FG Creates Long Time Funding For Infrastructural Development- As Fashola Inspects Roads And Mass Housings Projects The Honourable Minister of Power, Works and Housing, Babatunde Raji Fashola, SAN, has said that the federal government is working hard to ensure the creation of infrastructural funding to finance roads, power and mass housing projects among others across the nation. According to him, ‘’funding of critical infrastructure will prevent the inherited and reoccurrence of abandon projects due to lack of budgetary provision’’. He added that departments of government agencies are already working closely to put in place, a structure for long time funding of federal projects. The Minister on arrival in Kano paid a courtesy visit to Governor Abdulahi Ganguje and commended the state government for its critical role in economic development of the country. He stated that the construction of the 360 kilometers Abuja-Kaduna-Zaira-Kano roads has been awarded to Julius Berger, adding that while the contract is been formalized, a routine maintance is been undertaking by the Metropolitan and Mothercat construction companies. In his remarks, the Deputy Governor of Kano, Prof. Adis Abubakar, on behalf of the governor, thanked the Minister for significant federal government ongoing projects in the state and expressed the readiness of the state government to continue to partner with the ministry. Fashola also paid a courtesy visit to the Emir of Kano, His Royal Highness, Mohammad Sanusi Lamido in his palace, stating his mission is to attend a Top Management Retreat organised by the ministry in Kano and that he has deemed it necessary to pay homage to him. He stated that on his way to the palace, he stopped over to inspect the Tamburawa Bridge project which has been damaged by artisanal and illegal sand mining activities and erosion. He enjoined the emir to appeal to the illegal miners to move farther away from the construction location to enable the contractor undertaking the repair works deliver appropriately on the project.    In his response, His Royal Highness, Mohammad Sanusi Lamido applauded the efforts of President Mohammadu Buhari for paying attention to critical infrastructural development projects across the country since assumption of office. He added that electricity and power generation has significantly increased, which has translated into the creation and revival of more industries in Kano and the country at large. According to him, ‘’Kano as a city and state, is experiencing about 16 to 18 hours uninterrupted power supply in the last one year or so’’. In a similar development, the Minister also inspected the National Housing Programme undergoing construction at Rigachchukwun, Kaduna North. He said that government is running a pilot scheme of housing prototypes to test the level of acceptability and affordability of Nigerians before embarking on a large scale construction of mass housing programme. The Minister added that the gains of the present administration is getting people to work and restoring their dignity. He cited the case of one of the labourer in Kaduna site called Ado, who has earned a living and even married a wife by productively engaged in the construction of the housing project some 8 months ago. ‘’We are starting an eco system of activities such as sand; paint, gravel and roofing sheet’’. According to him, ‘’if you imagine 10 of these sites in Kaduna and 10 in each state of the federation and thousand of Ado who can go to work every day, that is a victory to me and I can say to the government’’. ...

