FG spent N8.9trn on infrastructure in 2020 – Osinbajo

Vice President Yemi Osinbajo has said the Federal Government spent N8.9 trillion on infrastructure in 2020.

He said this in Uyo, Akwa Ibom state capital, during the commissioning of the 21 storey Dakkada Towers and the flag off of the Dakkada luxury estate, on Friday.

Osinbajo said the administration of President Muhammadu Buhari has invested more in infrastructural development than previous administrations.

The Vice President said the Lagos-Calabar rail project and the Ibom Deep Sea port as well as the Dakkada Towers, among other projects executed by both the Federal and State Governments have positioned Akwa Ibom
as a major industrial hub in Nigeria, and the West African sub region.

“Since the inception of our administration, Mr President has prioritised the development of infrastructure, roads, rail, power and despite the severe economic head winds we have experienced in the first six years, we have invested more than any administration in infrastructure.”

“As of last year, we had expended over N8.9 trillion on infrastructure. Just last month, the Federal Executive Council approved the Lagos, Calabar rail project which will pass through Uyo as a major station. At the end of last year, the Federal Executive Council also approved the full business case of the Ibom Deep Sea port, and of courses as a result of the active demands of Governor Udom Emmanuel.

“These infrastructural developments are set to establish Akwa Ibom State as a major industrial hub for not just Nigeria, but in the West African sub region,” he said.

The Vice President said International Oil Companies (IOCs) have no excuse not to relocate their administrative headquarters to the state as the problem of office accommodation has been taken care of by the commissioning of the building.

He commended Governor Udom Emmanuel for keeping to his promise to build the 21 storey tower, saying the investments in the Dakkada Towers was already yielding results and will attract more revenue to the state.

He described the Dakkada tower as government’s efforts to create an enabling environment for investment to thrive in the state, adding that the tower is a catalyst for the private sector.