• Puts Nigeria’s infrastructure deficit at N15tn
The Federal Government on Thursday said it was investing $1bn on the construction of the Lagos-Ibadan Expressway, Second Niger Bridge, and Abuja-Kaduna-Zaria-Kano Expressway.

It disclosed this at the official opening of the 51st Annual Conference of the Nigerian Institution of Estate Surveyors and Valuers, adding that over N15tn would be required to bridge the country’s infrastructure deficit.

In his keynote address at the conference, the Vice President, Prof. Yemi Osinbajo, who was represented by the Minister of State for Works and Housing, Abubakar Aliyu, spoke on how the Federal Government had been intervening in some selected sectors.

He said, “On roads, the government created the Presidential Infrastructure Development Fund, investing over a billion dollars in three flagship projects: the Lagos-lbadan Expressway, Second Niger Bridge, and Abuja-Kaduna-Zaria-Kano Expressway.

“The government also approved Executive Order 7, which essentially mobilises private investment through a tax credit scheme to encourage the private sector to invest in road construction for tax rebates.

“Similarly, the implementation of the Highway Development and Management Initiative is ongoing. This is a PPP (public private partnership) programme to mobilise at first over a trillion naira in private investment for the development and maintenance of 1,963km of 12 roads.”

Also speaking at the event, the Minister of Works and Housing, Babatunde Fashola, said the development of critical infrastructures such as the provision and maintenance of new roads and bridges, airports, rail infrastructure, among others, had salutary impacts on the real estate sector.

“It is therefore in realisation of this fact that the Federal Government has taken deliberate steps to bridge our infrastructural deficit, which is estimated to be in excess of N15tn,” the minister, who was represented by an official of his ministry, Aisha Mohammed, stated.


He said the government understood that real estate development was hinged on land and was making conscious efforts with respect to the accessibility, affordability and security of land and titles.

Fashola said, “Between July 2018 and May 2021, the Federal Ministry of Works and Housing has processed and issued 4,628 Certificates-of-Occupancy and 2,230 consents to secondary land transactions.

“These titles are used by holders to access investible loans to start new businesses or grow existing ones, thus expanding the economy and creating jobs for our teaming youths.”

The President and Chairman of Council, NIESV, Okas Wike, called for improvement in the security situation across the country, stressing that this was having severe negative impact on the real estate sector.

He said the Federal Government must understand that the implications of the insecurity situation on business activities in Nigeria could not be overemphasised, as widespread insecurity was hampering business investments.

Q https://punchng.com/were-investing-1bn-on-lagos-ibadan-expressway-two-others-fg/

Mentioning billion of dollars as if it's moi moi


We have not paid half of the previous administration own yet this government has borrowed 50 times of the last administration


I hope the north would get ready to be farming slaves for the Chinese when oil becomes useless in a few decade

This pppl no get respect for money again ooo see as them dry call am any how
And I think its insulting and diminishing for a federal republic to be giving contracts in dollars when we have our own currency.

In other words blame FG first for how naira has lost value

The Lagos Ibadan the government has been fixing for 30 years

A kiss kissed can be rekissed if the kisser and the Kissee agrees that the kiss kissed was not well kissed. Nigeria matter na to just dey laugh now.
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No doubt. No government had invested on infrastructure than the Buhari Osinbajo administration, even with less.

The era of ghost award of project and ghost project are gone. This is doer administration.

God forsake insecurity, i hope the security challenges end soon so that we can have peace of mind to enjoy these giant stride in infrastructure.

According to the Lagos-Ibadan expressway has been completed and fully paid for, now billion of dollars will be spent again, by the time this government of deceit finish, people will so pummed they will not be able to resist voting incompetency.

Nonsense!

Ride on

See their mouth like billion...


Nairalanders, I'll be grateful if I can be helped. My mum has been diagnosed of arthritis, and there's little or no funds to settle her outstanding debt for treatment.
I'll be grateful if I could be assisted.

I don't know which year we will stop allocating funds to this lagos- Ibadan express way...

Or are constructing road to heaven?

Wahala

Lies, Lies and Lies

Even fashola whom we thought was diligent and honest has been drawn into their cesspool of corruption.

All these mega projects mentioned will be used as a medium to loot more of the nation wealth in years to come , the mile 2 - badagry express road is a major example

Thieves....

Good developments.

Ok

Start using concrete roads gradually all over Nigeria, rather than every Government going back and forth on same roads.

Will this road ever be completed?? This croks have been allocating billions for years on this road yet its work in progress forever, different president yet its still work in progress. I can bet my balls that this tenure would not complete it and the next to come will still do the same.
How long are we going to play this game??

Worldwise:
I don't know which year we will stop allocating funds to this lagos- Ibadan express way...

Or are constructing road to heaven?

I guess you’ve never ply that route, otherwise you won’t be splitting this ignorance.

These figures sha

iwaeda:
According to the Lagos-Ibadan expressway has been completed and fully paid for, now billion of dollars will be spent again, by the time this government of deceit finish, people will so pummed they will not be able to resist voting incompetency.

you get comprehension issues

Good work

Read me

Lagos - Ibadan expessway is the busiest road in Nigeria

Final embezzlement

useless talk. I hope people like you reap everything, both good and bad, from this government u support

Jollylolly:
No doubt. No government had invested on infrastructure than the Buhari Osinbajo administration, even with less.

The era of ghost award of project and ghost project are gone. This is doer administration.

God forsake insecurity, i hope the security challenges end soon so that we can have peace of mind to enjoy these giant stride in infrastructure.

Build the lagos-calabar rail.

It would ease significant pressure on the lagos-ibadan expressway, and it has the potential to even pay off itself and the other rail projects all together.

Why is Buhari not seeing this.

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Lagos is enyoying the dividends of voting APC. Vote a party that has your interest. In politics no permanent friends nor enemy just interest. But some people will be crying marginalization when you did not vote for APC.