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N392bn Debt: FG To Focus On Priority Projects, Says Fashola - Politics - Nairaland

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N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Officialhorlah(m): 10:48am On Nov 06, 2020
Minister of Works and Housing, Babatunde Fashola (SAN), has disclosed that due to the burden of unpaid certificates totaling over N392 billion, the federal government would carefully select projects to execute in the 2021 budget, instead of starting new ones.

A statement signed by the Director of Press and Public Relations in the ministry, Boade Akinola, noted that Fashola stated this during the 2021 budget defence of his ministry before the House of Representatives Committee on Works, and reiterated that the budget would focus on road projects, especially those on routes A1-A9.

Fashola explained to the committee that the disparity between the liabilities in unpaid certificates and the budgetary provisions over the years had compelled the ministry to prioritise its capital proposals in order to make appreciable impact.

According to him, “Given the wide disparity between the liabilities in unpaid certificates in the total sum of N 392, 019, 827, 093.87 and the budgetary provisions over the years, it has become imperative that the ministry prioritised its 2021 capital proposals.

“This is being done in order to make appreciable impact within the period of 2021 to 2023, which can be physically experienced by road users. The focus of the 2021 budget proposal of the ministry remains the completion of some priority road projects, especially those on routes A1-A9.”

The minister stated that President Muhammadu Buhari has repeatedly emphasised on the need to focus the budget on completion of projects, explaining that the ministry has given priority to 18 roads and bridges that have already attained some appreciable physical achievement for completion within a period of 12 to 15 months by December 2021.

He noted that among the prioritised road projects are roads and bridges that lead to ports and major agricultural hubs across the six geo-political zones, pointing out that focus was also made on roads

that attained 70 per cent completion.

In the same vein, Fashola told the committee that his ministry had categorised the total of the 711 highway projects currently being undertaken in the six geo-political zones of the country according to the available funding mechanism.

According to him, the funding mechanisms include the Presidential Infrastructure Development Fund (PIDF), highway projects financed with Sovereign Sukuk Fund, and those financed under tax credit and others from multilateral loans.

“The ministry has selected two roads and a bridge per zone for enhanced funding in the 2021 budget to achieve appreciable progress on the projects. Also targeted for adequate funding is the federal government counterpart fund for the projects financed by the China Exim Bank.

“The major challenge to the ministry’s efforts towards the timely completion of projects is inadequate budgetary provision and releases for projects to sustain annual cash flow requirement levels,” he lamented.

https://www.thisdaylive.com/index.php/2020/11/06/fg-responsible-for-crises-in-nigerian-varsities-says-ASUU/

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Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by amerengues(m): 10:49am On Nov 06, 2020
“The major challenge to the ministry’s efforts towards the timely completion of projects is inadequate budgetary provision and releases for projects to sustain annual cash flow requirement levels,” he lamented.

Can we say inadequate budgetary provisions or Incompetence is the issue here? Well, I will go with the former. Just like proliferation of Universities without taking care of the established ones. Focus and complete the roads before embarking on another.


I hope these debts will not spell doom for the future.

2 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by GoodofNaija: 10:52am On Nov 06, 2020
The abokis have turned this one to looting pipe undecided

16 Likes 1 Share

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Rugaria: 11:03am On Nov 06, 2020
He looks like a hawk...

22 Likes 1 Share

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Nairalanderz(m): 11:14am On Nov 06, 2020
It is really no longer sustainable for the government to depend on Niger Delta oil to run the country. I hope they'll put sentiments aside and truly restructure the country so that states can be creative in using their comparative advantage to develop the resources in their respective domain and pay a certain percentage to FG as tax. Even the Brazil that we now want to borrow from is a major oil producing nation like us but they developed other sectors of their economy, hence the global drop in oil price did not affect them to the extent that they're even lending us money. But who defines a priority project anyway?

25 Likes 2 Shares

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by epicmadam(f): 12:02pm On Nov 06, 2020
Detective Fashola sef dey use G shock grin grin grin

Don't forget that i have magic organic seeds for ladies that have deficiency in their butts, hips and breasts . Chat me up before considering artificial implanting or surgery which at times ends in disaster. I'm just a click away

1 Like

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Macphenson: 12:03pm On Nov 06, 2020
Okoo
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Abilistic(m): 12:03pm On Nov 06, 2020
Not only Priority projects but white elephant projects like N1.2b for Aso clinic paracetamols.


