Nigerian Govt requires over N19trn to complete inherited road projects

10/29/2024 5

The Minister of Works, David Umahi, has disclosed that the pressure on the naira in the foreign exchange market and the removal of fuel subsidy have impacted earlier projections of what the Federal Government would need to complete inherited ongoing road projects nationwide.

Umahi stated this on Monday at a press briefing, noting that President Bola Tinubu’s administration would now require over N19 trillion to complete these projects, which according to him represents an increase of N3 trillion over the N16 trillion projected for the projects as of August 2024.

Addressing the media, the minister explained that these issues have continued to affect the ministry’s activities regarding project delivery, while further explaining that the President decided to keep all projects active, hoping to secure funding from internal and external sources, including loans, because of his concern for Nigerians’ well-being

Written by: bossgmsi

Rate it

News

Defence Minister directs CDS to provide security

The Minister of Defence, Mohammed Badaru, has directed the Chief of Defence Staff, Christopher Musa, to ensure that adequate security is provided for the repairs of the affected electricity towers in the country. According to reports, the grid collapse had resulted in widespread power outages across Northern Nigeria, causing significant socioeconomic disruption in the region. The minister issued the directives in conformity with President Bola Tinubu, who showed concern over […]

10/29/2024 3