Nigeria isn’t buoyant to build new roads every year– Fashola
Minister of Works and Housing, Babatunde Fashola, says Nigeria cannot afford new roads or new projects during every budget cycle, due to inflation and dwindling revenues.
TheCable reports that the minister spoke on Wednesday, November 3, 2021, when he appeared before a House of Representatives committee on works to defend the ministry’s budget.
Instead of awarding new road projects, “limited resources” should be channelled into completing abandoned projects, Fashola proposes.
“The number of projects are increasing and all of us must find a way to come to a consensus, because our revenue is not increasing at the same exponential rate,” he says.
“What we are seeing every year is that we appropriate for a very token amount for a project of certain quantum.
“Now, once the award is done, the question of financing becomes a challenge.
“With the inflation and everything, there must come a time and I think that time is now; Mr Chairman and Honourable members, enough of new roads and new projects.
“Let us concentrate our limited resources to complete or progress some of what we have started.
“In finding the solution, I will be happy. There are a couple of roads in Osun and we cannot finish all of them in one budget cycle.
“If the parliamentarians from each state can come together and say, this is one priority project for us and decide that let us move our zonal intervention project — and say this is what we want to achieve — this is an honest conversation we must have,” he adds.