News

We inherited over 2,600 road projects worth N14tn, says Umahi

Published

3 months ago

September 18, 2023

Minister of works, Dave Umahi

We inherited over 2,600 road projects worth N14tn, says Umahi

The minister of works, Dave Umahi, has put the the budget for road projects inherited from past administration at around N14 trillion, covering 18,000 kilometers.

The minister disclosed this while addressing journalists at the Presidential Villa, Abuja, after a meeting with President Bola Tinubu over the weekend.

Umahi, who said the roads included are 2,604 in number, further disclosed that the administration had paid N4 trillion out of the N14 trillion owed in contracts, adding that government had already identified funding sources to offset N4 trillion more of its outstanding debts, leaving N6 trillion funding gap.

However, some road projects that have lingered for about two decades were never appropriated and will, therefore, be terminated.

He said: “The ministry inherited a total of 2,604 projects, worth N14 trillion and for 18,000 kilometers of road, that’s what we had. Between when we came on board and now, about N4 trillion has been paid and so that is a balance of N10 trillion remaining.

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“Now, in this N10tn, we have defined sources that could fund up to N4tn. So, we have a funding gap of about N6tn. That is what is there now.

“We have a number of programs for road development under the previous administration. We inherited all the projects; we have not dropped any of them. But curious to know that some of these projects have lasted for 20 years, some 10 years. In fact, in most cases, they were never appropriated throughout every tenure.

“So I went to seek Mr. President’s nod so that I will be able to terminate some of the projects that have stayed up to 10 years without any defined source of funding.”

He, however, lamented the current appropriation system for federal road projects, saying the piecemeal disbursement of funds to contractors is frustrating delivery, adding that he had already appealed to the President to engage with the National Assembly to prioritise projects.

“Just look at over 2600 projects, 18,000 kilometers of roads, and N14tn. That is huge! And the worrisome part of this is that even the ones that are being funded properly, the roads hardly last up to five years,” Umahi complained.

He noted that the short lifespan of roads necessitated his recent proposal to the President to redesign and construct yet-to-be-completed federal roads using reinforced concrete.

Umahi noted: “So I briefed Mr. President on what we are doing by introducing reinforced concrete technology for our road pavements.

However, Umahi vowed to “fight” entities poised to frustrate this plan, saying, “I know that there are a lot of fights from contractors, but I’m David, I’m known for fight and I will fight this because I’ve reported myself to Mr. President.”

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Meanwhile, the minister said he had received the president’s blessings to adopt the concrete reinforced pavements for roads across the country.

He said: “Incidentally, Mr. President is also an infrastructure guru and he fully supports that we should use reinforced concrete for our road pavements.

“So there is no other place you can report me other than to report me to God. So Mr. President is supporting me that way. We’ll redesign our roads in reinforced concrete pavement.

“I’m aware that the contractors have been quarreling and arguing. So, I want to declare that I’m open to any kind of blackmail, but my eyes are on the ball. And my eyes are on how we can get Nigerians to have value for the money. That is the assignment President Bola Tinubu gave to me and I’m going to do that with the fear of God”, he said.

The minister also revealed that he had written the NNPC to release monies for the East-West Road, saying, “I know that’s what the Rivers people mentioned when they came to see Mr. President. So that road is going to be on concrete.”

Having toured the southeast and parts of the Northwest and Northcentral, he said he would now focus on the Southwest, particularly Lagos State, where works are ongoing on the Third Mainland Bridge, Carter Bridge, Liverpool Bridge, the Eko Bridge and Marine Bridge.

He stated: “I want to see things for myself and appraise the ongoing projects. I want to see who is doing a good job and who is doing a bad job. So I briefed Mr. President about that.”

We inherited over 2,600 road projects worth N14tn, says Umahi

News

Why there is Naira notes scarcity – CBN

Published

36 mins ago

December 10, 2023

Trends Admin

Why there is Naira notes scarcity – CBN

The Central Bank of Nigeria says the seeming Naira notes scarcity in the country is caused by large volume of withdrawals of cash from various CBN branches by Deposit Money Banks.

