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Posted by Super B on August 22, 2024 | 5:06 pm 0
Umahi said instead of new projects, the Ministry would focus on completing several ongoing and abandoned projects.
He added that the only that can make the Ministry recommend any new project is if it comes from President Bola Tinubu.
Naija News reports Umahi made the declaration on Thursday in Abuja during a press briefing to mark his first year in office.
The minister said, “We will not propose new projects for the 2025 fiscal year unless otherwise dictated by Mr President.
“I’m going to tell the Ministry of Finance to provide funds for us to complete ongoing projects.
“Right now, we have over 4,000 ongoing projects and a funding gap of N16tn, most of them were inherited by this administration.
“Some of these projects were awarded when the naira was exchanged for N150 to $1USD.”
The minister further explained that inflation has contributed significantly to the rising cost of most of these projects, and it would be in the nation’s best interest for them to be completed.
Details later…
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