The Minister of Works and Housing, Babatunde Raji Fashola, has disclosed that the East-West road construction will cost N200 billion, including N13 billion for the failed Eleme axis.
Goldennewsng reports that this was said by Fashola on December 14 while he was in Rivers State to see how the 38-kilometer Bodo-Bonny link road was built.
Even though the N200 billion project was entirely government-funded, Fashola explained that funding for it came from a tax credit scheme between the Federal Government and Nigerian Liquefied Natural Gas NLNG.
“We are attempting to associate two networks of Streams, Bodo on the central area and Bonny on the island. Additionally, it is instructive to point out that, according to some remarks, the Federal Government is not acting in Rivers.
Rivers includes Bodo and Bonny. This is a N200 billion investment in a single state. However, the significance of the issue over the long term is more significant. So, when you talk about poverty and read a report that says there are 133 million poor people, those are the issues, but what are the solutions? One of the solutions is this.
“The project will be completed the following year, and just to be clear, it is funded by a policy of this government—the tax credit scheme that President Buhari initiated in 2019—and will be completed. As a result, NLNG is investing in it, and the federal government is repaying them over time with tax exemptions, he stated.
