Minister of Niger Delta Affairs, Senator Godswill Akpabio, has secured the sum of N10.4 billion from the 2021 Sovereign Sukuk Issuance to complete the construction work on the East-West Road project.
The cheque was formally presented to Akpabio on Thursday by the Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, in Abuja.
Akpabio, who spoke through his Permanent Secretary, Dr Ardo Babayo, thanked his Finance counterpart for her support for the Ministry and, by extension, the Niger Delta Region.
The minister explained that the Eleme Junction to Onne section of the East-West road was abandoned due to a shortage of funds.
According to Akpabio, “Let me acknowledge the support and effort of the Hon. Minister of Finance, Budget and National Planning for the Ministry of Niger Delta Affairs and the people of the region. The Eleme Junction to Onne, a 15-kilometre section of the East-West road, was abandoned because of lack of funds, and that was why we went to Sukuk through the Ministry.
“We also recall that during the 2021 budget presentation, it was agreed that the Ministry of Niger Delta Affairs will contribute the sum of N10 billion from its meagre N19 billion for capital projects, with the understanding that the Ministry of Finance would add N35 billion and Niger Delta Development Commission, (NDDC) N35 billion, making N80 billion for the completion and commissioning of that road by President Muhammadu Buhari this year, 2022.
“Before now, the Niger Delta Ministry had mobilised the RCC for necessary repairs on the collapsed portion of the road, as a stop-gap measure, for easy vehicular and human movements. The Eleme Junction had to be redesigned to accommodate the Power Station that was not there when the road was contemplated in 2006.”
Continuing, the minister said, “We are here today to collect the N10 billion of that money from the Ministry of Finance. We are also waiting for the balance of N25 billion, while the NDDC would remit its own support when its finance improves.
“Sometime in October last year, there was a presidential directive that we transfer the road to the Ministry of Works and the Minister, Niger Delta Affairs, has commenced talks with his Works counterpart in that regard. Let me also appreciate the effort of the Debt Management Office (DMO). We hope that the outstanding sum of N65 billion will be released in due course.”
On her part, Ahmed said: “Today’s event of N250 billion disbursement is the 4th in the circles since 2017 of the special funding for reconstruction, rehabilitation of roads and other key infrastructure as directed by President Buhari. I acknowledge the support of the various chambers of the National Assembly to the success of this event of today.”
