FG seeks alternative funding for road projects.
The Federal Government is seeking alternative funding for road projects, saying that it requires ₦3 trillion to complete the ones awarded under the Nigeria National Petroleum Company Limited (NNPCL) tax credit scheme.
The Minister of Works, David Umahi, announced that President Bola Tinubu has directed the ministry to explore alternative sources of financing to ensure no project is abandoned due to the NNPCL's decision to halt funding from August 1.
He noted that several road projects are ongoing across the country, including the Benin-Warri, Benin-Asaba, Lagos-Ota-Abeokuta, and Bayelsa and Delta axis roads. Other projects include the Koton Karfe and Keffi bridges, Katsina-Ala Road project, Kabba-Ekiti road, and Benin bypass road, adding that emergency projects are also underway in the Northeast, including in Gombe, Bauchi to Azare area, and the Kano to Maiduguri Road.
In his remarks, the Minister of State for Works, Bello Goronyo, praised President Tinubu for his commitment to road infrastructure, saying it is a priority that can be felt, seen, and touched.
On his part, the Permanent Secretary of the Federal Ministry of Works, Olufunsho Adebiyi, while dispelling claims of marginalization, clarified that road project costs vary due to factors like terrain and material availability, stating that the ministry will prepare a memo to the President, exploring Public-Private Partnership (PPP) options for contractors with capacity and funding.
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