Abuja: The Federal Government is racing against time to secure ₦3 trillion in alternative funding after the Nigeria National Petroleum Company Limited (NNPCL) abruptly ended its financial support for key road infrastructure projects under the tax credit scheme.
Minister of Works, David Umahi, revealed that President Bola Tinubu has directed the ministry to explore Public-Private Partnerships (PPP) and other financing models to prevent nationwide project abandonment.
With dozens of critical roads across Nigeria hanging in the balance, the administration faces a major test of its infrastructure commitment.
David Umahi, the Minister of Works, disclosed this in Abuja while briefing reporters.
He said that following the NNPCL‘s decision to halt funding from Aug. 1, President Bola Tinubu directed the ministry to explore alternative sources of financing to ensure no project is abandoned.
“Our President is a man with a large heart. Despite the funding stoppage by NNPCL, Mr President, as Chairman of the Federal Executive Council (FEC), directed that alternative funding mechanisms be put in place to ensure completion of all projects,” Umahi said.
He noted that the ministry has compiled a list of all affected projects and will present them to the President for consideration under Public-Private Partnership (PPP) where applicable, especially for contractors with capacity and funding.
“We are going to prepare a memo to the President on that,” he said.
Umahi also said that work has begun on the Benin-Warri, Benin-Asaba road to the first Niger Bridge, the Lagos-Ota-Abeokuta Road, and the Bayelsa and Delta axes.
He added that in the North Central, the Koton-Karfe and the Keffi bridges, the Katsina-Ala Road project through Benue has also been approved for execution.
Umahi said the Kabba-Ekiti road was also ongoing, as well as the Benin by-pass road in the South-South.
He explained that there were numerous emergency projects in the Northeast, specifically in Gombe, Bauchi, Azare, and the long stretch from Kano to Maiduguri.
Other ongoing projects, he said, are the Bauchi to Jigawa, Akwanga-Jos-Bauchi, Gombe-Bauchi, Kwara-Jebba, and Mokwa roads.
The Minister of State for Works, Malam Bello Goronyo, commended President Tinubu for his unwavering commitment to road infrastructure.
Goronyo said,” This is a president that has shown an uncommon commitment to fixing our roads that were neglected for more than 45 to 47 years.
“I want to say that we can never have it better than this time when the roads are being maintained and reconstructed, and this is something that every one of us can feel, see, and touch.”
Goronyo commended the media for showcasing the work of the ministry and urged them to always verify information before going to press to avoid fallacy.
Also speaking, the Permanent Secretary, Ministry of Works, Mr Olufunsho Adebiyi, said the claim of marginalisation in road projects was not valid as many factors determine the cost of fixing a one-kilometre road.
“So, what you need to fix a one-kilometre road in Bayelsa, may do up to 10 in Katsina, why? Due to the terrain, the water table, and proximity to the required materials, several factors are considered. Please recognise this,” he said
Adebiyi said the knowledge would help Nigerians understand the dynamics of road projects.
