FG Owes Road Contractors N392 Billion for Road Projects
The Minister of Works and Housing, Babatunde Fashola has said the Federal Government owes companies handling the 711 road projects across the country a total sum of N392 billion.
This, he said was higher than the N276 billion allocated for road projects in the proposed 2021 budget.
The minister disclosed this on Wednesday while defending the 2021 budget of his ministry before the Senate Committee on works.
Fashola said, “With the situation on ground, a stop has come for new projects and the country needs to priorities the existing ones in order to complete some of them.”
According to him, a total of N6.62 trillion was needed to fund the 711 road projects but because of the limited available resources, there is a need to priorities the important ones.
He said, “We do not have the resources that we need to fix our road infrastructure at once; the very reason we need to priorities what want to do.
“The situation on ground requires us to cut our coat according to our cloth and not according to our size because no good will come out of more new road projects now.”