21 February 2013: The “Innovative Funding of the Water Sector” Summit, hosted by Nigerian President Goodluck Jonathan, concluded with the commitment of the African Development Bank (AfDB) Group to enhance access to safe water and sanitation in urban and rural areas.

Organized by the Federal Ministry of Water Resources, the Summit was held in Abuja, Nigeria, from 18-19 February 2013. Attended by over 300 participants, the meeting produced a strategic framework that recognizes the key role of water and sanitation for national economic growth and development.

According to AfDB, Nigeria is one of the countries where potable water is scarce and demand is increasing due to its large population. With low-level of investments, the meeting highlighted the need to explore new funding sources for investment in the water sector, a central element in efforts to reach the Millennium Development Goals (MDGs).

Scaling up “promising pilots” was noted as a potential solution, while public-private partnerships were considered to be a crucial avenue to advance. In total, it is estimated that Nigeria requires US$1.91 billion annually to meet its water and sanitation targets. The AfDB’s water department (OWAS) and the Nigerian Field Office (NGFO) will work together in order to operationalize the meeting’s outcome. [AfDB Press Release] [Nigeria’s President Statement]