Abuja, Nigeria — The Minister of Works, Dave Umahi, has disclosed that Nigeria requires a staggering N18 trillion to address its road infrastructure deficit, far exceeding the annual budgetary allocations from the National Assembly.
Speaking with journalists on Friday after presenting his ministry’s 2025 budget proposal to the Senate Committee on Works, Umahi highlighted the significant financial challenges.
“The President inherited 2,064 projects worth N13 trillion in 2023,” Umahi revealed. “When adjusted for current market realities, the cost rises to nearly N18 trillion.”
Borrowing as a Solution
Umahi emphasized that borrowing remains the only viable option to fund the massive projects required to fix the country’s roads.
“The President, with his vast economic expertise, is making efforts to secure loans to execute these projects,” he stated. “Unfortunately, some criticize these efforts. But we must borrow to ensure these roads are completed.”
He explained that investing in road infrastructure drives economic growth, creating opportunities for local businesses and generating employment.
“When roads are fixed, economic activities thrive. From selling construction materials to food vending, road projects create jobs and stimulate local economies,” Umahi added.
Call for Public Support
The Minister urged Nigerians to back President Bola Tinubu’s initiatives, stressing that the scale of road infrastructure challenges requires funding beyond the scope of annual budgets.
“He cannot manufacture money,” Umahi stated. “He needs encouragement, not baseless accusations. Road infrastructure demands significant attention and investment to drive national development.”
Chairman of the Senate Committee on Works, Senator Mpigi Barinada, acknowledged the enormity of the task and emphasized the need for innovative funding strategies.
“These projects are substantial, and we must explore alternative financing methods to deliver them. Advocacy by the National Assembly is aimed at benefiting constituencies, not for personal gain,” Barinada noted.
Both leaders stressed the critical importance of urgent and strategic investments in Nigeria’s road infrastructure as a catalyst for economic growth and improved living standards.
By Taiwo Olatinwo | January 18, 2025
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