Minister of Works, David Umahi says the government requires $35bn to kick-start the construction of concrete roads nationwide.

Umahi disclosed this when he met with his counterpart, the Minister of Steel Development, Shuaib Audu, at the ministry’s headquarters in Abuja.

In a statement on Tuesday, the Chief Press Secretary to the minister, Orji Uchenna, said the meeting underscored the imperative of coordination, cooperation, and coherence in executing the Federal Government’s action plans for national development.

He also stated that the dying Ajaokuta steel company will provide 16 per cent of the steel material and 30 per cent of the cement needed to construct Nigeria’s roads in concrete pavement.

“How do we reactivate the Ajaokuta Steel? We are going into the concrete road; in this concrete road, about 16 per cent is from Steel while 30 per cent is cement. We need a lot of money to start, but we decided to face it, and God has given us an idea.

“We need about $35 billion to start. If we start waiting for FG, it might become difficult. We analyzed the Return on Investment and the profit we could have made; part of it will go to bank interest.

“We are considering a commercial bank partnership, but the Federal Executive Council has to endorse it. If this could be done, it means Mr President is living up to his words, and this will be possible,” he said.

TechTanic:
Okay Sir. Send your bank details.

insidelife22:
They are warming up to finally sell this country.

Hope my share is asured

Faiththatworks:
Action Minister,Your Excellency Engr David Umahi is perhaps one of Asiwaju's greatest signing.The figures released by Statisense indicates that Ebonyi received not too much from FAAC yet His Excellency did a marvelous and commendable job in Ebonyi
As for the funds needed to commence construction,it is very simple sir
Let this administration sell off at least two of those scrap metals called Refineries,sell off some wasting federal government assets which are wasting away across the federation
Places like the Federal Government Secretariat in Ikoyi.This government will have enough change to execute this mandate
It might seem stupid but why spend money on things that are not generating income
Also,His Excellency we thank you for the Lagos to Calabar project.I pray that this government is able to finish that project
It will really help companies around the Ibeju Lekki Industrial Hub with alternatives to quickly evacuate their products instead of using the Epe Ijebu Expressway
Kindly click on this link to get my property which is around the busy Ibeju Lekki Industrial Hub:
https://www.nairaland.com/7905627/introducing-strongtower-estate-ode-omi#126875204

TechTanic:
Okay Sir. Send your bank details.

Thonyboy:


https://.ng/2023/11/22/35bn-required-to-kick-start-road-construction-nationwide-umahi/

Thonyboy:


https://.ng/2023/11/22/35bn-required-to-kick-start-road-construction-nationwide-umahi/

jkpbestseries:
Don't use the dollars to confused us, tell us the amount in naira.... Am not a mathematician to begin to convert dollar to naira