In the recently approved 2023 supplementary budget, the Federal Government has earmarked a significant sum of N400 billion for the construction of roads and various infrastructural projects across Nigeria. This allocation was made evident by Nairametrics, a financial news outlet.
The detailed spending plan for Ministries, Departments, and Agencies (MDAs) in the 2023 supplementary budget unveiled the allocation of N300 billion as capital expenditure under the Ministry of Works for the construction of road projects nationwide. Additionally, N100 billion was appropriated to the Ministry of Housing for the provision of infrastructural projects across the country.
The N300 billion designated for the Ministry of Works as capital expenditure will play a pivotal role in the development of road infrastructure. It encompasses the construction of a total of twenty road projects, strategically spread across the six geopolitical zones. These projects will also entail the rehabilitation and repair of highways throughout the nation.
The total cost for these 20 new road projects stands at an estimated N58 billion. Some of the notable projects within this category include the rehabilitation and dualization of the Enugu – Abakaliki – Ogoja road, the construction of the Ayegun – Oleyo road, and the dualization of the Amuobia – Ekwulobia – Mokwa road, among others.
Concerning the rehabilitation of highways in various regions, the budget outlines N5.9 billion for the North Central zone, N8.5 billion each for the North East and North West zones, and N8.4 billion for the South East zone. The South West zone is allocated N10.9 billion for the rehabilitation of its highways, while the South South zone receives a substantial N31 billion for similar projects.
In addition to road construction and rehabilitation, the supplementary budget includes provisions for various infrastructural projects. The Ministry of Housing receives N100 billion for slum upgrades and urban renewal initiatives spanning the entire nation. This substantial allocation is geared towards the construction of 40,000 units of Renewed Hope mini cities/estates across all 36 states.
For the ambitious National Housing Program, N50 billion has been allocated to support the construction of the aforementioned 40,000 housing units. An additional N50 billion is designated for the creation of developmental infrastructure and facilities, with a focus on urban renewal and slum upgrades throughout Nigeria.