The apex bank, which disclosed this amidst
complaints by some Nigerians about scarcity of Naira notes, said there is adequate supply of the currency.

Newstrends reports that many bank customers have raised concerns on scarcity of Naira notes at the counters, Automated Teller Machines (ATMs) Points of Sale (PoS), and Bureaux de Change (BDCs).

Some officials of Deposit Money Banks (DMBs) also claimed that the DMBs were not getting adequate supply of cash from the CBN.

But, according to a statement issued by the Corporate Communications Department of the CBN, there is no shortage of Naira notes, as there is adequate supply of the currency in the economy.

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It said that panic withdrawals by bank customers was also partly responsible for the seeming scarcity.

“The attention of the CBN has been drawn to reports of alleged scarcity of cash at banks, ATMs, PoS and BDCs in some major cities across the country.

“Our findings reveal that the seeming cash scarcity in some locations is due largely to high volume withdrawals from the CBN branches by DMBs and panic withdrawals by customers from the ATMs.

“While we note the concerns of Nigerians on the availability of cash for financial transactions, we wish to assure the public that there is sufficient stock of currency notes for economic activities in the country.

“The branches of the CBN across the country are also working to ensure the seamless circulation of cash in their respective states of operation,” it said.

The CBN advised members of the public to guard against panic withdrawals as there was sufficient stock to facilitate economic activities.

It also advised Nigerians to embrace alternative modes of payment, which would reduce pressure on using physical cash.

Why there is Naira notes scarcity – CBN

News

BREAKING : Senators donate December salaries to victims of Kaduna bombing

Published

3 hours ago

December 10, 2023

Trends Admin

BREAKING : Senators donate December salaries to victims of Kaduna bombing

All the 109 Nigerian senators have donated their December salaries, amounting to N109 million to the victims of the ‘accidental’ bombing in Tudun Biri, Igabi Local Government Area of the Kaduna State.

Deputy President of the Senate, Senator Barau I. Jibrin, announced this at the Kaduna Government House when he led a high-power delegation of the Senate members to the state.

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The Senators were received by the state governor, Senator Uba Sani.

Senator Barau, in a statement by his Special Adviser Media and Publicity, Ismail Mudashir, said the money would be sent to the state governor for onward delivery to the victims.

The governor thanked the senators for their donation.

BREAKING : Senators donate December salaries to victims of Kaduna bombing

News

Publication of my academic records witch-hunt, mischief – Atiku

Published

9 hours ago

December 10, 2023

Trends Admin

Atiku Abubakar

Publication of my academic records witch-hunt, mischief – Atiku

Former Vice President, Alhaji Atiku Abubakar has accused an online newspaper of mischief and witch-hunt, by claiming that he refused to release his academic records.

The newspaper had reported that the former vice president refused to release his academic records despite exposing President Bola Tinubu.

But Atiku in a statement issued by his Media Adviser Paul Ibe said the newspaper did not adhere to any known ethics of journalism, and accused it of publishing a story that is neither controversial nor shrouded in a cover-up.

According to the former Peoples Democratic Party (PDP) presidential candidate, the documents upon which the report was based are already in the public space.

“The Independent National Electoral Commission (INEC) is the body that is the repository of all relevant documents required by law for anyone contesting election into public office,” Atiku stated, adding that the newspaper did not write to INEC to place a demand for Atiku Abubakar’s documents.

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The former vice president also disclosed that he is an alumnus of both Ahmadu Bello University, Zaria, and the Anglia Ruskin University in the United Kingdom, noting that neither of the institutions was contacted for his academic records with them, “nor did Atiku stop the school or go to court to ask any of these schools not to release his records.”

He also said the publication is at liberty to write to the West African Examination Council (WAEC) demanding a copy of his certificate and transcript.

“The ethics of journalism seeks to establish the truth when there is a dispute about it or when there is a deliberate cover-up that inhibits public interest,” alleging that the newspaper was not interested in interrogating the discoveries from the Chicago State University “for the obvious reason that a parent owner of the newspaper occupies a critical seat in the current government.

“And, then, we ask the question: What manner of a newspaper sets out to protect the interest of a government but is very willing to embark on a wild goose chase on a private citizen?”