Federal Government is to spend over 7 trillion for the construction of 854 highway contracts across six geo political zones in the country.
Minister of Works and housing Mr Babatunde Fashola, announced this while defending the ministry’s 2022 budget proposal before the house of Representatives Commitee on works and housing.
Mr Babatunde Fashola, told the committee that the priority will be road projects and bridges leading to Ports and major Agricultural hubs attracting vehicles carrying heavy goods in the zones.
The minister 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 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.
The minister maintained that in view of the critical condition of some bridges constructed over 20 years, the ministry has undertook 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.
In his remark, the Chairman house Commitee on Works and housing Alhaji Abubakar Kabir, expressed satisfaction with the performance of the ministry for executing relevant projects despite the existing financial constraints.
The committee Chairman who assured the minister of the house determination to ensure the ministry attain it’s financial independence, called on the agencies under it to create more avenues of revenue generation for economic growth
SALIHU TSIBIRI