President Muhammadu Buhari at the State House in Abuja/ Twitter
President Muhammadu Buhari has approved $1.3 billion (N468 billion) to bankroll five critical projects in the country.
The money is from the National Sovereign Investment Fund with the projects including the second Niger Bridge, the East-West Road the Lagos-Ibadan Expressway.
Information and Culture Minister Lai Mohammed revealed this on Sunday where he also stated that the Abuja-Kano road and the Mambilla power project will benefit from the fund.
“We believed that rather than starting new projects, it will benefit Nigerians to complete all inherited abandoned projects,” the minister told the NTA.
“To appreciate the commitment of the administration to infrastructure: In 2014 Nigeria spent N14 billion on transportation, N34 billion on water resources and agriculture and N106 billion on power works and housing.
“In 2017, this administration spent N107 billion on transportation, N130 billion on agriculture and water resources and N325 billion on Power, Works and Housing.
“The administration, in a manner unprecedented in the history of the country, spent a total of N2.7 trillion on capital projects in 2016 and 2017 alone.”