SUKUK: Fashola Commends Govt-Private Sector Partnership on Infrastructure Development. Minister of Works and Housing, Babatunde Raji Fashola, SAN, has commended the partnership between the government and the private sector in the provision of SUKUK financing in roads project across the country. Fashola spoke during a presentation of N162, 557,000,000 Sovereign Sukuk Symbolic Cheque to the Federal Ministry of Works and Housing in Abuja,, Monday,  July 20,2020. According to Fashola, fourty-four (44) Federal Roads spread across the six geo-political zones are being financed under this SUKUK roads project. He listed the number of roads project being executed per geo-political zone as follows: North Central having eight, North East Eight, North West Seven, South West Six, South East Five and South South having Ten road each with the breakdown of the financial implication as follows: North Central N26.5b, North East N30.5bn, North West N26.5bn, South east N26bn, South South N26bn and South West N27.05bn. Speaking on the recent public debate on govt borrowing and the concerns being raised by Nigerians, Fashola explained that, with this Sukuk projects distribution, Nigerians will now see where and how the monies were being spent. Fashola also listed the many economic benefits of roads construction to the people, saying that a lot of jobs have been created for labourers,  artisans,  suppliers of building materials, sands suppliers, farmers and even food vendors who make their daily earnings from the construction sides. "President Muhammadu Buhari has been legitimately distributing wealth through investment in road infrastructure and the 100 million Nigerians he would take out of poverty in a decade would be achieved" he said. Earlier in her remarks, the Minister of Finance Zainab Ahmed, said one of the key pillars of the Economic Recovery and Growth Plan (ERGP), is the development of critical infrastructure projects with a view to removing the impediments to growth and development in the economy. She explained that, the President through the annual budgets had prioritized capital expenditure on the development of roads, rail, power and agriculture infrastructure projects. She stated that the amount N162, 557,000,000 now released signified the 100 per cent full deployment of the total amount raised by the Debt Management Office (DMO), dedicated to roads project The Director General Debt Management Office (DMO), Dr. Patience Monica said also that the released of this N162, 557,000,000 was the third and final release of the SUKUK secured financing for road project out of the total N462, 5577,000,000 raised by the DMO. Chairmen of relevant National Assembly Committees that attended the symbolic public presentation of the cheque include:  Committees on Works and that of Aids, local and foreign debts of both chambers (Senate and House of Representatives. In separate remarks, the Chairmen Senate Committee on Works, Senator Adamu Alieru and his counterpart in the House of Representatives, Honourable Kabiru Bichi expressed satisfaction with the zeal to work demonstrated by the Minister of Works and Housing and the quality of work done by the contractors and promised that the National Assembly would collaborate fully with the executive to ensure that Nigerians enjoy good quality roads. Responding on behalf of the Contractors, the Managing Director of Reynolds Construction Company, (RCC) Nigeria Limited, Engr. Nabeel Esawi, appreciated the effort of the government in promoting roads financing through SUKUK. He promised government that, with this positive development of funding, contractors would take full advantage of the coming dry season to achieve more and recover the time they had lost as a result of COVID 19 lock down. "SUKUK is gradually changing the face of Nigerian road to the better.  Our Bulldozers and Machineries will speak for us " he said ...

