NEWS
FG needs N16trn to Complete Inherited Road Projects – Umahi
The Minister of Works, Mr David Umahi, says the Federal Government needs more than N16 trillion to complete inherited road projects nationwide.
Umahi made the disclosure when he briefed newsmen on the achievements of the ministry under the Renewed Hope Agenda of President Bola Tinubu on Thursday in Abuja.
He said that the present administration inherited a total of 18,932.
50 kilometres of ongoing road projects, with a total of 2,064 contracts.The minister said that the total value of all the ongoing projects as at May 2023 was N14.42 trillion.
He said that the amount certified was N4.73 trillion with N3.12 trillion paid and N1.61 trillion owed.
“The funding gap to complete all the inherited projects is about N13 trillion as at May 2023; that will be more than N16 trillion when all projects are reviewed in line with current market realities.
“This is due to the removal of fuel subsidies and the floating of the naira.
“It is a very sound economic decision by this administration, considering the fact that some of the projects have lingered for between five and eight years.
“Consequently, the projects are being reviewed to match current market realities; this position excludes all the new projects under the Renewed Hope Agenda and the four legacy projects,’’ Umahi said.
According to him, the old traditional method of funding highway projects was through the annual budgetary provision.
He said, however, that over the years, budget provisions had seemed inadequate to address the challenges of highway development.
Umahi stated that to meet up funding for road projects, the ministry embraced alternative funding mechanisms like the Presidential Infrastructure Development Fund (PIDF) and Sovereign SUKUK issued by the Debt Management Office (DMO).
The minister said that other funding included the Road Tax Credit Scheme (NNPCL, NLNG, Dangote, BUA, MIN, Mainstream Energy Solutions Ltd., and GZI Industries) and the use of multilateral loans.
Others are the Public Private Partnership (PPP)/Highway Development Management Initiative (HDMI) and the newly established Renewed Hope Infrastructure Funding model.
He said that 82 projects were approved under the SUKUK fund, with a total sum of N100 billion invested in road construction and rehabilitation in 2017.
Umahi added that the projects included N100 billion in 2018, N162.55 billion in 2020, and N210.56 billion in 2021; for 2,812 km of road, N110 billion was approved in 2022, and the approved 2023 SUKUK provision stood at N250 billion.
He said that the sum of N2.59 trillion was approved by the Federal Executive Council (FEC) for the funding of 65 highway projects under Phases I and II of the NNPCL Funding.
The minister said that the projects were to cover a total of 6,358 km, while the available funding for the projects up to 2025 was N2.59 trillion.
“The reviewed total contract sum due to inflation is N5.288 trillion.
“The funding gap for the completion of both phases I and II is N2.702 trillion.
“To date, the total payment made by NNPCL is in the sum of N840 billion, and the total outstanding funding approved by FEC is N1.750 trillion.
The projects are spread across the six geopolitical zones of the country,’’ he said.
The minister said that the ministry, under its statutory responsibilities over the federal road network, introduced the Highway Development and Management Initiative (HDMI) under the Public Private Partnership Unit (PPP).
He said that this was to attract sustainable investment and funding in the development of road infrastructure and maximise the use of assets along the Right of Way (ROW).
Umahi said that the idea behind the private sector engagement was to provide an alternative source of financing for road development and management.
He said that the HDMI was expected to, among other things, bring order, accountability, and profitable entrepreneurship to the operations, management, and maintenance of federal highways.
The minister said that the emergent concessionaires would recoup their investments through toll and non-toll revenues, as may be negotiated.
He added that four legacy highway projects were selected under the Renewed Hope Agenda of the current administration for implementation to improve road network and train service connectivity across the six geopolitical zones and boost socio-economic development.
Umahi listed the projects to include the Lagos-Calabar (750 km) Coastal Road Corridor, Sokoto-Badagry (1,068 km) Road, Calabar-Abuja Superhighway Project (482 km) (TransSaharan Road), and Akwanga-Jos-Bauchi-Gombe Road (439 km).
He said that the Renewed Hope mandate of the Federal Ministry of Works included the planning, design, construction, and maintenance of federal road infrastructure nationwide. (NAN)
Minister of the Federal Capital Territory (FCT), Mr. Nyesom Wike, has assured residents that security agencies are working around the clock to ensure the safety of lives and properties during the Eid-el-Kabir holidays and beyond.Wike made the statement in his Eid-el-Kabir message to FCT residents in Abuja on Thursday.
