By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: FG Owes Contractors N1trn – Fashola
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
BusinessNews

FG Owes Contractors N1trn – Fashola

Farouk Mohammed
By Farouk Mohammed
Published: February 10, 2016
Share
3 Min Read
SHARE

fashola1411-1

Minister of Power, Works and Housing, Babatunde Fashola, yesterday said the Federal Government was owing contractors handling road projects in the country about N1 trillion.

The minister, who disclosed this during the 2016 budget proposal defence at the House of Representatives joint budget hearing on Urban Development and Regional Planning, Power, Works, and Federal Road Maintenance Agency, FERMA, said there were no less than 200 ongoing road projects awarded by the previous administration which gulped N3 trillion, with an outstanding payment of N1 trillion.

But he noted that the three ministries under his watch, had to work with the budget of N433 billion in the 2016 fiscal year, adding that he had resolved to make do with what was available.

- Advertisement -

The minister noted that there was the consideration to bring back toll gates on the country’s highways by the Federal Executive Council, FEC.

Fashola said the nation’s economy stood down as a result of the general elections in the country last year and that because the government was not spending, the economy stood down.

He said that his ministry had prioritised the roads to be constructed in the country and that such roads should be the ones that would drive the economy and also serve the North and South, East and West as well as give value to movements of tankers and other goods.

He said another consideration in the construction of roads would be on the ones that had the heaviest traffic, and those nearing completion that could be accelerated and concluded fast.

- Advertisement -

He said a three-year work plan had been evolved and that about 2000 kilometres of roads would be done in year one, another 2000 kilometres in year two and the same number of kilometres of roads in year three.

The minister stressed that the roads spread across the six geopolitical zones of the country.

Giving a breakdown of the ministry’s budget, Fashola said N208 billion would be expended on roads, N99 billion on power, with N66 billion for Housing.

He noted also that over-head had the allocation of N17, 843 billion, while seven parastatals under the ministry, including FERMA, Office of the Surveyor-General of the Federation and the Federal School for Survey, FSS, would share N26, 715 billion.

Fashola acknowledged that huge monies would be required to maintain roads on regular basis and urged the legislators to complement the envisaged policy with relevant legislation aimed at achieving the desired goal.The projects listed as topmost priorities include Sokoto-Kantagora-Makera Road, Katsina-Kano-Maidugari Road, Hadeja-Nguru-Gashua Road, Ilorin-Jebba-Makowa, Lagos-Ibadan Road, Enugu-Portharcourt, Calabar-Adokpani- Ikot Road and Ajibandele-Sagamu Road.

However, the committee queried why N50 billion was allocated to the Lagos-Ibadan Road alone.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:FasholaFG
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article Refineries To Resume Operations End of February – Kachikwu
Next Article FG to Increase Salaries of Nigeria Customs Officers – Kemi Adeosun

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 4 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Pastor Adeboye
Pastor Adeboye Shares Divine Directive: Leaving RCCG Could Lead to Tragic Loss
News
Anglican Bishop of Lafia Calls on President Tinubu to Address Root Causes of Nigeria’s Insecurity and Economic Woes
News
Egbe Bobakeye Okunrin Akile Ijebu Refutes False Claims About Queen Elizabeth II’s 1956 Visit
News
NRC Managing Director Warns Against Railway Vandalism: “We Don’t Have Scraps, We Have National Assets”
News
Tragic Head-On Collision in Jigawa Claims Nine Lives, Dozens Injured
News
- Advertisement -
Ad imageAd image

You May Also Like

Sport

Victor Osimhen Returns to Nigeria as Al Hilal Transfer Hangs in Balance Ahead of FIFA Club World Cup

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
News

Tinubu Urged by PDP to Cut Fuel and Electricity Costs Amid Eid-el-Kabir Festivities

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 7, 2025
Mike Ejeagha
News

Mike Ejeagha, Nigerian Highlife Maestro, Dies at 95

Muhammad A. Aliyu
Muhammad A. Aliyu
June 7, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?