Works Minister, Umahi, Cancels New Projects For 2025
Nigeria’s Minister of Works, David Umahi, has declared that the Ministry will not pursue any new projects for the 2025 fiscal year.
Umahi made this known in a statement during a media briefing in Abuja on Thursday, to mark one year in office.
According to the Minister, the move is to curb the likelihood of abandoned projects.
He noted that the administration of President Bola Tinubu had inherited N16tn funding gap on over 4,000 ongoing projects.
“We will not propose new projects for the 2025 fiscal year unless otherwise dictated by Mr President.
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“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 said.
Umahi blamed inflation for the surging costs of the projects, stressing that it not be wise to propose new projects.
