Minister of Works, David Umahi says the government requires
$35bn to kick-start the construction of concrete roads nationwide.
Umahi disclosed this when he met with his counterpart, the
Minister of Steel Development, Shuaib Audu, at the ministry’s headquarters in
Abuja.
In a statement on Tuesday, the Chief Press Secretary to the
minister, Orji Uchenna, said the meeting underscored the imperative of
coordination, cooperation, and coherence in executing the Federal Government’s
action plans for national development.
He also stated that the dying Ajaokuta steel company will
provide 16 per cent of the steel material and 30 per cent of the cement needed
to construct Nigeria’s roads in concrete pavement.
“How do we reactivate the Ajaokuta Steel? We are going into
the concrete road; in this concrete road, about 16 per cent is from Steel while
30 per cent is cement. We need a lot of money to start, but we decided to face
it, and God has given us an idea.
“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 considering a commercial bank partnership, but the
Federal Executive Council has to endorse it. If this could be done, it means Mr
President is living up to his words, and this will be possible,” he said.
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