The Nigerian Government is to spend over seven trillion Naira for the construction of eight hundred and fifty-four highway contracts across six geo-political zones of the country in the next two years.
Minister of Works and Housing Mr.
Babatunde Fashola, who announced this while defending the ministry’s 2022 budget proposal before the House of Representatives Committee on Works said priority would be given to road projects and bridges leading to Ports and major Agricultural hubs attracting vehicles carrying heavy goods in the zones.
Babatunde Fashola also confirmed that of the total contracts, the ministry has identified some strategic projects that have attained an appreciable percentage and slated them for completion within the 2021 to 2023 fiscal year.
He said “the projects are expected to be financed through the Presidential Infrastructure Fund, Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Sovereign Sukuk Fund, Multilateral Loans among others.
In view of the critical condition of some bridges constructed over 20 years, the ministry has undertaken the rehabilitation of Murtala Muhammad bridge at Koton Karfe along Lokojo-Abuja road, Makurdi bridge along Makurdi-Lafia road, The third mainland bridge among others.
The Chairman of the Committee, Abubakar Kabir urged all the government’s Ministries, Departments and Agencies to come up with creative and innovative ways of generating more revenue for funding the budget.
Kabir who commended the government for various interventions in infrastructure development said “finding an alternative source of funding will reduce the infrastructure deficit and ensure vibrant economy for the country.
The committee Chairman gave assurance to the Minister of the House’s determination to ensure that the ministry gets enough resources to discharge its responsibilities in line with the Legislative Agenda of the 9th Assembly.
Government Spends Over Seven Trillion Naira On Road -Minister