Jokers!

2 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by oluwaseunamos33(m): 12:03pm On Nov 06, 2020
PRIORITY BY MOUTH
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by gunners160(m): 12:03pm On Nov 06, 2020
it is awe when people you hold with high self esteem become nuisance over night. When Fashola was the governor of Lagos, I saw him as a man to solve Nigeria's problem with the way he managed Lagos so well that his praises was being sang even to those of us who have not been to Lagos.
Today, reverse his the case, he is one of the most nitwit minister in BUHARI's CABINET who don't even know what they are doing. He is as useless as Penis that does not cum

6 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Sunnycliff(m): 12:03pm On Nov 06, 2020
I owe my family to leave this country, so they won't be born with debts hanging on their head.

7 Likes 1 Share

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Viicfuntop(f): 12:04pm On Nov 06, 2020
H







Lol. Has there been a government worse than this government?

By the way I play chess on lichess but mostly antichess. I feel like I’m the only Nigerian there. Is there any chess player here on lichess who plays antichess often?
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by IlovePMB: 12:04pm On Nov 06, 2020
Borrow borow government

1 Like

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by paulolee(m): 12:04pm On Nov 06, 2020
continue taking debts till u drown d country in debt b4 d next president takes over...jus continue

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Amspecial: 12:04pm On Nov 06, 2020
grin
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by KINGJAJA888(m): 12:05pm On Nov 06, 2020
Wahala for who never learn Chinese language grin

Nigerian name: Joseph.
Chinese name: Joe quin haaa grin

Dis Country and debt. 5 & 6 cry

1 Like

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by ODJ124(m): 12:05pm On Nov 06, 2020
That's good.. instead of leaving them abandoned...





Thread seen.. .

1 Like

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by jossytech(m): 12:05pm On Nov 06, 2020
So all this loans are actually stolen by this men, billion dollars, why can't they pay 300b naira to contractor,. .. cursed nation, criminal leader
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by pickatyou2: 12:05pm On Nov 06, 2020
Priority project like looting.




Check my signature for car tracking services
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Nobody: 12:05pm On Nov 06, 2020
cheesy.. The good thing about this administration is that the projects are actually visible and real.. And extremely necessary too.. Infrastructure, Agriculture, Youth empowerment, name them.. Everything is transparent, real and merited.

God bless President Mohammadu Buhari.
God bless Professor Osinbajo.
God bless Nigeria.

2 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Biafrawemove: 12:05pm On Nov 06, 2020
haaaa camera man!!!
Priority?!
Priorities with borrowing or inflation of budget

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Imstrong2(m): 12:05pm On Nov 06, 2020
Usual language
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by money121(m): 12:05pm On Nov 06, 2020
Ok
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by superior1: 12:06pm On Nov 06, 2020
Detective Fash, relocate to vigilante department and stop wasting away like your oga
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by NofiuFade(m): 12:06pm On Nov 06, 2020
GoodofNaija:
The abokis have turned this one to looting pipe undecided
grin grin una get bad mouth sha, chai grin #LootingPipe

2 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by tolumizzy(m): 12:06pm On Nov 06, 2020
God would soon expose you evil men
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by EMXTAN1(m): 12:06pm On Nov 06, 2020
Kukuma borrow ur citizens out ....
Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Rebuke: 12:06pm On Nov 06, 2020
Smh. Same story, same people, same way of doing things...... unfortunately, it's only a fool that will continue to do the same thing same way and expect a different result.

This government is everything fake, lies and silly self defence.

They have been in power for more than 5years now and all they know best to do is cover up.

Keep borrowing and nothing to show for.

For anyone who still defends this government, please tell me categorically how this government has improved yhur living conditions as "an ordinary Nigerian."

And please, don't tell me about rail and all that road bullcraps! They only exist in yhur imagination........

2 Likes

Re: N392bn Debt: FG To Focus On Priority Projects, Says Fashola by Nancy1986: 12:07pm On Nov 06, 2020
The real reason why Biden will win is because

They say The best fruit is always ForBiden

1 Share

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