.
·
Constructions of drainage
structures are currently on-going in 20 locations.
·
Studies and designs for the
protection of Kaiama foreshores completed.
·
Canalization of Abalamabie Creek
completed
·
Reclamation of 2 ha of land and
dredging of the creek at Ogu (Phase I) was completed in 2010. The area was
sandfilled with 70,000m3 of sand.
·
Construction of Phase II of Ogu
erosion project is 90% completed
·
Construction of drainage
structures at Agbalabiriyai is 70% completed.
·
Underground Water Development/Rural Water Supply
Project
A total of 160 No. water schemes were developed in the Authority’s area of operation. Details of this are as shown below.
Rivers State:
·
Bunu-Tai,
Ngo, Omademe, Iloma, Abuloma, Afam-Ukwu, Iriebe, Green’s Town, Ogbulu-Ama,
Akpajo, Izeoma-Asa, Rumuowha, Sogho, Elem-Bekinkiri, Ohiagu, Abissa,
Umuajuloke, Amadi-Ama, Idama,Gure, Krakrama, Offeh, Rumuesara, Akinima,
Ngbola-Ndele ,Isiokpo, Ebubu ,Ogbo, Rumuji, Umunwuzi, Umuogba, Sime, Luwa,
Unyeada, Bolo Rumuekpe, , Emelego, Ogu, Anwunugboko, Eligbam, ,
Halliday-Ama, Old Bakana, Rumuonu, and Baa-Lueku, Ahoada, Ochigba, Emelego,
Ubima, Ndashi, Igbodo, Marihu-Ndoki, Kpite, Eteo, Okrika, Akinima, Edeoha,
Egwi, Ozuzu, Abarikpo, Opobo, Nkoro, Terabor, Buguma, Eneka, Umuoye, Ataba,
Rumuokwurushi, Emohua, Obite, Koroma., Nkpolu Oroworukwu, Aluu Abuloma,
Omerelu, Ogbogoro, Tema, Obonoma, Elele, Orazi, Ido, Angulama, Ipo,
Kere-Bargha, Taabaa, Kaa, Abam-Ama.
Bayelsa
State:
·
Okipiri,
Opokuma, Okokokiri ,Aleibiri, Eguema, Ayamasa, Ekperikiri Akassa, Agbere, Akaibiri, Kainyanbiri, Ekeowe, Sabatoru,
Bolo-Orua, Yeneka, Gbaraun, Ogodobiri, Onuebum, Okordi, Isampou, Anyama-Ogbia,
Kiama, Eteama, Azuzu Ama, Emeyal, Otuogigdi, Enewari, Igboyene, Anyama
Ebeli-Okirdi, Tungbo, Otuan, Zarama, Ekowe, Kolo Town, Ibelebiri, Otuabula II.
Delta
State:
·
Iyede,
Ukpude, Enekorogha, Edherie, Uro, Bomadi, Onhwe Enhwe, Mozei, Igbide,
Esanma, Bethel, Ivrogbo, Tamigbe Adobuo, Ivori, Orere, Ada-Ivory,
Ode-Itsekiri, Olomoro, Agolomo, Okpe, Burutu, Ogheye, Okoloba,
Kpakana,and Ezebiri, Effurun, Ibiride, Isiokpo, Uzere, Ozoro, Oru,
Orhoakpor, Orerokpe, Okpara Water Side. Uro Isoko, Edjekota, NDC Ozoro, Arade,
Iyede, Otibio, urude Irri, Olomoro, Etua-Oiogo Ndokwa, Aboh Olomoro, Etua
Oiogo Ndokwa, Aboh Ndokwa, Iselegu, Okpe Abovo
Twenty one locations have been
completed. They are:
·
Ahoada, Eneka,
B-Dere, Obeama – Asa, Atali, Opobo, Eleme, Umuagbai ,Ngo-Ndoni,
Degema, Bonny, Okparki, Nembe, Afam Ukwu, Krakrama, Ogbo, Eligbam,
Yeneka,Terabor,Edeoha, Marihu Ndoki, Abarikpo. Others are at various stages of
completion.
Water
Quality Control Project
· Within the 1980s a fully equipped laboratory was established within the Headquarters in Port Harcourt, where water samples were collected and analyzed.
·
Construction
of the 1st phase of the laboratory building completed.
·
Equipment
and reagents for the new laboratory have been procured. Some of the equipment
are awaiting installation
· Equipment for the production of table water procured and is awaiting installation
·
Construction
of the Water Processing Factory building completed awaiting commissioning.
NAFDAC has approved the plan and all necessary steps taken to produce the Table
Water in commercial quantity.
Eco Bank Nigeria Plc branch located at Port Harcourt, Rivers State,
Nigeria (234-84-237342-3)
The
Niger Delta Basin Development Authority is a service-oriented
organization that is positioned to meet the water requirements
of stakeholders in the most satisfactory and
cost-efficient manner, while ensuring good quality and sanitation and
paying adequate attention to the preservation of the ecosystem, using
proven technology and a well-motivated workforce.
The vision of the NDBDA is in consonance with that of the Federal Ministry of Water Resources i.e to harness efficiently and effectively the nation's water resources for multi-purpose uses in an integrated and sustainable manner to meet present and future needs. - particularly as it affects the Authority’s area of jurisdiction (Niger Delta Basin).
· Customers/stakeholders satisfaction
Provision of high quality of water and sanitation
Integrity; and
Commitment to service
The
service rendered impact on the lives of citizens particularly Nigerians living
in the core Niger Delta areas of Rivers, Delta and Bayelsa States
INTRA OR MINISTERIAL DEPARTMENT/AGENCY CUSTOMERS
Federal Ministry of Water Resources (Its
parent ministry)
Members of staff of Niger Delta Basin
Development Authority
INTER-MINISTERIAL/GOVERNMENT CUSTOMERS
Ministry, Department and Agency of Federal
Government
National
Assembly, the Judiciary, State Government and Local Government Authorities
PHYSICAL VISIT
Subject is not a profit making organization but government
establishment, as such, Audited Accounts was not available as at the time of
compiling this report.
Having carried out all necessary verifications on subject, our investigations revealed that Niger Delta Basin Authority (NDBDA) is located at 21, Azikwe Road, Port Harcourt, Rivers State, Nigeria.
All information contained in the report is from secondary sources only.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.83.67 |
|
Euro |
1 |
Rs.71.02 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.