FG needs N3tn to complete NNPCL’s tax credit road projects, says Umahi
2 min read
By Chris Ochayi
ABUJA: The Minister of Works, Engr. Sen. David Umahi has disclosed that a total sum of N3 trillion is required to fund the completion of all road projects ongoing under the NNPCL tax credit scheme.
Engr. Umahi made the disclosure while addressing newsmen on sitate of road infrastructure projects across the country on Wednesday at the Ministry’s headquarters in Mabushi, Abuja, nothing that no project under the scheme would be abandoned.
He said, President Bola Tinubu has directed that another means of funding should be provided for the projects to ensure they are completed.
He added, “And for me, he is our President, you know, is a man with a large heart that decided to do that.
“So, now, we have NNPCL stopping the funding the projects, since from the 1st of August. And so, we tabled the matter to FEC, in the last FEC on Thursday.”
“And Mr. President, sitting as the Chairman of the Federal Executive Council, FEC, directed that we should provide another means of funding the project, and to complete them.
“So, let me announce that Mr. President directed that no NNPCL project should stop, and that alternative funding mechanism will be put in place to do it.”
Umahi noted that, “Like I said, NNPCL projects where we need a total of N3 trillion to have them totally completed. So we have compiled them.
“We are going to make it available to Mr. President on that and any of them that qualifies for PPP, and then we see that the contractor has capacity and has fund.”
The Minister, however warned contractors without capacity execute contracts of such magnitude to stay away nothing that the Ministry will not tolerate contractor hoping to play game.
He said, “When we go into the exercise, we not leave the fate of our people in the hands of anybody that wants to play games, playing games to believe that along the line, the federal government will bring money to them, or that they will default, and then they will do call up option, whereby they go to take money from Federal Government.”
Apparently referring to himself, the Minister of State and the Permanent Secretary of the ministry, Umahi said, “We are three wives. These people you see here are three wise men. We will not allow that to happen. We see the money. We see your equipment. We see your contractor. We see your capacity. We will charge that road.
“And one of our key elements in that name is that as we are removing contractor from the site, you are also starting the project immediately. Only one week gap is allowed.
“So that is all that we are talking today. But if you have such projects in the major projects that are going on, you know, we’ll be able to answer you, and we give good account of what the President is doing.”
