FG Allocates N127bn for NNPCL-Funded Road Projects
The Federal Government of Nigeria has announced the release of N127 billion to sustain ongoing road projects that were previously funded by the Nigerian National Petroleum Company Limited (NNPCL). This disclosure was made by the Minister of Works, David Umahi, on the Federal Ministry of Works website.
The funding release follows NNPCL's withdrawal from the tax credit road scheme, which will take effect on August 1, 2025. The Ministry of Works will now supervise the payment responsibilities for these projects, as NNPCL will no longer directly fund contractors under previous arrangements.
Umahi emphasized that the released funds aim to prevent further delays in critical road corridors. He noted that approximately N7 trillion will be required to complete the inherited former NNPCL-funded projects nationwide.
The announcement also included the extension of the Bodo-Bonny road, which is 8.7 kilometers long and links to the East-West road. Preference will be given to contractors with strong financial and technical capacity to ensure timely completion of the projects.
Plus234Feed summary based on reporting from Nairametrics. Read the original report below.
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