In a detailed account of the Federal Government’s infrastructure commitments, Minister of Works, Dave Umahi, has disclosed that the incumbent administration inherited a staggering N14.42 trillion worth of ongoing projects as of May 2023, encompassing 18,932.50 kilometers of roadwork and infrastructure development.
To date, approximately N3.12 trillion has been paid towards these projects, out of a certified expenditure of N4.73 trillion.
Umahi provided this update during a recent press briefing, marking his first year in office. He highlighted the substantial financial obligations faced by the government, noting that it currently owes contractors N1.61 trillion.
Furthermore, he projected a funding gap of N13 trillion to complete all inherited projects, which could exceed N16 trillion when updated to reflect current market conditions
