FG releases 100bn for road construction

FG releases 100bn for road construction

The federal government has released the sum of N100 billion realized from Sukuk to the federal ministry of works for the completion of the on-going road projects across the country.


Presenting the cheque to the minister of power, works and housing, Babatunde Fashola in Abuja on Thursday, the minister of finance, Kemi Adeosun said the fund would cover the on-going road construction in the six geo political zones.

According to the minister, the money will be distributed equally to cater for the dilapidated roads within the zones

Adeosun added that, the gesture is an important development to the country's financial market.

Minister of power, works and housing, Babatunde Raji Fashola who received the cheque said, finance and weather had always been the major setback to road construction in the country.

He said the challenges having been resolved, within who reside within the localities where the identified roads located will heave a sigh of relief since the funds to reconstruct them are now available

Director highway planning and development, Engineer Chukwunwike Uzor gave the breakdown of the fun.

He said each zone will get 16.7 billion naira each.

 

Report by Nnabuchi Nnabuchi

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