December 12, 2018

FG advocates alternative funding for road, housing projects

FG advocates alternative funding for road, housing projects

Mustapha Shehuri

By Favour Nnabugwu

The Federal Government has advocated the need to fund the various road and housing projects in the South-South region outside annual budgetary provisions.

Mustapha Shehuri

Minister of State for Power, Works and Housing, Mr. Mustapha Shehuri, who said this during a three-day inspection tour of projects in the South-South region, yesterday, said there was a need for other sources of funding besides the yearly budgetary provision

He said: “There is a dire need for alternative and innovative sources of funding besides the usual annual budgetary allocations. The government is presently using the SUKUK bond funding option and Public-Private- Partnerships, PPP, to bridge infrastructural gaps in the country.”

During his tour, the Minister inspected the dualisation of Lokoja-Benin Road, Section II; Okene-Auchi, Section III; Auchi-Ehor, as well as Section IV of Ehor-Benin City Road.

He also inspected the ongoing dualisation of Sapele-Ewu Road, sections I and II, Sapele-Agbor and Agbor-Ewu roads.

The minister expressed satisfaction at the level and quality of work being carried out, especially in Bayelsa State in spite of the difficult terrain.

He said this while inspecting ongoing construction works on Yenegwe-Okaki-Kolo Road and the dualisation of Yenegwe Road Junction-Kolo-Otuoke-Bayelsa Palm Road.

While in Rivers State, the Federal Controller of Works, Engr. J. O. Fadire, briefed the Minister on the progress of work on the rehabilitation of Enugu-Port Harcourt Expressway, Section IV, Aba-Port Harcourt, as well as the 39-kilometre Bodo-Bonny Road with bridges across Afa, Opobo and Nanabie Creeks, the only one to link the Ogoni people with Bonny Island.