Business News

FG allocates N400 billion for roads and infrastructure in 2023 supplementary budget

In the recently approved 2023 supplementary budget, the federal government appropriated the sum of N400 billion for the construction of roads and other infrastructural projects across the country.

Naijaonpoint obtained this figure from the addition of the 2023 supplementary budget appropriation to the Ministries of Work and Housing the ministries responsible for the provision of roads and infrastructural projects nationwide.

In the 2023 supplementary details of MDA spending, N300 billion was earmarked as capital expenditure under the Ministry of Works for the construction of road projects across the nation while N100 billion was appropriated to the Ministry of Housing for provision of other infrastructural projects nationwide.

The N300 billion appropriated to the Ministry of Works as capital expenditure for road projects covers the construction of twenty (20 ) road construction projects across the six geopolitical zones, as well as rehabilitation and repairs of highways nationwide.

The sum of the cost of construction of the 20 new road projects across the country stood at N58 billion. Some of the new road projects included in the 2023 supplementary budget include the rehabilitation and dualization of the Enugu – Abakaliki – Ogoja road, the construction of the Ayegun – Oleyo road, and the dualization of the Amuobia – Ekwulobia – Mokwa road, among others.

Regarding the rehabilitation of highways nationwide, N5.9 billion was appropriated for roads in the North Central zone; N8.5 billion for the North East zone; N8.5 billion for the North West zone; and N8.4 for the South East zone.

The budget appropriated for the rehabilitation cost of highways in the South West zone is N10.9 billion while N31 billion was budgeted for the South South zone.

According to the 2023 supplementary details of the MDA spending, the N100 billion allocated to the Ministry of Housing is for slum upgrade and urban renewal across the six geopolitical zones of the country and the construction of 40,000 units of Renewed Hope mini cities/estates across the 36 States.

For the construction of the 40,000 units under the National Housing Program, the federal government appropriated N50 billion for the project, while N50 billion was allocated for the provision of developmental infrastructure and facilities across the country for urban renewal and slum upgrade.