How FG intends to fund critical projects —Edun

Apart from the internally generated revenue, (IGR) money to fund critical projects will also come from the savings from the fuel’s subsidy removal, Minister of Finance, Mr Olawale Edun, has said.

According to him, the Federal Government has mandated NNPC Ltd and security forces to push up oil production and oil sales following the digitization, computerisation and application of technology and system to ensure that what is due to government is not going into a few politicians.

The minister disclosed this after the inspection of the Third Mainland Bridge, Carter Bridge, Iddo Bridge and Coastal Road in Lagos.

The inspection tour of the projects was led by the Minister of Work, Dave Umahi and his team of engineers in the Federal Ministry of Work.

Edun maintained that the commitment of President Bola Tinubu is to get funding within, reiterating that repairs of the bridges and protection of degraded Marina Shoreline were going to come from the targeted 77 percent increase in internally generated revenue.

“Mr president’s commitment is to get the funding going within, and one of his themes is infrastructure, mobility, transportation, logistics, etc.

And when we are talking about bridges, and highways, we are talking about basic infrastructure that we need to get the economy growing again. So we have to find the money,” Edun said.

He explained that there has been a change in the financing of Nigeria, adding that some of the things that would come out will be beneficials.

According to him, it has become important to mobilise fund for the repairs of the bridges and other critical repairs that need to be done.

Briefing on the inspection tour, Minister of Work, Dave Umahi said, “Critical elements of the Third Mainland Bridge were being restored, noting that the bridge’s deck over the years was just being decorated on top with patching, leading to undesirable portholes.

“The bridge was designed to carry  20 inches of asphalt. Now that Mr president approved the comprehensive work of the 11-kilometre bridge, we are going to change all the lightings, install CCTV, painting the kerbs. Already the contractor, CCEEC has reached 30 percent,” the minister said.

He said the repair of the bridge will be ready in April.

Umahi lamented that some of the slabs of the Third Mainland Bridge and Carter Bridge in Lagos have deflected while the piers deteriorated.

“We inspected under the bridges. Some of the slab elements have deflected, though there’s nothing to worry about. We are going to reinstate those slabs. Buildwell engineering is working on a design.

“Some of piers or columns have deteriorated. We are also working on that by Julius Berger.

“Julius Berger is expected to go under the water,  to the riverbed to see what is going on there. A lots of piles carrying the bridge have deteriorated,” the minister said.