FG needs N3tr to complete NNPCL-funded road projects

The Minister of Works, Engr. David Umahi has said that the Federal Government present requires ₦3 trillion to implicit ongoing roadworthy projects initially funded nether the Nigerian National Petroleum Company Limited (NNPCL) taxation recognition scheme.

The NNPCL discontinued backing specified projects, effectual August 1, 2025.

However, President Bola Tinubu has since directed the ministry to research alternate financing models to guarantee nary captious infrastructure task is abandoned.

Umahi besides announced that going forward, roadworthy projects nether N20billion volition beryllium handled by indigenous operation firms arsenic portion of the administration’s Nigeria archetypal initiative.

The curate said this during an inspection sojourn to the ongoing dualization of the East-West Road successful Rivers State connected Tuesday.

Umahi stated that the Federal Ministry of Works has compiled each NNPCL inherited Tax Credit projects for strategical precedence funding.

The astir captious projects wrong the nationalist economical corridor volition person precedence successful the hierarchy of prioritization.

Umahi said, “We are inspecting projects of national authorities successful Rivers State, and this peculiar 1 is the dualization of Eleme Junction to Onne Port Junction by RCC.

“Recall that 1 carriageway was completed and commissioned, adjacent though determination are a fewer things we ordered afresh similar the retaining partition and hanging drainage.

“For the 2nd carriageway with immoderate bridges and flyovers, enactment has started connected it. Let maine clarify that this is portion of the NNPC Tax Credit, which has been halted successful presumption of backing by NNPC.

“But graciously, we person compiled each the NNPC inherited Tax Credit projects, and we presented arsenic Ministry of Works to Mr. President. And Mr. President has graciously directed that nary of specified works should halt now.

“However, arsenic Ministry, we are going to bash prioritization of the projects and look astatine the astir captious of these projects wrong the nationalist economical corridor similar this one. And we are going to enactment it guardant for contiguous backing due to the fact that the President directed that nary of specified projects should halt now.”

Vanguard News

The station FG needs N3tr to implicit NNPCL-funded roadworthy projects appeared archetypal connected Vanguard News.