Umahi- $35bn required to kick-start road construction nationwide

The government needs $35 billion to begin the construction of concrete roads across the country, says the Minister of Works, David Umahi.

He revealed this when he had a meeting with the Minister of Steel Development, Shuaib Audu, at the ministry’s headquarters in Abuja.

The minister’s Chief Press Secretary, Orji Uchenna, said in a statement on Tuesday that the meeting highlighted the importance of coordination, cooperation, and coherence in implementing the Federal Government’s action plans for national development.

He also said that the struggling Ajaokuta steel company will supply 16 percent of the steel material and 30 percent of the cement required to build Nigeria’s roads with concrete pavement.

He said, “How do we revive Ajaokuta Steel? We are embarking on the concrete road; on this concrete road, about 16 percent is steel and 30 percent is cement. We need a lot of money to start, but we decided to face it, and God has given us an idea.

He added, “We need about $35 billion to start. If we start waiting for FG, it might become difficult. We evaluated the return on investment and the profit we could have made; part of it will go to bank interest.

He continued, “We are thinking of a commercial bank partnership, but the Federal Executive Council has to approve it. If this could be done, it means Mr. President is fulfilling his promises, and this will be possible.”