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FG Releases N100bn For Ibadan-Ilorin Road

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FG Releases N100bn For Construction Of Ibadan-Ilorin Road

The Federal Government has completed the process for the reconstruction and rehabilitation of Ibadan-Ilorin Road.

 

FG Releases N100bn For Construction Of Ibadan-Ilorin Road

Damaged Road

The Ibadan-Ilorin Road alongside 25 major economic roads, in the six geopolitical zones of the country,  will have a new phase courtesy of the N100bn sovereign sukuk.

Speaking about the sukuk,  The Finance Minister stated that “the sukuk was over-subscribed, as over N105bn was realised, adding that N100bn was pulled out for the purpose of road construction”

She said, “This is the first sukuk in Nigeria and it is an important development in our financial market because it will deepen it. It was over-subscribed; we got N105.87bn and we are giving N100bn to the ministry of works. This money is going to be used for economic roads.”

The ministers of Power, Works and Housing, and Finance, Babatunde Fashola and Kemi Adeosun, as well as the Director-General, DMO, Patience Oniha, met with heads of about 10 construction companies in Abuja on Thursday, where Adeosun presented the N100bn cheque for the projects in order to ensure commencement of the construction of these roads in earnest.

The construction companies involved include Arab Contractor Nigeria Limited, CGC Nigeria, CCECC Nigeria Limited, Salini Nigeria Limited, Reynolds Construction Company Nigeria Limited and Setraco Nigeria Limited are some of the beneficiary contractors, Dantata and Sawoe Construction Company Nigeria Limited, Eksiogullari Nigeria Limited, Mothercat Limited and Gitto Constrizon Generali Limited.

The government outlined the number of roads to be rehabilitated in each of the zones to include five each in the North-Central and South-South; four each in the North-East, North-West and South-East; and three in the South-West.

The Federal Government however, opined that equal sum of money will be given to each zone. this will mean that N16.67bn will be allocated for the rehabilitation of each of selected roads.

The selected roads that have been identified include the famous Oyo-Ogbomosho road which will benefit from the N16.67bn for the South West. Others  include the Obajana-Okene road in Kogi State; Aba-Port Harcourt road in Rivers State; Ajebandele-Sagamu road that goes through Ondo and Ogun states; and the Kaduna Eastern by-pass in Kaduna State.

Fashola said that the reconstruction of these roads are necessary as they hold very important significance to the economy of the country.

Addressing the contractors, The Minister of Power said “First of all, I think the problems that you identified earlier when we met were mainly two, finance and weather. And I promised you that we would solve the finance problem and nature would take care of the weather problem”.

“The Minister of Finance is here and you will hear from her, because already the finance problem has been solved.”

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  • FG Releases N100bn For Construction Of Ibadan-Ilorin Road

    FG Releases N100bn For Construction Of Ibadan-Ilorin Road

  • FG Releases N100bn For Construction Of Ibadan-Ilorin Road

Writing is everybody's business but journalistic writing is meant for those mindful of the business. Public interest is journalism and not just entertainment.Tthis simply defines me a writer and editor. I can be reached at [email protected]

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President Muhammadu Buhari Offers A Condolence To The Jigawa State Governor

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President Muhammadu Buhari Offers A Condolence To The Jigawa State Governor

The President of the Federal Republic of Nigeria, Muhammadu Buhari Offers Condolences to the Jigawa state Governor, Abubakar Badaru due to the death of his mother in law Hajiya Binta Garba Tasha Funtua, NIGERIA NEWS reports.

Mr. President offered the condolences via his spokesperson, Garba Shehu on Sunday.

Presidential condolence message hereby goes, “I am profoundly touched by the passing of your mother-in-law, Hajiya Binta Garba Funtua and I join your entire family in mourning the inspiring mother.

“Your Excellency, words cannot express my grief over the demise of this great woman. My thoughts and prayers go out to you and all members of your family at this difficult time.

“While extending my condolences for this irreparable loss, I pray to Almighty God to comfort you and members of your family. May Allah forgive her shortcomings and reward her good deeds with aljanna. Amin thumma Amin.’’

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Umar Ganduje Has Taken An Aggressive Move On The Alleged Missing N6.8M At The Zoo (Full Details)

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Umar Ganduje Has Taken An Aggressive Move On The Alleged Missing N6.8M At The Zoo (Full Details)

The Kano state Governor, Abdullahi Umar Ganduje has taken a step on the alleged Gorilla that swallows the sum of 6.8 million naira at the Zoo, NIGERIA NEWS reports.

The incident which happened during the Eid-Fitr celebration and this has made the Governor of the state, Umar Ganduje to reacts in giving an order to get to the root of the matter.

According to the report gathered from the Managing Director of the Zoo, Umar Kobo, he narrated the ordeals by stating that:

“The issue is under investigations for now and I don’t want to say anything on the matter, many journalists have come to meet me but I don’t want to talk anything.

“What I can confirm is that money is missing.”

The Police representative in Kano, Abdullahi Haruna reveal the reports which state that 10 people that were on duty when the incident occurred have been apprehended and the investigation into the root of the matter is currently ongoing.

Mr. Haruna states as quoted below:

“Yes, it is true that money from five days of Sallah festivities is missing from the Kano zoo

“As at now, we have arrested 10 members of staff of the zoo including the security man and those working in the finance unit.”

The NIGERIA NEWS earlier reports that Ganduje has instructed the Anti-corruption commission to probe anyone involved in the incident. The order was reported by the Chief Press Secretary to the Governor, Abba Anwar.

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