Apparently drained by the cost implication of the controversial Lagos/Calabar Coastal Highway, Minister of Works, David Umahi, has declared that the Ministry, under his leadership, would not propose any new project for execution in the year 2025.
Umahi said instead of new projects, the Ministry would focus on completing several ongoing and abandoned projects.
He added that the only reason that can make the Ministry recommend any new project is if it comes from President Bola Tinubu.
Umahi made the declaration on Thursday in Abuja during a press briefing to mark his first year in office.
The minister said, “We will not propose new projects for the 2025 fiscal year unless otherwise dictated by Mr. President.
“I’m going to tell the Ministry of Finance to provide funds for us to complete ongoing projects.
“Right now, we have over 4,000 ongoing projects and a funding gap of N16tn, most of them were inherited by this administration.
“Some of these projects were awarded when the naira was exchanged for N150 to $1USD.”
The minister further explained that inflation has contributed significantly to the rising cost of most of these projects, and it would be in the nation’s best interest for them to be completed.
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