Federal Government has disclosed that it recently paid a debt of N70 billion it inherited from the previous administration to contractors and project managers handling over 206 ongoing road projects nationwide.
The N70billion was out of the N102billion already released by the present administration to the Ministry of Power, Works and Housing, specifically for road projects in the various geo-political zones of the country.
Minister of Power, Works and Housing, Mr. Babatunde Fashola made the disclosure in Abuja on Tuesday, August 9, during a one day town hall meeting organised by Ministry of Information and Culture and the Alumni Association of the National Institute for Policy and Strategic Studies, AANI.
While he spoke on the theme, ‘Towards Effective Implementation of the 2016 Budget,’ Fashola noted that the hope to bridge the gap in infrastructure deficit in Nigeria, especially in the road sector, might be affected by lack of funds.
He posited that over N2 trillion would be needed to considerably reduce the present deficit in the infrastructure sector, as “this is coming on the heels that government has decided to admit the country was in recession, coupled with the realities of the continued plummeting oil prices in the market,” he said.
Fashola, alongside other nine ministers from different ministries, provided answers to several burning issues during the meeting.


Ad:See How you can turn $500 into $10,000 Click HERE For Details.
SHARE