- FG requires over N19 trillion to complete inherited road projects nationwide
- The initial estimate was N16 trillion as of August 2024, but increased due to naira pressure and fuel subsidy removal
- President Bola Tinubu’s administration inherited 2,604 projects worth N13 trillion and N1.6 trillion debt to contractors
The Minister of Works, Engr. David Umahi, disclosed that the Federal Government needs over N19 trillion to complete ongoing road projects nationwide, citing the pressure on the naira in the foreign exchange market and the removal of fuel subsidy as reasons for the increased estimate. This amount represents an increase of N3 trillion over the initial N16 trillion projected in August 2024.
Umahi explained that President Tinubu’s administration inherited 2,604 projects valued at N13 trillion, with a debt of N1.6 trillion to contractors. The President aims to keep all projects alive, seeking funding from internal and external sources, including loans, to prioritize the well-being of Nigerians.
Additionally, the ministry has issued a 7-day ultimatum to Messers Julius Berger to mobilize to the Abuja-Kano road project site, warning of contract revocation if unmet.
