FG approves N126 billion for reconstruction of roads

16 Feb 2017
Financial Nigeria


Fashola said the Federal Executive Council considered and approved the award of contracts for 12 roads across eight states.

Nigerian Minister of Power, Works and Housing, Babatunde Fashola

The Federal Executive Council (FEC) has approved the reconstruction of roads across eight states, according to the Minister of Power, Works and Housing, Babatunde Fashola, who briefed journalists on Wednesday after a FEC meeting chaired by Acting President Yemi Osinbajo.

Fashola, who was joined at the press briefing by the Minister of Budget and National Planning, Udoma Udo Udoma, and the Minister of Health, Isaac Adewole, said the Council considered and approved the award of contracts for 12 roads, at a total value of N126 billion.

“The headline figures are in the region of N126 billion but I think that is not the story, the story really is what the award of those contracts will do to the economy,” Fashola said. “It will restore confidence to the construction industry. Contractors who have been owed for two, three years before Mr President was elected are back in various states."

The reconstruction works are also expected to benefit indigenes of the states where road constructions are in progress, thus fostering higher economic output within the states. The 12 roads approved for reconstruction are in Kano, Bauchi, Borno, Adamawa, Gombe, Enugu, Kwara and Kaduna States.

“Most of the workers who drive the trucks, who fix the roads that you see are indigenes of those states and so they aggregate to the total output from each of those states to the national productivity and national recovery,” he explained.

Udo Udoma also said the government has continued to hold extensive discussions on the Economic Recovery Growth Plan. The plan is expected to promote long-term economic growth and foster competitiveness in the economy.

“The proposed initiatives outlined in the plan are designed to address the country’s poor competitiveness, improve business environment and attract investment and infrastructure especially power, roads, rails and ports. Jobs and social inclusion are also key focused areas of the plan,” Udoma said.

Other Photos/Videos