The Minister of Works, David Umahi, has revealed that the Federal Government requires an extra ₦3 trillion to complete all road projects currently being funded by the Nigerian National Petroleum Company Limited (NNPCL) under the tax credit scheme.
Umahi disclosed this during a press briefing in Abuja, stressing that while the NNPCL intervention has been instrumental in pushing forward critical infrastructure, the scale of ongoing road projects across the country far exceeds the current funding envelope.
According to him, many highways and bridges remain incomplete due to rising construction costs, inflation, and fluctuations in the naira-dollar exchange rate, which have significantly impacted material procurement and project execution.
> “The NNPCL-funded projects are crucial to our national economy, but to achieve completion, we need about ₦3 trillion more. Government is considering various funding models, including public-private partnerships, to ensure that these roads are delivered,” Umahi said.
He further assured Nigerians that the Tinubu-led administration remains committed to completing strategic road networks that would boost trade, ease transportation, and improve national security.
Stakeholders in the construction sector, however, have expressed concerns over whether the federal government can mobilize the required resources without deepening the country’s debt profile.
💬 Drop your thoughts in the comment box:
Do you think the FG can realistically raise another ₦3trn to complete these projects, or should the government prioritize fewer roads to avoid overstretching resources?
