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Posted By Admin On January 18th, 2025

The minister of Works, Dave Umahi, has revealed that Nigeria required N18 trillion to address its road infrastructure deficit, a figure far beyond what can be covered by the annual budgetary provisions from the National Assembly.

Speaking to journalists on Friday after defending his ministry’s 2025 budget estimates before the Senate Committee on Works, Umahi emphasised the financial challenge facing the country.

He stated, “Remember, the President inherited 2,064 projects totalling N13 trillion in 2023. If you review those projects in line with current market realities, the cost rises to nearly N18 trillion.”

Umahi argued that borrowing was the only feasible way to finance the projects, given the scope of work required and the economic realities.

“The President, who is an economist and has vast experience with these issues, is making efforts to borrow money to execute these projects. Yet, some in the public question his actions. That’s what I’ve been explaining to the National Assembly, and we’re now on the same page. We must borrow to fix the roads,” Umahi said.

He further stressed the economic benefits of road infrastructure, saying, “When roads are fixed, they serve as a catalyst for economic growth. They reduce hunger by creating numerous economic activities—those selling sand, chippings, rocks, and food will benefit. It generates employment and sustains local economies.”

Umahi also urged Nigerians to support President Bola Tinubu’s efforts, highlighting that road infrastructure cannot be adequately addressed through annual budget allocations alone.

“He (President Tinubu) cannot manufacture money. He needs to be encouraged. Accusations of stealing are discouraging and unhelpful. Road infrastructure requires significant attention and investment beyond yearly budgets,” he added.

Earlier, chairman of the Senate Committee on Works, Senator Mpigi Barinada, acknowledged the enormity of Nigeria’s road infrastructure challenges and the need for innovative funding solutions.

“These projects are enormous, and we need to explore alternative ways to secure funds to deliver them to our people. When people see the National Assembly advocating for projects, it is not for personal gain but for the benefit of their constituencies,” Barinada said.

The remarks from both leaders underscored the pressing need for urgent and significant investment in Nigeria’s road infrastructure to drive economic growth and improve the quality of life for citizens.

Source: https://leadership.ng/nigeria-needs-n18trn-to-fix-road-infrastructure-umahi/