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Feb
13
2017

Insufficient Budgetary Provision Responsible For Untimely Completion Of Road Projects - Fashola

The Minister of Power, Works and Housing, Babatunde Raji Fashola, has stated that the major factor militating against the timely completion of road projects is insufficient budgetary provision for projects to sustain annual cash flow requirement levels, adding that this underscores the need for diversifying the sources of funding for highway projects through concession of bankable  projects.

 

Fashola stated this while defending his Ministry’s 2017 budget proposal before the House of Representatives Committee on Works at the National Assembly recently.
He said that the three sectors of the Ministry namely Power, Works and Housing and their parastatals proposed the sum of N564,211,583,496 for  Capital projects, Personnel and Overhead cost for the year 2017. The Capital Breakdown shows; Works stood at N283,138,551,643:00, while Parastatals stood at N28,349,090,000:00. For the Overhead cost proposal; Works is N554,538,906 while Parastatals is N17,169,056,316:00 and Personnel cost proposal stood at N10,426,114,809 for the three sectors of the Ministry namely Power, Works and Housing under the Integrated Payroll and Personnel Information System (IPPIS), programme in the Office of the Accountant General of the Federation, (OAGF)

The Minister further stated that in 2017, highway projects have been prioritized into six;  Saying that  the objective of doing this is to pay premium attention to projects at arterial highways and to record appreciable progress in order of importance of the projects.

He added that the sum of N150,470,553,292:00 representing 62.22% was proposed to execute National Priority one projects in 2017; saying that the  National Priority Projects include the road projects on critical economic routes on the Federal Road network. These are highly trafficked North-South, East-West Routes, used for the distribution of goods and services across the country and major river crossing bridges. On the priority two, the total sum of N43,143,299,357:00 representing 17.84% was proposed to execute projects under this priority. These are projects being executed along the branch routes from the critical economic routes on the Federal Road Network that serve as links between the major Routes and Agricultural producing hubs, factories and mining deposits for the evacuation of agricultural produce , manufactured goods and raw materials to markets and Ports nationwide.

Fashola further stated that, Priority three are the projects targeted to routes leading to the Nation’s Refineries, Petroleum Deports, Major Ports and Mineral producing areas in the Country meant to ease movement of petroleum products and imported goods from the Ports/Deports to other parts of the country. The sum of N25,508,708,266:00 representing 10.55% was proposed to execute various road projects under this category. Also, priority four are the  roads in key agricultural States producing cash crops like yam, rice, maize, cassava, fruits, adding that the objective is to boost agricultural production, ease movement of crops to markets. The sum of N8,900,000,000:00 was proposed for the projects under this category.

The Minister further said that, priority five are the projects under Counterpart Funding, funded from Multi-literal Loans such as World bank and African Development Bank. The sum of N874,409,248 representing 0.36% was proposed while priority six are the on-going projects on the federal road network and road interventions in the Tertiary Institutions across the country. The sum of N12,943,028,838:00 representing 5.35% was proposed for other on-going projects in 2017.

PHOTO NEWS

Oct
31
2024

THE HON. MINISTER OF WORKS, H.E. SEN. (ENGR.) NWEZE DAVID UMAHI, CON, FNSE, FNATE ENGAGES STAKEHOLDERS IN ONDO STATE ON THE 63-KILOMETRE ALIGNMENT OF THE LAGOS - CALABAR COASTAL HIGHWAY PASSING THROUGH THE STATE, THURSDAY, 31ST OCTOBER, 2024 IN AKURE.

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PHOTO NEWS

Mar
05
2024

HON. MINISTER OF WORKS, HIS EXCELLENCY SEN. ENGR NWEZE DAVID UMAHI CON (RIGHT) WITH THE DIRECTOR, INFRASTRUCTURE AND URBAN DEVELOPMENT, MIKE SALAWOU HELD AT THE OFFICE OF THE HONOURABLE MINISTER FEDERAL MINISTRY OF WORKS, THIS 5TH MARCH 2024.

Hon. Minister of Works, His Excellency Sen. Engr Nweze David Umahi CON (Right) with the Director, Infrastructure and Urban Development, Mike Salawou held at the office of the Honourable Minister Federal Ministry of Works, this 5th March 2024.

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