Minister of Works and Housing, Babatunde Fashola, said the federal government is currently undertaking 895 road and bridge contracts as well as fixing internal roads in 43 tertiary institutions in the country.
He said with such activities, it was clear that infrastructure development is the sure and legitimate way of growing the economy and delivering prosperity to the citizenry.
The minister in a statement signed by the director of press and public relations, Boade Akinola, said, “Infrastructure is a legitimate way to grow the economy and deliver prosperity to the citizenry.”
He noted that there are, “895 on-going highway and bridge contracts across the country, the rehabilitation of internal roads of 43 federal tertiary institutions, construction of six new federal secretariats in Anambra, Bayelsa, Ekiti, Nasarawa, Osun and Zamfara states, construction of housing estates in 34 states of the federation under the National Housing Programme (NHP) among others.”
According to him, the priority given to infrastructural development, informed the need to improve road transport infrastructure assets and formulate policies to address the problem of deteriorating public assets.
Fashola said due to paucity of fund, government had to look for alternative sources of funding which include the Presidential Infrastructure Development Fund, SUKUK fund, Road Infrastructure Tax Credit Scheme (RITCS), Multi-lateral loans/grants and collaboration with other government agencies like North East Development Commission (NEDC) in order to achieve the objectives of the Economy Recovery and Growth Plan ( ERGP).
He also listed the rehabilitation of 60 bridges across the country, scheduled maintenance of 5,461.88km of roads and 8,000km of highway maintenance which include vegetation control, desilting of drains, sleeves and ducts by the Federal Road Maintenance Agency (FERMA) and the rehabilitation/maintenance of 24 federal secretariats across the country as some of the results of the investments in infrastructure.