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We're Focusing On Roads That Will Open Up The Economy- Fashola

Published

5 years ago

Oct 11, 2019.

– Minister of works and Housing, Babatunde Fashola said that the Government was focusing on roads that will open up economy
– The minister said that there were four multilateral-funded road projects, 81 under the Presidential Infrastructural Development Fund and 45 others being funded under the Sukuk bond
– He said that Nigeria would be back on its feet, if Government could ensure that there was no failure on roads that stretched from ports to border cities

The Minister of Works and Housing, Mr Babatunde Fashola has said that the ministry was focusing on roads that will open up the economy and contribute to the ease of doing business, following 524 road projects ongoing in different geo-political zones in the country.
Fashola made the statement while addressing the House of Representatives Committee on Works chaired by Rep. Ahmed Birchi in Abuja.
The minister said that there were four multilateral-funded road projects, 81 under the Presidential Infrastructural Development Fund and 45 others being funded under the Sukuk bond.
He said: “Nigeria would be back on its feet” if Government could ensure that there was no failure on roads that stretched from ports to border cities.
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“What remains is to finish; the real challenge for us and our recommendation is to adopt the policy statement of the president and focus on whatever resources we have towards completing as many of those projects as possible.”
He added that a funding gap of ₦255 billion was required to “ideally” fund some of the major roads and stressed that the ₦157 billion 2020 budget allocation was inadequate.
Fashola said that ₦2.93 billion was pending in unpaid certificates under the multilateral funded projects, while ₦306 billion was the amount for unpaid certificates for completed road projects.
On private sector investment in road projects, the minister, however cautioned that the Government “must not play politics” with such investment.”