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Works Ministry inherited N1.5trn debt from Buhari’s govt – Umahi


Works Ministry inherited N1.5trn debt from Buhari’s govt – Umahi

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Ministry Works says a committee has been constituted to look into the N1.5tr debt the Federal Government is owing contractors.

Minister of Works, Sen. David Umahi, said in a statement on Sunday that the six committees, one for each geopolitical zone, would look into certified certificates generated before May 29th, 2023, and from May 29th 2023 to date.

The statement signed by his Chief Press Secretary, Orji Uchenna Orji, stated that the committees would also review the approved and unapproved variation of prices and all augmentations that were approved or are yet to be approved and make recommendations to the Ministry’s management.

“The Ministry has exposed these debts and all reviews in the Ministry to Mr. President’s economic team and also to the Federal Executive Committee on road sector funding. It is believed that the internal works through these constituted committees will help them to use external consultants to re-verify the works so that concrete decisions will be made to move the Ministry forward,” Umahi said.

The Minister noted the huge debts arising from unpaid certificates inherited from the past administration, which runs up to N1.5tr with expected contract reviews arising from inflation.

He urged contractors owed to approach the committees with all documents to back up their claims from Tuesday 12th 2023 to Friday, 22nd of December 2023 from 9 am to 7 pm at the Minister’s Conference Room, 1st floor, Federal Ministry of Works, Headquarters, Mabushi Abuja.”

Meanwhile, the Minister noted that the road sector needed a different kind of attention beyond the 2024 budget envelope received by the ministry.

“For a developing nation like Nigeria, road sector development is a catalyst for economic development. The road sector has the potential to improve the security sector, agricultural sector, trade and investment, health, education ,and, in fact, every aspect of the development of every nation.”

The Minister thanked President Bola Ahmed Tinubu for the attention given to the ministry and his approval of concrete pavement in most of the 2024 projects.

He stated that the ministry is committed to the development of road infrastructure in line with the Renewed Hope agenda of Mr. President.