Fashola Inaugurates Presidential Committee on Zik Mausoleum, Urge Members to Protect the Facility The Honourable Minister for Works and Housing, Mr. Babatunde Raji Fashola SAN has inaugurated the Presidential Committee for the Management and Maintenance of the Zik Mausoleum and Conference Centre, Onitsha. Speaking during the occasion conducted virtually, Fashola, who noted that the National Public Buildings Maintenance Policy provides a framework and attendant guidelines for the maintenance of Federal Government owned buildings across the country, charged members to ensure proper maintenance and protection of the facility. He said, “The Committee will take responsibility for the effective maintenance and management of the facility in accordance with the National Public Maintenance Policy and ensure its protection, work at optimal capacity and attain its full life span.” Mr. Fashola said the purpose of setting up the Committee was borne out of concerns expressed at the inauguration of the building on the need to ensure the Mausoleum served the purpose for which it was built which included honoring Dr. Nnamdi Azikiwe, propagate his ideals and promote tourism. Speaking on the commitment of the administration to infrastructure development, Mr. Fashola said, “facility management and maintenance is one of the cardinal points of the Buhari led administration which aimed at prolonging the life of the infrastructure, support Small and Medium Scale Enterprises and drive employment”. Terms of reference for the committee Include: Liaise with the Federal Ministry of Works and Housing to draw up strategies and the framework that will guide the Committee in the effective maintenance of the facility, determine the composition of the professionals to be involved in the management and maintenance of the facility and make recommendations to government on ways of using the facility to project the nation’s rich cultural heritage. The acting Permanent Secretary of the Federal Ministry of Works and Housing, Engr. Yemi Oguntominiyi expressed his gratitude to the Federal Government for the inauguration of the Committee to safeguard the structure and urged members to work assiduously to achieve result. Speaking earlier, the Director Federal Public Asset Management Department (FPAN), Federal Ministry of Works and Housing, Arc. Tina Onokwai disclosed that the project was initiated to serve as a national monument and a tourist centre in memory of the late Dr. Nnamdi Azikiwe, first President of the Federal Republic of Nigeria.  She added that it consists of a mausoleum and an administrative block and conference building. The Director further said that the infrastructure which commenced in 1997 and attained completion in October 2018 was commissioned by President Muhammadu Buhari on the 24th of January, 2019. Ach. Onokwai said that the need to ensure its maintenance and optimum use informed the setting up of the Committee. Members of the Committee are: Mrs. Osuagwu Victoria, representing the National Commission for Museums and Monuments, Mr. Gabby Onyejekwe, representing the government of Anambra State, Ms Sandra Ngozi Azikiwe, representing the Azikiwe family, Mr. Nnaemeka Maduegbuna, representing the Obi of Onitsha, Arc. Tina Onokwai representing the Federal Ministry of Works and Housing and Mrs Aileru Abosede Jumoke, representing the Office of the Secretary to the Government of the Federation. Members of the committee will choose their Chairman and Secretary at their inaugural meeting. ...

FG To Replace Collapsed Wase Bridge With Concrete Bridge * Government will provide temporary relief to facilitate movement among affected communities, says Fashola * Governor Lalong commends Minister for quick response to the situation The Federal Government is to build a concrete bridge over the Wase Waterways in Wase Local Government Area of Plateau State as replacement for the recently collapsed Wase Bridge in the State, Minister of Works and Housing, Mr. Babatunde Fashola SAN, has disclosed. Fashola, who spoke in Abuja on Monday when he met with the Plateau State Governor, Mr. Simon Lalong, said the Government would meanwhile provide a short term relief to facilitate movement among the communities disconnected as a result of the collapse. The Minister, who said the temporary relief would be undertaken by the Federal Controller of Works in Plateau State in collaboration with the State Government and Chairman of Wase Local Government, added that the new concrete bridge would be a long term solution to the perennial problem which the bridge had suffered as a result of heavy rainfall. Explaining that the design of the bridge would take his Ministry’s design team about eight weeks to complete, the Minister, however, added that the final implementation of the concrete bridge plan would depend on the availability of fund. He commiserated with the Government and people of Plateau State over the collapse of the bridge, which was as a result of a heavy downpour, and commended the Governor for his quick response to the natural disaster pointing out that the Governor put a call to him as soon as the incident occurred which enabled him to schedule the meeting. “Our intention is to do a design with a new concrete bridge across the waterways and that will take us about eight weeks going by the design team of the Ministry”, he said. In his response, the Plateau State Governor, Mr. Simon Lalong, thanked the Minister for scheduling the meeting within a short notice and assembling the relevant departments with the view to finding short and long term solutions to the problem adding that he was motivated to call the attention of the Minister immediately due to the extent of damage to the Bridge. The Governor, who was full of gratitude to the Minister for the outcome of the meeting, explained, “Because of the level of damage on the bridge and the importance of the bridge to the State, I quickly put a call to the Minister to which he responded by calling for this meeting. I thank him for the time line given in addressing the issue”. ...