FULL LIST: 25 roads to be fixed with N100bn Sukuk proceeds

Posted by Factnews | 7 years ago | 2,172 times



BudgIT, Nigerian civic social enterprise, on Sunday listed the '25 key economic roads', to be rehabilitated by the Federal Government with the N100 billion  proceeds from the Sukuk subscription.

BudgIT also included the amount that will be spent on them and the expected time reconstruction will be completed.

While handing over the proceed to the minister of power, works and housing, Babatunde Fashola on Thursday 5th October 2017, for immediate disbursement to contractors, Minister of Finance, Kemi Adeosun said the proceeds “is about financial inclusion” and deepening of the country’s financial markets.

“The proceeds will be used to further support government capital spending for 2017 – the construction and rehabilitation of 25 key economic roads across the six geo-political zones of the country,” the finance minister said.

“The roads will ease commuting, spur economic activities across the country and further close our infrastructural gap. Each of the six geo-political zones is expected to receive the sum of N16.67 billion for road projects in their respective zones.

“The north central and south-south zones accounted for five each of the 25 key economic road projects, while the north-east, north-west and south-east have four road projects each. Three projects are to receive funding from the sovereign Sukuk proceeds in the south-west zone.”

 

See the full list below....

 

N100B Sukuk proceedsN100B Sukuk proceedsN100B Sukuk proceedsN100B Sukuk proceeds


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