FG Set Up Six Committees To Review N1.5tn Debt Owned Road Reconstructors

FG Set Up Six Committees To Review N1.5tn Debt Owned Road Reconstructors

By Haruna Yusuf, Abuja

The Minister of Works, David Umahi, yesterday announced that he had set up six regional committees to review all N1.5tn debts Owed Road Contractors, before May 29, 2023, and from then till date.

A statement signed by the Chief Press Secretary to the minister, Uchenna Orji, said the minister gave the hint during an in-house budget defence with directors in the ministry, in preparation for their presentation to the joint committees of the National  Assembly slated for today.

While thanking all those who handled the ministry’s budget for their commitment to the appraisal of the budget proposal, the minister noted that the road sector needed a different kind of attention beyond the 2024 budget envelope received by the ministry.

For a developing nation like Nigeria, Umahi noted that road infrastructure development remains a catalyst for economic growth and has the potential to improve security, agriculture, trade and investment as well as health and education.

“The minister thanked President Bola Tinubu for the attention given to the ministry and his approval of concrete pavement in most of the 2024 projects.

“He stated that the ministry is committed to the development of road infrastructure in line with the Renewed Hope agenda.

“The minister noted the huge debts arising from unpaid certificates inherited from the past administration, which run up to N1.5 trillion up till date and the expected contract reviews arising from inflation. These two factors are recognised in the ministry as issues that must be confronted to move forward.

“The minister has, therefore, set up six committees of one committee per geopolitical zone to review all debts of unpaid certified certificates generated before May 29t, 2023, and from May 29, 2023, to date,” the statement added.