FEC Approves N1.3 Trillion For 28 Road Projects, Bridges
The Federal Executive Council (FEC) has approved a budget of N1.267 trillion for the development of 28 roads and bridges nationwide.
The council also has approved the establishment of the Renewed Hope Infrastructure Development Fund (RHIDF) to address the country’s $878 billion infrastructure deficit.
Minister of Works Dave Umahi and Federal Inland Revenue Service (FIRS) Chairman Zacch Adedeji made these announcements to the press following the FEC meeting in Abuja yesterday.
Umahi disclosed that in addition to the 28 projects, FEC had allocated N144 billion for the Shaki-Okerete Road in Oyo State and N83.779 billion for the Buruku Bridge in Katsina-Ala, Benue
State. One project, the N158 billion Biu-Kanga-Kana-Gaya road leading to the Niger Republic border, was put on hold by the council at the minister’s request.
He said, “Today(yesterday) the Federal Executive Council considered and approved a total of 28 roads and bridges and stepped down one project. The project I requested should be
stepped down so that I can look at it again is the Biu, Kanga, Kana, Gaya to the border of Niger Republic costing about N158 billion.
“The other projects totaling 1.26 7 trillion, they were all approved by FEC having gone through the BPP(Bureau for Public Procurement) and we got the certification, no objection.
“Council also approved the Buruku bridge that is going across Katsina Ala River in Benue state, the bridge is a twin bridge that marches the dualised road there, and each of the bridges is about
850 meters. So putting the two together is 1.7 kilometres and costs about N83.799 billion.
“There was also approval by FEC for a road- Shaki and Okerete- in Oyo. The road is 91.432 kilometres costing N144 billion.”
On his part, Adedeji, who is also President Tinubu’s special adviser on Revenue, explained that the RHIDF would be domiciled in the Presidency.
RHIDF represents an enhancement of the Presidential Infrastructure Development Fund, which was originally introduced by the previous administration.
Adedeji clarified that the National Integrated Infrastructure Masterplan projected Nigeria’s infrastructure spending from 2016 to 2040 to be around $878 billion.
He further highlighted that this amount translates to an average annual expenditure of $35 billion.
