FG Proposes N837 Billion Investment In Road Infrastructure Development

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In an extensive initiative unveiled in the 2024 budget proposal, the Federal Government aims to revitalise and construct 1,925 roads and highways nationwide. With a substantial allocation of N548.56 Billion for road construction in 2024, key projects like the East-West and Benin-Akure roads are set to receive N2 Billion and N3.75 Billion, respectively.

Separately, the 2023 supplementary budget earmarks N288.44 Billion for modernising 329 roads and bridges. When combined with the 2024 proposal, the total investment is projected to reach N837 Billion, covering a significant 2,254 roads and bridges over the fiscal years 2023 and 2024.

Under the Ministry of Works, a provision of N1.05 Billion is allocated for clearing overgrown vegetation on federal roads. The 2024 budget, themed “Budget of Renewed Hope,” also outlines N3.19 Billion for the acquisition of 50 motor vehicles.

Various impactful projects are outlined, such as the rehabilitation of the Kabba-Ayere to Isua-Ipele road in Kogi and Ondo states, the construction of the Ikot Ekpene border Aba-Owerri dual road, and the dualisation of the Lagos-Otta road. The budget underscores a commitment to infrastructure development, allocating funds for culverts, drainage, and flood-prone areas across different zones.

The Federal Road Maintenance Agency has secured N66.702 Billion for road and bridge repair, with an additional N1 Billion slated for the construction of the agency’s corporate headquarters. Acknowledging past debts and challenges, the Ministry of Works has set up committees to review outstanding payments, price variations, and augmentations, aiming to address a legacy debt of N1.5 trillion inherited from previous administrations.

The ministry encouraged contractors owed for their services to submit relevant documents between December 12 and December 22, 2023, as part of their ongoing efforts to address outstanding financial obligations.

 

 

 

 

 

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