Nigeria's Minister of Works and Housing, Babatunde Fashola has said the construction work on the East-West road will cost N200 billion, including N13 billion on the failed Eleme axis of the road.



Fashola said this on Wednesday, December 14 during a visit to Rivers State to check out the work on the 38km Bodo-Bonny link road under construction.



Fashola explained that funding for the N200 billion project was under a tax credit scheme arrangement between the Federal Government and Nigerian Liquefied Natural Gas NLNG, though it was a full government project.



“We are trying to connect two communities of Rivers, Bodo on the mainland and Bonny on the island. And it’s instructive to point out because I hear some comments that the Federal Government is not doing anything in Rivers.

“Bodo and Bonny are parts of Rivers. This is an investment of N200 billion in one state. But the money is not as important as its long-term significance. So, when you talk about poverty and you see a report about 133 million people in poverty, yes, those are the problems, but what are the solutions? This is one of the solutions.


“The project will be finished next year, and for clarity, it is funded by a policy of this government – the tax credit scheme initiated by President Buhari in 2019. So, NLNG is investing in it and the Federal Government is paying them back by giving them tax waivers over time,” he said.


Source: https://www.confluenceplus.com.ng/2022/12/east-west-road-project-to-cost-n200bn.html?m=1

Dem never finish this road? Meanwhile GEJ finished Ughelli-Warri section and Patani bridge.

ozokwa?

Fantastic criminal!
Just look out how the crooks mention billions for fun.
This was how they used almost a trillion naira for the Abuja to Kano highway.
In the whole world, Nigeria has the notorious reputation of building a kilometer of road with the biggest amount of money. And it started under Fashola in Lagos, when he nearly used a billion naira to do a kilometer of road, while the international average as at then was less than 100 million! At that rate these vampires are going, it's only a matter of time before the yearly budgetary allocations for the Ministry of Works becoms insufficient to do just a single road!
Fasholas emergence as a federal minister is a testament to the uselessness of The National Assembly.
Dude should NEVER have been cleared.

Interesting...

owobokiri:
Fantastic criminal!
Just look out how the crooks mention billions for fun.
This was how they used almost a trillion naira for the Abuja to Kano highway.
In the whole world, Nigeria has the notorious reputation of building a kilometer of road with the biggest amount of money. And it started under Fashola in Lagos, when he nearly used a billion naira to do a kilometer of road, while the international average as at then was less than 100 million! At that rate these vampires are going, it's only a matter of time before the yearly budgetary allocations for the Ministry of Works becoms insufficient to do just a single road!
Fasholas emergence as a federal minister is a testament to the uselessness of The National Assembly.
Dude should NEVER have been cleared.

We warned Nigerians about those people from the waste side entering National politics.