FG to replenish Technical Cooperation Fund

The Directorate of Technical Cooperation for Africa (DTCA) has said that the Federal Government is set to replenish the Nigerian Technical Cooperation Fund (NTCF) to ensure its sustainability.

Shuaibu Suleiman, the Acting Director-General, DTCA, said this in an interview with the News Agency of Nigeria on Wednesday in Abuja.

Suleiman said that the 25 million-dollar fund instituted in 2004, was aimed at funding projects and programmes that would facilitate cooperation, integration and capacity building across Africa.

He said that the NTCF, established by the Federal Government, was accessible only by Africans and was disbursed through African Development Bank (AfDB).

He said that disbursing the fund through the AfDB also ensured the security and sustainability of the fund.

“One of the ways the fund is sustained is investment by AfDB; when you look at that fact that it is expended at the rate of $2.5 million a year, it means that out of the 10-year life cycle, there is a gain of two years.

“The Federal Government has the responsibility of replenishing the fund and we will soon start to put in place the process of doing so. Nigeria has the mechanism to disburse the fund but when it was constituted, there were a number of considerations.

“For instance, the need to insulate the fund from political interference and to ensure its safety. It is an international fund and therefore, we had to find an international institution that will guarantee security and safety of the funds such that whenever it is required, it is readily available.

“Nigeria is at the forefront of facilitating leadership for Africa; so, you would like to place your funds in a bank that would give that leverage.”

He said that the fund had so far generated an interest of more than $5 million, which would be added to it.

Suleiman explained that the fund had also been sustained through a monitoring mechanism put in place by the AfDB and allowing the approval of projects and programmes that were viable.

“We focus on projects that have a sustainability potential so that we do not begin a project that cannot carry on after the first funding.  “When consultants apply, we make sure that they also bring something to the table so that the level of commitment to the programme itself is insured.

“The AfDB has a monitoring mechanism; operations within the funds are audited every year by external auditors engaged by them. Nigeria also has an evaluation and monitoring mechanism as an establishment,” he said.

The director-general also explained that the challenges earlier faced in the disbursement of the fund had been resolved, adding that there was enhanced coordination between DTCA and AfDB.

“What brought about the lapses is DTCA and AfDB did not initially understand each other; this is the first time such a fund is co-managed, and this is so that Nigeria can have a grip on technical cooperation issues.

“In terms of sustainability, we have been able to resolve virtually all issues on operations and management of the fund,” he said.

Suleiman said that the initiation of the NTCF had enhanced Nigeria’s relations with Africa and facilitated the mandate of engaging African experts globally in the development of the continent.

He also said that virtually every African country had benefitted one way or the other from the fund, saying about $15 million had been expended since the implementation of the fund, adding: “we still have about $9 million.”

He said that the projects under the NTCF had helped to make conditions of living better in other countries around Nigeria, which also promoted the welfare of Nigerians.

He also said that a number of Nigerian consultants had benefitted from the implementation of projects and programmes under the fund.

“When our consultants go out there, they serve as technical ambassadors of Nigeria in terms of showcasing the country and promoting national interest,” he said.