"Funding Key To Infrastructure Development" - Engr. Mohammed Adequate funding has been identified as a key ingredient to road development and, indeed, all aspects of development. This was disclosed by the Director, Highways, North East, Engr.  Rufa'i Mohammed, while on an inspection of on going construction works on Federal roads in the Zone. 2. While briefing Mediamen, at the end of the Tour of Duty, the Director opined that past Administrations paid lip service to road development financing, stressing that "the entire 2015 Capital Allocation to the Works Sector was a mergre N18 billion compared to over N200 billion in 2016 and N... for 2017., hence the accelerated development of road infrastructure being witnessed, nationwide." 3. Engr. Rufa'i observered that though the personnel responsible for planning, supervision, monitoring and development of road infrastructure in the country, in the Ministry and the construction industry remain, largely, unchanged, the financing has significantly changed. 4. The Director, Highways, North East Zone further disclosed that, apart from increased budgetary allocations, the present Administration of President Muhammadu Buhari has, recently, released additional funds to select 25 - road and brigde projects, under the Sukuk (bonds), a novel financing window hitherto unexplored in the provision of critical road infrastructure, in Nigeria. 5. Recurring decimals from all the Federal road projects visited in the Zone were increased tempo of work occassioned by adequate funding, out pouring of ecomious on the Federal Government from the contractors, motorists, benefiting communities, construction workers and service providers and, most importantly, reduction in travel time and the cost of vehicle maintenance. None of the Federal Controllers of Works in the States visited nor the Contractors complained about lack of paymen for certified jobs executed. 6. Some of the projects visited are, but not limited to ; Dualisation of Kano - Maiduguri Road, Sections II ( Shuwarin - Azare in Jigawa and Bauchi States ), III ( Azare-Potiskum in Bauchi and Yobe States ), IV  ( Potiskum - Damaturu ) and V ( Damaturu - Maiduguri in Yobe and Borno States ) and the Rehabilitation of Gombe - Numan - Yola Road, Phase II ( Gombe - Kaltungo in Gombe State) and the Emergency Reinstatement of Failed Sections of Gombe - Bauchi Road in Gombe State. Others include the Rehabilitation of Damaturu - Biu Road in Yobe and Borno States, Rehabilitation of Nguru - Gashua - Bayamari Road, Section I, Phase I ( Nguru - Gashua in Yobe State ), Rehabilitation of Nguru -Gashua - Bayamari Road, Section II, Phase I ( Gashua - Bayamari in Yobe State ), Construction of Ningi - Yadagungume - Fuskar Mata Road, Phase III in Bauchi and Plateau States, Construction of Burga - Dull - Mbatt ll - Tandum - Gobbiya - Badagari - Gwarangar - Sum Road in Bauchi State and the Construction of Yalo - Bashar - Dengi Road in Bauchi and Plateau States ...

FG To Utilize Infrastructure Bond Instrument To Finance Critical Road/ Bridge Projects-Fashola In its bid to fast track road/bridge projects development nationwide, the Federal Government is to utilize Infrastructure Bond Investment from finance institutions and investors. This was disclosed by the Minister of Power, Works and Housing, Babatunde Fashola while receiving Institutional Investors, inclusive of HSBC, China group 3 and 4 led by the Managing Director of Stanbic IBTC, Dr. Damola Sogunle, in his office on Tuesday, February 27, 2018. Fashola explained that to finance road/bridge projects through Tax Relief and Islamic banking “Sukuk” cannot be enough to provide infrastructure development in Nigeria, adding that Infrastructure Bond Instrument will complement government efforts at providing the needed critical infrastructure to end users. He stated that the inability of Nigerian government to appropriately in the past informed the present administration, channeling its energy towards economic recovery through agriculture. In the same vein, the Minister expressed the need for a reset in the housing sector in the country. He emphasized that the “financial establishment must stand as the vanguard of the reset” by borrowing a leaf from countries that have successfully utilized similar investment practice, such as United Kingdom. Fashola disclosed that the Pilot Home for the National Housing Programme of the present administration has taken off in 33 States of the federation. This, he said is made up of one to three bedrooms model which are expected to be valued accordingly, considering the standard and infrastructure. The Minister, further disclosed that the Federal Government who is currently holding 40% equity in the power sector, is of the opinion that privatization is logical, arguing that it has been successful in the media, banking, aviation sectors amongst others. According to him, the Ministry will optimize on existing capacity even as government has approved distribution extension programme in power. He added that investors in the power sector should be able to bring in value by looking at areas where investment is actually required; saying that supply of meters will improve service delivery and end user confidence in the DISCOs. Earlier, the Managing Director of Stanbic IBTC, Dr. Damola Sogunle, explained that the investors were interested in financing projects that will impact positively in infrastructure. He added that the visit will enable the investor in Nigeria have information and good understanding of what is happening in the Ministry and the country at large in order to make proper investment decision. The meeting was attended by Minister of State 1, Federal Ministry of Power, Works and Housing, Hon. Mustapha Baba Shehuri, the Permanent Secretary, (Power Sector), Engr. Lious Edozien, Director of Finance, (Works and Housing Sector), Alhaji Ibrahim Tumsa and other Directors in the Ministry. ...