Transport Minister Presents N92.6bn 2023 Budget

The minister of transportation, Mu’azu Jaji Sambo has presented a budget of N92,633,608,218 to the joint committee of the Senate and the House of Representatives on Land and Marine Transport for the ministry and its agencies for 2023 fiscal year.

The minister who made this known at the budget presentation on Thursday at the national assembly in Abuja, also presented the 2022 budget performance, of the ministry which was N147,549,080,677 out of which N52,134,727,253.22 representing

35.33 per cent  has been released and  N38,904,208,345 has been utilized as at October 25, 2022.

The minister also informed that the ministry through the support of the joint committee is implementing the Nigeria Railway modernization project and progressively expanding the Railway network through yearly budgetary appropriations, following the challenges being faced in securing counterpart funding  through loans.

He disclosed that the implementation of the Kaduna – Kano, Port Harcourt- Maidugiri and Kano-Maradi segments of the railway modernisation was ongoing with the  federal government counterpart funding in the 2022 appropriation, while expecting the Federal Ministry of Finance to conclude negotiations of the loans with the Infrastructure Development Finance Institutions of the Chinese, Portuguese and Turkish origin to implement the projects.

While soliciting for favourable budget consideration, the minister said: “Permit me to also report that the Lagos – Ibadan segment of the Lagos – Kano and Itakpe to Warrii railway project are fully operational and receiving patronage from the general public. To reach practical completion on these projects, some aspects of works, including construction of  Overpass Bridges, connection to the National Grid and other ancillary provisions have to be completed.

Therefore, adequate funds need to be provided in the 2023 budget to facilitate the practical completion of the projects”.