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Nigerien leaders and their public and private partners met in Paris on November 5 and 6 to present the Economic and Social Development Plan 2022-2026. A 29.6 billion euro plan which aims to consolidate the foundations of the country’s development and radically transform its economy.
« Our ambition is to reduce the poverty rate from 43 % in 2022 at 35 % in 2026… »
For Mohamed Bazoum, the President of Niger, the PDES 2022-2026 is a vital necessity to enable his country to meet the major challenge of poverty. Faced with strong demography, agriculture still largely dependent on the climate, but also with security issues, Niger intends to invest in human capital, governance and the transformation of its economy. Rabiou Abdou, Niger’s planning minister, is the architect of the PDES.
« The transformation of the economy suggests the creation of industries from the raw materials that we produce, that is to say our silvo-agro-pastoral production. These industries will not only generate added value, which will feed public resources through tax collection, and above all create jobs for the youth that we are training by investing in human capital. »
A participation of the African Development Bank
Niger has quantified its plan at 29.6 billion euros. The State undertakes to provide 13.4 billion from its resources. It is hoping for 10 billion euros from its institutional partners and 6 billion from the private sector. The AfDB, the African Development Bank, has already taken out the checkbook.
Marie-Laure Akin-Olugbade, AfDB Vice-President: “ We propose to commit an amount of 1 500 billion CFA francs. These are new commitments in the field of infrastructure, such as transport and energy, in particular renewable energy ».
Decision-making aids for investors
France, the European Union, the World Bank, the Islamic Development Bank, but also many bilateral and multilateral partners have responded. Niger also relies on the private sector. The PDES offers investors a series of major turnkey industrial, energy or mining projects.
« For these projects, we conducted detailed feasibility studies. In all sizes. The economic, financial, environmental or societal dimensions. So, these feasibility studies being available, any investor can consult the different projects and immediately say to himself “if I put in so much, this is what I earn”. This work was supported by the World Bank and its subsidiary, the IFC. We therefore provide investors with decision-making aids », explains Rabiou Abdou.
These feasibility studies were entrusted to a major international audit firm. Niamey thus intends to put all the chances on its side.