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The Joint National Assembly Committee on Works has conceded that the annual budgetary allocation for road construction is grossly inadequate to bring Nigeria’s roads and highways to the required standards.
This was a submission made during an Interactive Session of the Senate and House Committees on Works on Public-Private Partnership on Road and Infrastructure held with the Works Ministry and the Infrastructure Concession Regulatory Commission ICRC.
The Co-chairmen from the Joint Committees noted that it is imperative to make the about 35,000 kilometers of Federal Roads and Highways largely private sector driven.
In his submission, the Minister of Works and Housing, Babatunde Fashola said Nigeria is yet to fully harness the huge investment potentials of Nigeria’s vast stretch of roads and highways.
The total sum of N163.23 Billion is required for the continuation of ongoing road projects under the Highway Development and Management Initiative HDMI.