FG To Take loan For the Completion of Abuja-Keffi Road
The Federal Minister of Works, Mike Onolememen has insisted that Nigeria is not broke despite the falling oil prices and infrastructure projects can still be funded with ease.
Onolememen also disclosed that the Government was planning to acquire an EXIM loan from China for the construction of Abuja-Keffi road as the ministry had finally gotten the certificate of no objection from the Bureau for Public Procurement for the award of contract and is now awaiting the President’s approval.
When addressing the issue of backdrop of the less contracts being awarded for roads across the country, the minister said that the federal government will continue to fund infrastructural projects so as to catalyse economic growth.
He said: “In terms of fallen oil prices, like you said that is a global phenomenon and Nigeria is not broke, the fact that the oil prices are falling we have not reached a stage that Nigeria cannot continue to fund infrastructure projects in our country.
”The federal road network has a total assets value of close to N7 trillion and we cannot sit down and fold our hands, we must keep renewing our assets, we must keep expanding them if we are to support economic growth in our country and if we are to meet the objective of vision 202020.”