FG: N165.3 billion to be spent on new projects

The Ministry of Power, Works and
Housing’s N282.4 billion capital
budget, N165.3 billion will be spent
on new projects, a document has
shown.
The cash will be spent on construction
of roads, provision of houses,
electricity and railway.
According to the 2016 budget proposal
the ministry submitted to the National
Assembly (NASS), new electricity
projects are estimated to cost about
N20.6 billion.
About N57.7 billion will be spent on
the construction of houses, N86.6
billion on new roads and N256 million
on railway projects
Among the projects are rehabilitation
of the Lagos/ Sagamu/Ibadan dual
carriage way, sections 1 & 2 (N66
billion); rehabilitation of Third
Mainland Bridge and underwater
works (N34.2 billion) and repair of
Enugu/Port Harcourt dual carriage
way sections 1,2,3 & 4 at (N13.2
billion).
The Minister, Babatunde Fashola,
during his maiden media conference,
spoke of massive roads construction,
especially those that will connect the
states and those that would promote
the economy.
There are also plans to build houses,
especially in partnerships with states.
Thus, about 1973 blocks of 7068
housing units will be built in the
geopolitical zones and the Federal
Capital Territory with the N57.7
billion.
About N117.1 billion is allocated to
repairs and rehabilitation of existing
projects.
Aside, the ministry is expected to
repair defense equipment, military
barracks and air navigation equipment.
According to the budget, about
N111.7 billion is for road repairs,
N601.2 million will be spent on
railway rehabilitation and waterways
repair will cost N2.5 billion.
Other rehabilitation projects listed in
the ministry’s project include airport/
aerodromes (N634.9 million), defence
equipment (N650 million), recreation
facilities ((N377.2 million), air
navigational equipment (N292.3
million) and Defence barracks (N367.7
million).
There are also the rehabilitation of
Apapa-Oshodi Expressway (N4 billion),
Construction of new access roads to
Apapa/Tin can NNPC depots, Atlas cove
to Mile 2 at N1.3 billion, among
others.
The ministry is said to be owing
contractors over N250 billion. It was
gathered that if the ministry is to pay
the outstanding debts from the new
budget, it will be little to spend on
completing old projects much less
embark on new ones.
As for projects completed but awaiting
payments, the following sum has been
allocated for major economic routes:
Onitsha and Enugu (N173.4 million),
Onitsha and Owerri (N102.8 million),
major link between Lagos and Ogun
states (N115.9 million)