Nigeria’s Road Projects Get New Lease on Life

Under the Nigerian National Petroleum Corporation Limited (NNPCL) tax credit scheme, President Bola Tinubu has ordered the Ministry of Works to investigate other sources of funding for the completion of road construction initiatives. David Umahi, Minister of Works, revealed this information during a press conference on the advancement of road projects around the six geo-political zones of the nation.

 Under the tax credit policy, the NNPCL’s road projects scheme, which was authorised by the prior administration in 2023, calls for a 1.9 trillion-naira investment in the reconstruction of 44 federal roads. But the ministry had the task of finishing the projects as NNPCL terminated financing for them beginning August 1.

 Umahi said the ministry needs 3 trillion naira to finish all the road projects that are going on now. She also said that no project will be stopped. He underlined that participation should be avoided for contractors lacking the ability to complete contracts of such complexity and cautioned that the ministry would not accept any dishonesty. “We will not leave the fate of our people in the hands of anybody that wants to play games,” he said.

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The minister emphasized that every road work fits with President Tinubu‘s Renewed Hope Agenda, which gives first importance to evaluating and finishing projects. He guaranteed that alternative sources of money will be used to guarantee the completion of the projects. Mr. President has directed that no NNPCL project should stop, and that alternative funding mechanism will be put in place to do it, Umahi stated.

 Including public-private partnerships (PPPs), the ministry is gathering a list of projects eligible for alternative financing. Umahi made it clear that those without the ability to carry out the work would be left out, but those with the means and ability would be taken into account.

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  • Abdulateef Ahmed

    Abdulateef Ahmed, Digital News Editor and; Research Lead, is a self-driven researcher with exceptional editorial skills. He's a literary bon vivant keenly interested in green energy, food systems, mining, macroeconomics, big data, African political economy, and aviation..

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