Federal Government is to spend over seven trillion naira for the construction of 854 highway contracts across the six geo political zones in the country.
The Minister of Works and housing Mr Babatunde Fashola, announced this while defending the ministry’s 2022 budget proposal before the House of Representatives Committee on works and housing.
Mr Fashola, said the priority will be road projects and birdges leading to Ports and major Agricultural hubs attracting vehicles carrying heavy goods in the zones.
The minister also confirmed that of the total contracts, the ministry has identified some strategic projects that have attained an appreciable percentage and slated them for completion within 2021 to 2023 fiscal year.
He said the projects are expected to be financed through the Presidential Infrastructure Fund, Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, the Sovereign Sukuk Fund, Multilateral Loans among others.
The Minister maintained that in view of the critical condition of some bridges constructed over 20 years ago, the ministry has undertook the rehabilitation of Murtala Muhammad bridge at Koton Karfe along Lokojo-Abuja road, Makurdi bridge along Makurdi-Lafia road and the third mainland bridge among others.
The Chairman house Committee on Works and housing Alhaji Abubakar Kabir, expressed satisfaction with the performance of the ministry for executing relevant projects despite the existing financial constraints.
The committee Chairman assured the minister of the house determination to ensure that the ministry attains its financial independence, and called on the agencies under it to create more avenues of revenue generation for economic growth.
Reporting by Ibrahim Shehu, editing Daniel Adejo.