He emphasised that the FCT Administration would continue to maintain close collaboration with security operatives to keep Abuja safe and secure. “I am proud to say that Abuja remains the safest city in the country, and we are doing everything possible to keep it that way.“As we gather with family and friends in celebration, let us not forget the less privileged among us.“Let the spirit of Eid inspire us to share, uplift, and show kindness to those in need.“As you join millions around the world to celebrate this sacred occasion, we are reminded of the profound values embodied in Eid-el-Kabir, sacrifice, obedience, and unwavering faith, as exemplified by Prophet Ibrahim,” he said.The minister urged residents to reflect on the deeper meaning of submission to the will of Allah and to recommit themselves to compassion, generosity, and unity.According to him, the celebration is not only a spiritual milestone but also a time to renew the collective commitment to peace, tolerance, and mutual respect.He commended the Muslim community in the FCT for their enduring contributions to the growth and peaceful coexistence within the territory.“Your values and sense of community are integral to our shared progress,” he added.The minister also noted that President Bola Tinubu, through his “Renewed Hope Agenda,” had been working tirelessly to ease the burdens faced by the people.He highlighted the commendable progress made by the FCT Administration in infrastructure development, security enhancement, and social welfare interventions.“These efforts are all aimed at improving the quality of life for every resident of the FCT.“We owe the rapid development of the FCT to the unwavering support President Tinubu has given to the FCTA.“Therefore, I urge you to use this occasion to pray that the Almighty grants Tinubu good health and more guidance to lead the nation to greater heights.“In the coming days, we will begin commissioning a plethora of completed projects across the territory in celebration of Tinubu’s second year in office.“These are critical projects aimed at advancing healthcare, education, agriculture, transportation, and more sectors within the FCT.“They stand as visible proof of our commitment to delivering tangible, impactful change and building a capital city that reflects the hopes and aspirations of all Nigerians,” he said. (NAN)
President Bola Tinubu on Thursday paid tribute to Prof. Jibril Aminu, a respected academic and political leader, who died at the age of 85.Tinubu, who extended his condolences to the government and the people of Adamawa, described Aminu’s death as a profound loss to the nation.
In the tribute, Tinubu stated that the late professor left remarkable imprints in the sands of time: “May he find eternal rest in Aljana Firdaus. And may Allah forgive his sins. ”The President said Aminu, a professor of cardiology, was one of Nigeria’s most decorated medical professionals who straddled his profession and politics exceptionally, bringing erudition and brilliance to statecraft.“In his professional life, he earned many laurels for his grit, hard work, and expertise.He was a fellow of the Nigerian Academy of Science, a fellow of the Royal College of Physicians, London, a fellow of the West African College of Physicians, and a fellow of the Nigerian Postgraduate Medical College.He was also a Consultant in medicine, Senior Lecturer and Sub-Dean of clinical Studies at the University of Ibadan Medical School (1973–1975).Aminu was Executive Secretary of the National Universities Commission (1975–1979), visiting Professor of Medicine at Howard University College of Medicine in Washington DC (1979–1980), and Vice-Chancellor of the University of Maiduguri (1980–1985).He served meritoriously in public service as Nigeria’s ambassador to the United States from 1999 to 2003 and as senator representing Adamawa Central Senatorial District from 2003 to 2011.He also served as Minister of Education and then Petroleum and Mineral Resources (1989–1992).“He epitomised statesmanship and was committed to building a greater Nigeria,” Tinubu wrote. (NAN)
President Bola Tinubu says more funds would be committed to infrastructure development across the country.The president said this while inaugurating the Lekki Deep Sea Port Access Road at the Dangote Refinery and Petrochemical Plant in Lagos, Mr Bayo Onanuga, his spokesman, said in a statement.
The president said he was happy that the Deep Sea Port he initiated as governor of Lagos State had become a huge success. “Users save vast amounts of money using this port because they no longer need to trans-ship their goods. “I commend the quality of the access road done by Messrs Dangote Industries Limited on our Tax Credit Road programme and the subcontractor, Messrs Hitech Construction Company Limited,” Tinubu said.He commended the Federal Ministry of Works, Hitech Construction Company Limited, Dangote Industries Limited, BUA and all contractors involved in the country’s road development.The president said his administration was committed to building enduring infrastructure nationwide.He dismissed critics of the government’s legacy projects for being ignorant about how the government awarded the legacy roads to contractors.“It is necessary to note that the Federal Executive Council approved our legacy projects to be procured, awarded and constructed in sections.“The completed 30 km segment of the Lagos-Calabar Coastal Highway is part of the 47.7 km, six-lane Section I contract, not a wholesale 750 km contract, as some have suggested.” No contractor has been awarded the entire corridor.“Our approach has been systematic, transparent, and section-based.” The Sokoto-Badagry Superhighway envisioned 47 years ago under the Shagari administration, is another legacy project we have revived,” said Tinubu.According to him, this corridor – spanning Sokoto, Kebbi, Niger, Kwara, Oyo, Ogun, and Lagos – holds immense potential for agriculture, trade, and industrialisation.“It connects over 58 dams, vast arable farmlands, and trade routes to our West African neighbours and offers great promise for windmill energy generation.” Construction is well underway.“In Kebbi, we have completed over 10 km of the 258 km three-lane carriageway, and today we flag off the second carriageway.” This section is the longest in all our Legacy Projects.“In Sokoto, work has begun on the 120 km 2single-carriageway by three lanes from Illela.” I understand that over 10km of this project is already completed.” Today, we shall be flagging off the second carriageway of 120km with three lanes,” Tinubu stated.He said work was also at an advanced stage in this section.“More sections are being designed for procurement and award within the whole length of the Sokoto-Badagry Superhighway.“On my way here, I witnessed significant progress at Section II of the Lagos-Calabar Coastal Highway, with over 10 km of the 55 km stretch already completed.“I am also pleased to report ongoing works in the Cross River and Akwa Ibom sections and have directed that more segments be designed and procured,” he said.The president said the Trans-Sahara Trade Route, another visionary project, was advancing steadily, and would connect Calabar to Abuja via Ebonyi, Benue, Kogi, and Nasarawa.Tinubu said he had directed accelerated design on the 4th Legacy Project of the Akwanga-Jos-Bauchi and Gombe corridor to enable procurement to start.“Let me assure you that with God on our side, we shall complete these projects and deploy them for the economic benefit of our nation,” he said. (NAN)
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