The Minister of Works, Babatunde Raji Fashola, has disclosed that inadequate provision of funds is slowing down the ongoing 711 highway projects across the country worth N6.26 trillion.
He revealed this on Thursday while presenting the ministry’s 2021 budget and the details of its 2020 budget performance before the House Committee on Works, headed by Rep. Abubakar Kabir Abubakar (APC, Kano).
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The Minister suggested expansion of Sukuk financed projects, saying the funds should be channeled towards the completion of the entire green network covering the four major ports, Lagos, Warri, Port Harcourt and Calabar.
According to the minister, the Sukuk fund was to be drawn down for works certified only in respect of 44 roads and bridges.
He said the Ministry was still awaiting the payment of the first tranche of N54.8 billion for work done as at 16/10/2020.
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