The Minister of Works, Power and Housing, Mr Babatunde Fashola said the Federal Government will require about N2 trillion to complete no new fewer than 226 ongoing road projects across the country.
FG needs N2trn to complete ongoing road projects – Babatunde Fashola
Fashola made this disclosure in Lagos while speaking at a Town Hall meeting organized to brief the public on the activities of the government in the last 11 months.
According to him, the total amount allocated to all the sectors under his ministry in the 2016 budget was less than N500billion and the government does not currently have enough resources to complete all the ongoing projects at present. Hence, some of the projects would be completed rather than for new ones to be started.
He said, “What the last administration did was to budget N18billion for all the roads in the country, knowing the liability was in excess of N2trilion. For the three sectors,that is Works, Housing and Power, the total budget by the last administration was N24.5billion. So, this administration decided to move away from that and that is why we have a figure that may not be enough, but substantial for the sectors.”