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Home National FG Invests N100b On 25 Arterial Roads Nationwide- Fashola
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FG Invests N100b On 25 Arterial Roads Nationwide- Fashola

By
Mohammed A. Ahmed
-
September 26, 2017
Fashola
Works Minister Fashola
The Federal Government is reconstructing and rehabilitating 25 arterial roads with an aggressive plan to spend about N16.7b for each geopolitical zone across the country. The fund, which is a safe and low risk investment, is a Debt Management Office (DMO) Sovereign Sukuk (bond) with a 7-year tenor to the tune of N100b.
The Minister of Power, Works and Housing, Babatunde Fashola, SAN, disclosed this today while addressing members of the Manufacturers Association of Nigeria (MAN) who paid him a courtesy call, in his office.
The prioritized 25 road projects include the Dualisation of Ibadan-Ilorin Road, Suleja-Minna Road, Kano-Maiduguri Road, Lokoja-Benin Road, Rehabilitation of Enugu- Port-Hartcourt Expressway and the Construction of Kaduna –Eastern Bye- Pass, amongst others.
The Minister also stated that the Ministry is in the process of re-introducing the tolling system on completed Federal Highways in order to sustain the maintenance of these roads.
Earlier in his address, the President of MAN, Dr. Frank Udemba Jacobs, MON, commended the Minister for the novel idea in road financing, while specifically praising him for the on-going rehabilitation of Lagos-Ibadan, Onitsha- Enugu Expressways and other strategic roads across the country.
He also expressed delight for the approval of N213b Nigerian Electricity Market Stabilization Facility (NEMSF) aimed at easing some of the challenges in the electricity industry value-chain.
On a final note, he applauded the Federal Government for its recent measures at getting the economy out of recession and the provision of an enabling environment for business to thrive.
In attendance at the meeting were the Minister of State II for Power, Works and Housing, Surv. Suleiman Hassan Zarma, the Permanent Secretary, Power Sector, Engr. Louis Edozien, Directors and Chief Executives from the Ministry.
 
Mohammed A. Ahmed
For; Director, Information
 
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Kano Gov Appoints Yusuf Sharada Special Adviser on Digital EconomyKogi SEMA To Establish Emergency Operation CentreThe Passing of a Mighty Warrior by Chief Femi Fani-KayodeSGF Akume Leads Presidential Committee for Buhari’s State FuneralPolice Arrest 6 Suspected Armed Robbers in Benue, Recover Firearm, MotorcycleNorthwest Governors Mourn Buhari, Declare Tuesday Public HolidayFG Declares Tuesday Public Holiday in Honour of Late Ex-President BuhariJUST IN: FG Declares Tuesday Public Holiday to Honour BuhariWalson-Jack Inaugurates Editorial Team for Civil Service Legacy BookPolice Arrest Suspects for Human Trafficking, Rescue Victims in Anambra, Enugu, EdoCustoms Exposes Scam Over Form M Migration to B’Odogwu PlatformUPDATE: Buhari's remain for burial Tuesday 2pm - Gov RaddaYahaya Bello Mourns Passing of Buhari and Awujale of IjebulandBuhari in his Own Words By Kabir AkintayoPHOTOS: Shettima, Gbajabiamila Arrive London to Bring Buhari’s Body Home for Burial
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