FG IS OWING CONTRACTORS N336 BILLION - MINISTER OF WORKS AND HOUSING, BABATUNDE FASHOLA
Nigeria's Minister of Works and Housing, Babatunde Fashola, has said the Federal Government is owing contractors N336 billion.
The Minister disclosed this on Arise TV on Sunday, August 23rd, 2020.
He reveals that only N27 billion has been paid so far, while more certificates are piliing up for the contracts that have not been paid.
The Former Governor of Lagos State said 44 roads across the country are undergoing construction with the N162 billion sukuk bond.
He also called for the reintroduction of tolls on major roads.
He said; “Then we have the Sukuk N162 billion. So, if you add that up, we are still way behind and more certificates are piling up for work that we haven’t paid.
“When you divide N162 billion by 44 roads, what is left? That defines where we are in terms of the funding challenge. At this moment, for example, FERMA is going to undertake 192 road repairs and maintenance over the next 12 months.
“They just sent me the implementation plan on Friday last week and they are good to go.”
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