Emmanuel OchayiThe Minister of Works, David Umahi, disclosed the government’s $35 billion plan to revolutionize road construction nationwide.
In a meeting held at the Ministry’s headquarters in Abuja, Umahi emphasized the role of the moribund Ajaokuta steel company, highlighting its contribution of 16% of the steel material for the country’s concrete pavement road construction.
Join our WhatsApp ChannelUmahi underscored the urgency of the initiative, stating, “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 looking at a partnership with a commercial bank but Federal Executive Council has to endorse it.”
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This revelation marks a significant shift in strategy, moving away from conventional funding approaches towards innovative partnerships with commercial banks, a move contingent upon the approval of the Federal Executive Council.
Emphasizing the need for proactive measures, Umahi reiterated, “If this could be done, it means Mr. President is living up to his words, and this is going to be possible.”
The meeting, attended by Minister of Steel Development Shuaib Audu, emphasized the importance of coordination and cooperation between ministries for national development.
A statement by the Chief Press Secretary to the minister, Orji Uchenna, highlighted the critical role of synergy between ministries in executing the Federal Government’s action plans.
Furthermore, Umahi and Audu resolved to strategize on leveraging opportunities within the Ajaokuta Steel Plant to bolster Nigeria’s road infrastructure. The minister envisioned the impact of harnessing the steel industry’s potential, foreseeing job creation, wealth generation for Nigerians, and bolstering global market industrialization.
Reflecting on the visionary approach of President Muhammadu Buhari’s administration, Umahi emphasized the need to think innovatively, stating, “One of the renewed hope agendas of Mr. President is to think outside the box. The good thing is that if you have passion for something, God will give you an idea.”
The minister’s revelations signal a proactive shift in infrastructure development, combining innovation, public-private partnerships, and resource optimization to steer Nigeria towards a transformative road construction era.
Emmanuel Ochayi is a journalist. He is a graduate of the University of Lagos, School of first choice and the nations pride. Emmanuel is keen on exploring writing angles in different areas, including Business, climate change, politics, Education, and others.
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